Grove Bank & Trust Cuts Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Grove Bank & Trust lowered its position in Dominion Energy, Inc. (NYSE:D) by 66.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,210 shares of the utilities provider’s stock after selling 2,432 shares during the period. Grove Bank & Trust’s holdings in Dominion Energy were worth $70,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in D. Family Firm Inc. purchased a new position in Dominion Energy in the second quarter worth $27,000. Rise Advisors LLC bought a new stake in shares of Dominion Energy during the 1st quarter worth $30,000. LRI Investments LLC purchased a new position in shares of Dominion Energy in the 1st quarter worth about $32,000. Triad Wealth Partners LLC bought a new position in Dominion Energy during the second quarter valued at about $33,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Dominion Energy during the second quarter worth about $35,000. 73.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on D shares. BMO Capital Markets increased their target price 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. JPMorgan Chase & Co. increased their price objective on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Scotiabank boosted their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price target for the company. Finally, Barclays boosted their price objective on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.40.

Dominion Energy Price Performance

D stock opened at $57.62 on Wednesday. The firm has a 50 day moving average of $56.77 and a 200-day moving average of $53.12. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $48.26 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $58.94.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm 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 4.63%. The ex-dividend date 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.