Massachusetts Financial Services Co. MA Has $1.70 Billion Stake in Dominion Energy, Inc. (NYSE:D)

Massachusetts Financial Services Co. MA cut its stake in Dominion Energy, Inc. (NYSE:D) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 29,500,712 shares of the utilities provider’s stock after selling 134,909 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Dominion Energy were worth $1,704,846,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in D. Cypress Capital Group raised its position in Dominion Energy by 3.7% in the 3rd quarter. Cypress Capital Group now owns 13,416 shares of the utilities provider’s stock valued at $775,000 after buying an additional 478 shares during the last quarter. Altman Advisors Inc. raised its holdings in shares of Dominion Energy by 1.0% in the third quarter. Altman Advisors Inc. now owns 29,315 shares of the utilities provider’s stock valued at $1,694,000 after purchasing an additional 284 shares during the last quarter. Jennison Associates LLC increased its stake in Dominion Energy by 6.8% in the 3rd quarter. Jennison Associates LLC now owns 1,261,170 shares of the utilities provider’s stock valued at $72,883,000 after buying an additional 80,683 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in Dominion Energy during the 3rd quarter worth about $347,000. Finally, West Family Investments Inc. acquired a new position in shares of Dominion Energy during the 3rd quarter worth about $204,000. Institutional investors own 73.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Scotiabank upped their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays increased their price target on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note 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. JPMorgan Chase & Co. increased their price target 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. Finally, BMO Capital Markets upped their target price 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. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Dominion Energy has an average rating of “Hold” and an average price target of $55.91.

Dominion Energy Stock Performance

D opened at $57.80 on Thursday. The firm has a market cap of $48.55 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.59. The business’s fifty day moving average is $58.05 and its 200-day moving average is $54.73. Dominion Energy, Inc. has a 52-week low of $43.53 and a 52-week high of $61.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74.

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

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio 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.