Dominion Energy, Inc. (NYSE:D) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its position in shares of Dominion Energy, Inc. (NYSE:D) by 12.9% in the third quarter, HoldingsChannel.com reports. The firm owned 60,142 shares of the utilities provider’s stock after selling 8,934 shares during the period. Synovus Financial Corp’s holdings in Dominion Energy were worth $3,476,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its stake in Dominion Energy by 63.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after purchasing an additional 3,278,175 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Dominion Energy by 10,324.8% in the third quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock valued at $130,074,000 after buying an additional 2,229,220 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Dominion Energy by 7,438.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock valued at $85,734,000 after acquiring an additional 1,463,858 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Dominion Energy in the 2nd quarter valued at $67,854,000. Finally, State Street Corp boosted its position in shares of Dominion Energy by 3.2% in the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock valued at $2,559,972,000 after purchasing an additional 1,365,555 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on D. Scotiabank lifted their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Thursday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a report on Friday, November 8th. Jefferies Financial Group began coverage on shares of Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price target for the company. Barclays upped their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley began coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Stock Up 0.4 %

Dominion Energy stock opened at $54.04 on Friday. The company has a market capitalization of $45.39 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.44 and a beta of 0.59. Dominion Energy, Inc. has a 1-year low of $43.53 and a 1-year high of $61.97. The firm’s fifty day simple moving average is $57.77 and its 200-day simple moving average is $55.21. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. Sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.94%. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Dominion Energy 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.