The Manufacturers Life Insurance Company Trims Holdings in Dominion Energy, Inc. (NYSE:D)

The Manufacturers Life Insurance Company cut its stake in Dominion Energy, Inc. (NYSE:D) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,437,080 shares of the utilities provider’s stock after selling 27,723 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.17% of Dominion Energy worth $83,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of Montreal Can grew its position in Dominion Energy by 9.5% during the third quarter. Bank of Montreal Can now owns 907,946 shares of the utilities provider’s stock worth $51,898,000 after buying an additional 78,424 shares in the last quarter. Horizon Kinetics Asset Management LLC purchased a new position in shares of Dominion Energy in the 3rd quarter worth about $477,000. Truvestments Capital LLC purchased a new position in shares of Dominion Energy in the 3rd quarter worth about $183,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Dominion Energy by 1.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 19,139 shares of the utilities provider’s stock worth $1,106,000 after purchasing an additional 253 shares in the last quarter. Finally, Boston Family Office LLC purchased a new position in shares of Dominion Energy in the 3rd quarter worth about $222,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 1.0 %

D opened at $59.71 on Thursday. The business has a 50 day simple moving average of $58.13 and a two-hundred day simple moving average of $54.96. The firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.56 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. Dominion Energy, Inc. has a one year low of $43.53 and a one year high of $61.97.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. Dominion Energy’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. Analysts predict that Dominion Energy, Inc. will post 2.76 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s payout ratio is 93.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Scotiabank upped their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Barclays upped their price objective on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a report on Friday, November 8th. Jefferies Financial Group started coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.