Atlantic Union Bankshares Corp Lowers Position in Dominion Energy, Inc. (NYSE:D)

Atlantic Union Bankshares Corp decreased its position in Dominion Energy, Inc. (NYSE:D) by 76.6% during the 2nd quarter, Holdings Channel reports. The fund owned 28,057 shares of the utilities provider’s stock after selling 91,724 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Dominion Energy were worth $1,453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in D. Two Sigma Investments LP purchased a new stake in Dominion Energy during the fourth quarter worth about $39,943,000. AGF Management Ltd. lifted its holdings in shares of Dominion Energy by 6.7% in the first quarter. AGF Management Ltd. now owns 60,959 shares of the utilities provider’s stock valued at $3,408,000 after purchasing an additional 3,846 shares in the last quarter. Investment Management of Virginia LLC lifted its holdings in shares of Dominion Energy by 18.9% in the first quarter. Investment Management of Virginia LLC now owns 9,882 shares of the utilities provider’s stock valued at $553,000 after purchasing an additional 1,573 shares in the last quarter. Trust Co. of Toledo NA OH lifted its holdings in shares of Dominion Energy by 13.8% in the second quarter. Trust Co. of Toledo NA OH now owns 37,991 shares of the utilities provider’s stock valued at $1,968,000 after purchasing an additional 4,619 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Dominion Energy by 4.6% in the first quarter. Foundations Investment Advisors LLC now owns 16,288 shares of the utilities provider’s stock valued at $911,000 after purchasing an additional 723 shares in the last quarter. Hedge funds and other institutional investors own 70.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Dominion Energy in a report on Wednesday, June 7th. They issued a “neutral” rating on the stock. Morgan Stanley reduced their price target on shares of Dominion Energy from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 23rd. BMO Capital Markets cut their price objective on shares of Dominion Energy from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, September 6th. StockNews.com initiated coverage on shares of Dominion Energy in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company cut their price objective on shares of Dominion Energy from $61.00 to $55.00 in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.15.

Dominion Energy Price Performance

Dominion Energy stock opened at $48.65 on Tuesday. Dominion Energy, Inc. has a 52-week low of $45.76 and a 52-week high of $81.31. The firm has a fifty day moving average of $49.95 and a 200-day moving average of $52.80. The firm has a market capitalization of $40.70 billion, a P/E ratio of 18.02, a PEG ratio of 3.71 and a beta of 0.46. The company has a quick ratio of 0.44, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.05. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Dominion Energy had a net margin of 12.71% and a return on equity of 11.94%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, analysts predict that Dominion Energy, Inc. will post 3.26 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.67 annualized dividend and a dividend yield of 5.49%. Dominion Energy’s dividend payout ratio (DPR) is presently 98.89%.

Dominion Energy Profile

Dominion Energy, Inc produces and distributes energy in the United States. It operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.