Dominion Energy, Inc. (NYSE:D) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors lowered its holdings in Dominion Energy, Inc. (NYSE:D) by 24.4% in the third quarter, HoldingsChannel reports. The firm owned 4,512 shares of the utilities provider’s stock after selling 1,456 shares during the quarter. Tower Bridge Advisors’ holdings in Dominion Energy were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Family Firm Inc. acquired a new position in shares of Dominion Energy in the 2nd quarter valued at $27,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Dominion Energy during the 3rd quarter worth $28,000. LRI Investments LLC acquired a new position in shares of Dominion Energy during the 1st quarter worth $30,000. Frazier Financial Advisors LLC acquired a new stake in Dominion Energy in the 3rd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in Dominion Energy in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Trading Up 2.6 %

Shares of D opened at $57.63 on Monday. 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, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97. The firm has a market capitalization of $48.41 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.53 and a beta of 0.59. The stock’s fifty day simple moving average is $58.03 and its 200-day simple moving average is $54.62.

Dominion Energy (NYSE:D) last released 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 return on equity of 8.35% and a net margin of 16.95%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts predict that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s dividend payout ratio is currently 93.68%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on D shares. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Scotiabank lifted their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Barclays raised their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective 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, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.91.

Dominion Energy 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.