Citigroup Inc. Trims Stake in Dominion Energy, Inc. (NYSE:D)

Citigroup Inc. cut its position in shares of Dominion Energy, Inc. (NYSE:D) by 18.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,313,702 shares of the utilities provider’s stock after selling 301,866 shares during the period. Citigroup Inc.’s holdings in Dominion Energy were worth $75,919,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. BLB&B Advisors LLC lifted its position in shares of Dominion Energy by 2.5% during 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 increased its stake in Dominion Energy by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock worth $535,000 after buying an additional 195 shares during the period. Valley National Advisers Inc. lifted its holdings in Dominion Energy by 8.6% during the 2nd quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock valued at $122,000 after buying an additional 198 shares in the last quarter. Altman Advisors Inc. boosted its position in Dominion Energy by 0.7% in the 2nd quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock valued at $1,423,000 after buying an additional 198 shares during the period. Finally, Centennial Wealth Advisory LLC grew its stake in Dominion Energy by 2.8% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock worth $362,000 after acquiring an additional 199 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Price Performance

NYSE D opened at $58.14 on Friday. The firm’s fifty day simple moving average is $58.07 and its two-hundred day simple moving average is $54.82. The firm has a market capitalization of $48.84 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.55 and a beta of 0.59. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97.

Dominion Energy (NYSE:D) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, November 29th. Dominion Energy’s payout ratio is 93.68%.

Analyst Ratings Changes

D has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price target for the company. Scotiabank upped their target price on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research note on Friday, November 8th. Finally, Barclays raised their target price 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. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.91.

Dominion Energy 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.