Commerce Bank Sells 5,825 Shares of Dominion Energy, Inc. (NYSE:D)

Commerce Bank trimmed its stake in shares of Dominion Energy, Inc. (NYSE:D) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 131,365 shares of the utilities provider’s stock after selling 5,825 shares during the period. Commerce Bank’s holdings in Dominion Energy were worth $7,592,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of Dominion Energy during the 2nd quarter worth about $27,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Dominion Energy during the third quarter valued at approximately $28,000. LRI Investments LLC bought a new position in shares of Dominion Energy during the first quarter valued at approximately $30,000. Frazier Financial Advisors LLC purchased a new stake in shares of Dominion Energy in the third quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Dominion Energy during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on D shares. BMO Capital Markets upped their price objective on 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. lifted their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a report on Friday, November 8th. Finally, Barclays raised 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. 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.com, the company has a consensus rating of “Hold” and an average target price of $55.91.

Dominion Energy Price Performance

D opened at $58.36 on Friday. The firm has a market capitalization of $49.03 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.53 and a beta of 0.59. The business’s 50-day moving average is $58.07 and its two-hundred day moving average is $54.76. Dominion Energy, Inc. has a 1 year low of $43.53 and a 1 year high of $61.97. 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 (NYSE:D) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the firm earned $0.77 earnings per share. Dominion Energy’s revenue was up 3.4% compared to the same quarter last year. Research analysts anticipate that Dominion Energy, Inc. will post 2.76 earnings per share for the current fiscal 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 paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

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.