Dominion Energy, Inc. (NYSE:D) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in Dominion Energy, Inc. (NYSE:D) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,899 shares of the utilities provider’s stock after selling 18,614 shares during the period. CIBC Asset Management Inc’s holdings in Dominion Energy were worth $8,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in Dominion Energy in the second quarter valued at $27,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Dominion Energy in the third quarter valued at about $28,000. LRI Investments LLC purchased a new stake in shares of Dominion Energy in the first quarter valued at about $30,000. Triad Wealth Partners LLC purchased a new stake in shares of Dominion Energy in the second quarter valued at about $33,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Dominion Energy in the second quarter valued at about $35,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Performance

NYSE:D opened at $57.63 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The company has a market cap of $48.41 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.53 and a beta of 0.59. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The firm’s 50 day moving average is $58.03 and its two-hundred day moving average is $54.60.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the firm posted $0.77 earnings per share. Dominion Energy’s revenue was up 3.4% on a year-over-year basis. Analysts expect that Dominion Energy, Inc. will post 2.76 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s dividend payout ratio is presently 93.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on D. Jefferies Financial Group began coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. Barclays upped their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Scotiabank increased their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.91.

Dominion Energy Company Profile

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.