Verdence Capital Advisors LLC Trims Position in Dominion Energy, Inc. (NYSE:D)

Verdence Capital Advisors LLC reduced its position in shares of Dominion Energy, Inc. (NYSE:D) by 44.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,950 shares of the utilities provider’s stock after selling 10,427 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Dominion Energy were worth $748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in D. Carson Advisory Inc. grew its position in shares of Dominion Energy by 1.3% during the 3rd quarter. Carson Advisory Inc. now owns 68,737 shares of the utilities provider’s stock valued at $3,972,000 after acquiring an additional 898 shares during the period. CWA Asset Management Group LLC bought a new stake in Dominion Energy during the third quarter valued at about $545,000. Equitable Trust Co. purchased a new stake in Dominion Energy in the third quarter worth about $216,000. Leavell Investment Management Inc. raised its stake in shares of Dominion Energy by 22.3% in the third quarter. Leavell Investment Management Inc. now owns 10,302 shares of the utilities provider’s stock worth $595,000 after buying an additional 1,879 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Dominion Energy during the 3rd quarter valued at about $88,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Up 2.0 %

Shares of Dominion Energy stock opened at $57.79 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The firm has a market cap of $48.54 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.54 and a beta of 0.59. Dominion Energy, Inc. has a twelve month low of $43.53 and a twelve month high of $61.97. The business has a 50-day moving average price of $58.01 and a 200-day moving average price of $54.38.

Dominion Energy (NYSE:D) last released its quarterly earnings data 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. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Equities research analysts anticipate that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on D shares. 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. Barclays raised their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price 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. The Goldman Sachs Group reissued a “neutral” rating and set a $61.00 price target on shares of Dominion Energy in a report on Friday. Finally, BMO Capital Markets upped their price objective on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Ten 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, the company has an average rating of “Hold” and an average price target of $55.91.

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.