Dominion Energy, Inc. (NYSE:D) Position Trimmed by Summit Asset Management LLC

Summit Asset Management LLC lessened its position in Dominion Energy, Inc. (NYSE:D) by 7.1% in the 4th quarter, Holdings Channel reports. The fund owned 5,044 shares of the utilities provider’s stock after selling 386 shares during the period. Summit Asset Management LLC’s holdings in Dominion Energy were worth $272,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sanctuary Wealth Management L.L.C. bought a new position in shares of Dominion Energy during the 3rd quarter valued at $28,000. Roble Belko & Company Inc acquired a new stake in Dominion Energy in the 4th quarter worth $27,000. Frazier Financial Advisors LLC acquired a new stake in Dominion Energy in the 3rd quarter worth $32,000. Dunhill Financial LLC grew its position in Dominion Energy by 601.2% in the 3rd quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 487 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Dominion Energy by 282.4% during the 3rd quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 449 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Up 1.9 %

Dominion Energy stock opened at $57.38 on Friday. The stock has a market capitalization of $48.20 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61. Dominion Energy, Inc. has a twelve month low of $44.17 and a twelve month high of $61.97. 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 50 day moving average of $54.58 and a 200-day moving average of $56.36.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. On average, equities research analysts anticipate that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Friday, February 28th. Dominion Energy’s dividend payout ratio (DPR) is presently 98.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on D shares. Morgan Stanley started coverage on shares of Dominion Energy in a report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target for the company. Scotiabank boosted their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and two have issued 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 $56.58.

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.