Cedrus LLC Sells 1,804 Shares of Dominion Energy, Inc. (NYSE:D)

Cedrus LLC reduced its position in shares of Dominion Energy, Inc. (NYSE:D) by 31.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,952 shares of the utilities provider’s stock after selling 1,804 shares during the period. Cedrus LLC’s holdings in Dominion Energy were worth $228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caprock Group LLC boosted its holdings in Dominion Energy by 133.0% during the second quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider’s stock valued at $474,000 after acquiring an additional 5,525 shares during the period. SG Americas Securities LLC grew its holdings in Dominion Energy by 105.0% in the 1st quarter. SG Americas Securities LLC now owns 97,105 shares of the utilities provider’s stock valued at $4,777,000 after buying an additional 49,740 shares during the last quarter. Wedmont Private Capital increased its position in Dominion Energy by 14.1% in the 1st quarter. Wedmont Private Capital now owns 4,822 shares of the utilities provider’s stock worth $239,000 after buying an additional 596 shares during the period. Intech Investment Management LLC acquired a new position in shares of Dominion Energy during the first quarter worth approximately $708,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Dominion Energy in the first quarter valued at approximately $272,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

D has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. BMO Capital Markets upped their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Barclays lifted their target price on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Scotiabank upped their price target on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.40.

Dominion Energy Price Performance

Shares of D stock opened at $59.92 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The stock’s fifty day simple moving average is $57.10 and its 200 day simple moving average is $53.36. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $60.73. The firm has a market cap of $50.19 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 1.60 and a beta of 0.60.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. On average, analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Friday, August 30th. Dominion Energy’s payout ratio is 137.63%.

About Dominion Energy

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.