Chemung Canal Trust Co. Cuts Position in Dominion Energy, Inc. (NYSE:D)

Chemung Canal Trust Co. cut its stake in Dominion Energy, Inc. (NYSE:D) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,511 shares of the utilities provider’s stock after selling 892 shares during the quarter. Chemung Canal Trust Co.’s holdings in Dominion Energy were worth $468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in Dominion Energy by 103.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 52,717 shares of the utilities provider’s stock worth $2,355,000 after buying an additional 26,757 shares during the last quarter. Bank of Nova Scotia lifted its position in Dominion Energy by 14.8% during the 3rd quarter. Bank of Nova Scotia now owns 86,661 shares of the utilities provider’s stock worth $3,871,000 after acquiring an additional 11,194 shares during the period. Cape Cod Five Cents Savings Bank acquired a new stake in Dominion Energy during the 3rd quarter worth about $212,000. Kinloch Capital LLC lifted its position in Dominion Energy by 12.2% during the 3rd quarter. Kinloch Capital LLC now owns 5,252 shares of the utilities provider’s stock worth $235,000 after acquiring an additional 571 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Dominion Energy during the 3rd quarter worth about $2,554,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

NYSE:D opened at $49.00 on Friday. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $54.74. The stock has a 50 day moving average of $51.64 and a two-hundred day moving average of $48.74. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 1.37. The firm has a market cap of $41.04 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the business earned $0.99 EPS. Dominion Energy’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were given a $0.6675 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.45%. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

Wall Street Analysts Forecast Growth

D has been the subject of a number of research reports. Barclays lowered their price target on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Evercore ISI boosted their price objective on Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Guggenheim decreased their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. Mizuho boosted their price objective on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $43.00 to $54.00 in a report on Friday, May 10th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Dominion Energy has an average rating of “Hold” and a consensus price target of $51.73.

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.