MAI Capital Management Trims Stake in Dominion Energy, Inc. (NYSE:D)

MAI Capital Management cut its stake in Dominion Energy, Inc. (NYSE:D) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,352 shares of the utilities provider’s stock after selling 435 shares during the period. MAI Capital Management’s holdings in Dominion Energy were worth $1,234,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BLB&B Advisors LLC grew its holdings in shares of Dominion Energy by 2.5% in the third quarter. BLB&B Advisors LLC now owns 7,223 shares of the utilities provider’s stock worth $417,000 after purchasing an additional 173 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Dominion Energy by 1.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock worth $535,000 after purchasing an additional 195 shares during the last quarter. Valley National Advisers Inc. grew its holdings in shares of Dominion Energy by 8.6% in the second quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 198 shares during the last quarter. Altman Advisors Inc. grew its holdings in shares of Dominion Energy by 0.7% in the second quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock worth $1,423,000 after purchasing an additional 198 shares during the last quarter. Finally, Centennial Wealth Advisory LLC grew its holdings in shares of Dominion Energy by 2.8% in the second quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock worth $362,000 after purchasing an additional 199 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on D. Barclays increased their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets increased their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Scotiabank increased their target price 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. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price target on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a report on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.91.

Dominion Energy Stock Performance

D opened at $57.80 on Thursday. Dominion Energy, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $48.55 billion, a PE ratio of 20.28, a P/E/G ratio of 1.53 and a beta of 0.59. The firm has a 50 day moving average of $58.05 and a two-hundred day moving average of $54.73.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the firm posted $0.77 EPS. Dominion Energy’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Dominion Energy, Inc. will post 2.76 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.62%. Dominion Energy’s payout ratio is 93.68%.

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.