Dominion Energy Inc. $D Stock: Pictet Asset Management Holding SA Lowers Stake

Pictet Asset Management Holding SA reduced its position in shares of Dominion Energy Inc. (NYSE:D) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,207,064 shares of the utilities provider’s stock after selling 41,380 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Dominion Energy were worth $73,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new stake in Dominion Energy during the second quarter valued at $31,000. Signature Equity Partners LLC boosted its holdings in shares of Dominion Energy by 83.9% in the 3rd quarter. Signature Equity Partners LLC now owns 526 shares of the utilities provider’s stock valued at $32,000 after buying an additional 240 shares during the period. Beacon Financial Strategies CORP grew its position in shares of Dominion Energy by 269.2% during the 2nd quarter. Beacon Financial Strategies CORP now owns 480 shares of the utilities provider’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Arlington Trust Co LLC grew its position in shares of Dominion Energy by 47.1% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the utilities provider’s stock valued at $34,000 after buying an additional 160 shares during the last quarter. Finally, Burnham & Co LLC acquired a new stake in Dominion Energy during the second quarter worth about $34,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analysts Set New Price Targets

D has been the topic of several research reports. Mizuho set a $68.00 price objective on shares of Dominion Energy in a research note on Monday, November 2nd. TD Cowen upgraded Dominion Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $69.00 to $80.00 in a research note on Wednesday, August 19th. Morgan Stanley lowered their target price on Dominion Energy from $68.00 to $66.00 and set an “equal weight” rating for the company in a report on Friday, September 18th. Truist Financial dropped their price target on Dominion Energy from $66.00 to $62.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Finally, BMO Capital Markets raised their price target on Dominion Energy from $64.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and a consensus target price of $69.33.

Dominion Energy Stock Performance

Shares of D opened at $68.24 on Tuesday. Dominion Energy Inc. has a 1 year low of $55.85 and a 1 year high of $72.99. The company has a market cap of $60.02 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 3.24 and a beta of 0.62. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.64 and a current ratio of 0.88. The firm has a fifty day moving average of $64.01 and a 200-day moving average of $65.02.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, October 30th. The utilities provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The business had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Dominion Energy had a net margin of 13.99% and a return on equity of 10.09%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. As a group, equities analysts anticipate that Dominion Energy Inc. will post 3.59 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 20th. Shareholders of record on Friday, December 4th will be given a $0.6675 dividend. The ex-dividend date is Friday, December 4th. This represents a $2.67 annualized dividend and a yield of 3.9%. Dominion Energy’s dividend payout ratio is 88.70%.

Dominion Energy Profile

Dominion Energy, Inc (NYSE: D) is an energy company focused primarily on regulated electric and natural gas utility services. Its businesses generate, transmit and distribute electricity and deliver natural gas to residential, commercial and industrial customers.

The company’s electric utility operations serve customers in Virginia and northeastern North Carolina, as well as parts of South Carolina through Dominion Energy South Carolina. Its power portfolio includes nuclear, natural gas, solar and other energy sources.

Dominion traces its roots to 1909 and adopted the Dominion Energy name in 2017.