CNB Bank Has $248,000 Stock Holdings in Dominion Energy, Inc. (NYSE:D)

CNB Bank lowered its stake in Dominion Energy, Inc. (NYSE:D) by 20.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,609 shares of the utilities provider’s stock after selling 1,191 shares during the period. CNB Bank’s holdings in Dominion Energy were worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Dominion Energy by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,127,357 shares of the utilities provider’s stock valued at $104,253,000 after purchasing an additional 89,379 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of Dominion Energy by 28.5% in the second quarter. Citizens Financial Group Inc. RI now owns 5,684 shares of the utilities provider’s stock worth $279,000 after acquiring an additional 1,259 shares during the period. Edgestream Partners L.P. bought a new stake in Dominion Energy in the second quarter valued at approximately $214,000. Mercer Global Advisors Inc. ADV increased its position in Dominion Energy by 0.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 59,153 shares of the utilities provider’s stock valued at $2,898,000 after purchasing an additional 500 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Dominion Energy by 16.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 92,473 shares of the utilities provider’s stock worth $4,531,000 after purchasing an additional 13,357 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays increased their price target on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group restated a “neutral” rating and set a $61.00 price objective on shares of Dominion Energy in a report on Friday, November 8th. Scotiabank increased their target price on Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. Finally, Morgan Stanley assumed coverage on Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.58.

Dominion Energy Stock Performance

Shares of D opened at $55.32 on Friday. The stock has a 50 day moving average of $55.57 and a 200 day moving average of $55.67. 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. The company has a market capitalization of $46.47 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.16 and a beta of 0.60.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 earnings per share 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 for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Dominion Energy’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend was Friday, November 29th. Dominion Energy’s payout ratio is currently 93.68%.

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.