Citigroup Inc. Reduces Position in Dominion Energy, Inc. (NYSE:D)

Citigroup Inc. decreased its holdings in Dominion Energy, Inc. (NYSE:D) by 18.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,313,702 shares of the utilities provider’s stock after selling 301,866 shares during the quarter. Citigroup Inc. owned 0.16% of Dominion Energy worth $75,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in D. Oppenheimer & Co. Inc. grew its position in Dominion Energy by 22.8% during the third quarter. Oppenheimer & Co. Inc. now owns 69,343 shares of the utilities provider’s stock valued at $4,007,000 after buying an additional 12,890 shares during the period. Caprock Group LLC grew its position in shares of Dominion Energy by 133.0% during the 2nd quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider’s stock valued at $474,000 after acquiring an additional 5,525 shares during the period. Ascent Wealth Partners LLC purchased a new stake in shares of Dominion Energy in the 3rd quarter worth $1,223,000. Pathway Financial Advisers LLC raised its holdings in Dominion Energy by 351.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 48,176 shares of the utilities provider’s stock worth $2,784,000 after purchasing an additional 37,514 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Dominion Energy by 3.8% during the third quarter. Asset Management One Co. Ltd. now owns 315,645 shares of the utilities provider’s stock valued at $18,241,000 after purchasing an additional 11,517 shares during the period. Institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

D has been the subject of a number of recent research reports. Barclays boosted their price objective on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Scotiabank raised 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 report on Tuesday, August 20th. BMO Capital Markets upped their target price 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, Jefferies Financial Group started coverage on Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.91.

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $58.14 on Friday. The firm has a market cap of $48.84 billion, a PE ratio of 20.40, a PEG ratio of 1.55 and a beta of 0.59. The stock has a 50 day moving average of $58.07 and a 200 day moving average of $54.82. The company has a current ratio of 0.74, a quick ratio of 0.58 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.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the prior year, the company earned $0.77 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts expect that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm 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 dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio is 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.