Colonial River Investments LLC Has $2.41 Million Position in Dominion Energy, Inc. (NYSE:D)

Colonial River Investments LLC cut its stake in shares of Dominion Energy, Inc. (NYSE:D - Free Report) by 23.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,774 shares of the utilities provider's stock after selling 13,031 shares during the quarter. Dominion Energy makes up 1.2% of Colonial River Investments LLC's portfolio, making the stock its 17th largest holding. Colonial River Investments LLC's holdings in Dominion Energy were worth $2,414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in D. Vanguard Group Inc. raised its holdings in shares of Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider's stock valued at $4,346,193,000 after buying an additional 12,178,713 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Dominion Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider's stock valued at $1,452,145,000 after buying an additional 477,181 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Dominion Energy by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider's stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares during the period. Capital Research Global Investors raised its holdings in Dominion Energy by 20.1% during the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider's stock worth $1,061,740,000 after purchasing an additional 3,613,614 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Dominion Energy by 6.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider's stock valued at $734,007,000 after purchasing an additional 940,402 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

Dominion Energy Stock Performance

D stock traded up $1.16 during midday trading on Friday, reaching $57.79. 5,554,525 shares of the company were exchanged, compared to its average volume of 4,598,439. The business has a 50-day moving average price of $58.01 and a two-hundred day moving average price of $54.38. The firm has a market capitalization of $48.54 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.54 and a beta of 0.59. Dominion Energy, Inc. has a one year low of $43.53 and a one year high of $61.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.78.

Dominion Energy (NYSE:D - Get Free Report) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Dominion Energy's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. Equities research analysts forecast that Dominion Energy, Inc. will post 2.76 EPS for the current year.

Dominion Energy Announces Dividend

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 paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy's payout ratio is 93.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on D. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a research note on Friday, September 20th. They set a "hold" rating and a $58.00 price objective on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $61.00 price objective on shares of Dominion Energy in a research note on Friday. Scotiabank lifted their price objective 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. Finally, Barclays lifted their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy currently has an average rating of "Hold" and an average price target of $55.91.

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.