M&T Bank Corp Raises Position in Dominion Energy, Inc. (NYSE:D)

M&T Bank Corp raised its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 152,056 shares of the utilities provider’s stock after acquiring an additional 2,268 shares during the period. M&T Bank Corp’s holdings in Dominion Energy were worth $8,787,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. purchased a new stake in Dominion Energy in the third quarter valued at approximately $28,000. Family Firm Inc. bought a new position in shares of Dominion Energy in the 2nd quarter worth $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Dominion Energy during the 3rd quarter valued at $32,000. Dunhill Financial LLC lifted its holdings in shares of Dominion Energy by 601.2% during the 3rd quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 487 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Dominion Energy by 282.4% in the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 449 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on D. Barclays lifted their price target on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Scotiabank lifted 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 note on Tuesday, August 20th. Morgan Stanley started coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price on the stock. Eleven equities research 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, the company presently has a consensus rating of “Hold” and a consensus price target of $56.33.

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $54.29 on Thursday. The company has a market cap of $45.60 billion, a PE ratio of 19.05, a P/E/G ratio of 1.49 and a beta of 0.59. The business has a 50 day moving average of $58.02 and a 200 day moving average of $55.20. Dominion Energy, Inc. has a 52 week low of $43.53 and a 52 week high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping 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 firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the company posted $0.77 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 4.92%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio is currently 93.68%.

Dominion Energy Company 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.