Carret Asset Management LLC Sells 2,270 Shares of Dominion Energy, Inc. (NYSE:D)

Carret Asset Management LLC lowered its holdings in Dominion Energy, Inc. (NYSE:D) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,301 shares of the utilities provider’s stock after selling 2,270 shares during the quarter. Carret Asset Management LLC’s holdings in Dominion Energy were worth $2,502,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of D. Wealth Enhancement Advisory Services LLC boosted its position in Dominion Energy by 7.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 109,649 shares of the utilities provider’s stock valued at $5,394,000 after purchasing an additional 7,670 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Dominion Energy by 35.2% in the 1st quarter. Independence Bank of Kentucky now owns 3,940 shares of the utilities provider’s stock valued at $194,000 after buying an additional 1,025 shares in the last quarter. Cornerstone Wealth Group LLC grew its position in shares of Dominion Energy by 21.4% in the 1st quarter. Cornerstone Wealth Group LLC now owns 16,439 shares of the utilities provider’s stock worth $809,000 after buying an additional 2,902 shares during the last quarter. SteelPeak Wealth LLC bought a new position in shares of Dominion Energy during the 1st quarter worth approximately $799,000. Finally, Chapin Davis Inc. purchased a new stake in Dominion Energy during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on D. JPMorgan Chase & Co. upped their price target on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Scotiabank upped their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets raised their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Jefferies Financial Group assumed coverage on Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Finally, Barclays increased 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. Nine 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 stock currently has an average rating of “Hold” and a consensus target price of $55.40.

Dominion Energy Stock Performance

NYSE D opened at $59.58 on Friday. The firm has a market capitalization of $49.90 billion, a P/E ratio of 30.71, a PEG ratio of 1.60 and a beta of 0.60. The stock has a 50-day simple moving average of $57.60 and a two-hundred day simple moving average of $53.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. Dominion Energy, Inc. has a fifty-two week low of $39.44 and a fifty-two week high of $61.26.

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

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.6675 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.48%. Dominion Energy’s dividend payout ratio (DPR) is currently 137.63%.

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.