Greystone Financial Group LLC Takes Position in Dominion Energy, Inc. (NYSE:D)

Greystone Financial Group LLC bought a new stake in Dominion Energy, Inc. (NYSE:D) during the third quarter, Holdings Channel.com reports. The fund bought 109,013 shares of the utilities provider’s stock, valued at approximately $6,300,000.

Other hedge funds also recently made changes to their positions in the company. Romano Brothers AND Company bought a new stake in shares of Dominion Energy in the 3rd quarter worth approximately $401,000. International Assets Investment Management LLC lifted its position in shares of Dominion Energy by 7,438.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock worth $85,734,000 after purchasing an additional 1,463,858 shares during the period. Courier Capital LLC boosted its position in shares of Dominion Energy by 18.0% during the third quarter. Courier Capital LLC now owns 31,346 shares of the utilities provider’s stock valued at $1,811,000 after purchasing an additional 4,783 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Dominion Energy by 17.2% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 9,178 shares of the utilities provider’s stock worth $531,000 after acquiring an additional 1,344 shares in the last quarter. Finally, Plan Group Financial LLC boosted its position in shares of Dominion Energy by 12.8% in the 3rd quarter. Plan Group Financial LLC now owns 14,800 shares of the utilities provider’s stock worth $855,000 after purchasing an additional 1,683 shares in the last quarter. 73.04% of the stock is owned by institutional investors.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $60.93 on Thursday. Dominion Energy, Inc. has a 52 week low of $39.44 and a 52 week high of $60.93. The company has a 50 day moving average price of $57.41 and a 200 day moving average price of $53.57. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $51.12 billion, a P/E ratio of 32.07, a PEG ratio of 1.60 and a beta of 0.60.

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

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.38%. The ex-dividend date was Friday, August 30th. Dominion Energy’s payout ratio is 140.53%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. lifted 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. BMO Capital Markets raised their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Finally, Barclays upped their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Dominion Energy presently has a consensus rating of “Hold” and a consensus price target of $55.40.

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.