SouthState Corp Reduces Holdings in Dominion Energy, Inc. (NYSE:D)

SouthState Corp cut its stake in shares of Dominion Energy, Inc. (NYSE:D) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,128 shares of the utilities provider’s stock after selling 2,965 shares during the period. SouthState Corp’s holdings in Dominion Energy were worth $816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Dominion Energy in the third quarter valued at $28,000. Family Firm Inc. acquired a new stake in Dominion Energy during the second quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new position in Dominion Energy in the third quarter valued at approximately $32,000. LRI Investments LLC purchased a new position in shares of Dominion Energy in the 1st quarter valued at $32,000. Finally, Reston Wealth Management LLC purchased a new position in Dominion Energy in the third quarter valued at about $36,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Trading Down 0.2 %

Shares of NYSE:D opened at $57.58 on Wednesday. The firm has a market capitalization of $48.36 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.53 and a beta of 0.59. Dominion Energy, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average of $58.04 and a two-hundred day moving average of $54.71.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.64%. Dominion Energy’s payout ratio is presently 93.68%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on D. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Scotiabank increased their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price target on the stock. Barclays raised their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research note on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and an average target price 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.