Cadence Bank Has $542,000 Stake in Dominion Energy, Inc. (NYSE:D)

Cadence Bank trimmed its stake in shares of Dominion Energy, Inc. (NYSE:D) by 86.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,372 shares of the utilities provider’s stock after selling 61,698 shares during the period. Cadence Bank’s holdings in Dominion Energy were worth $542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. raised its holdings in shares of Dominion Energy by 22.8% during the third quarter. Oppenheimer & Co. Inc. now owns 69,343 shares of the utilities provider’s stock worth $4,007,000 after acquiring an additional 12,890 shares during the period. Caprock Group LLC raised its holdings in shares of Dominion Energy by 133.0% during the second quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider’s stock worth $474,000 after acquiring an additional 5,525 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Dominion Energy by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,164,929 shares of the utilities provider’s stock worth $298,481,000 after acquiring an additional 43,055 shares during the period. Ascent Wealth Partners LLC acquired a new stake in shares of Dominion Energy during the third quarter worth $1,223,000. Finally, Pathway Financial Advisers LLC grew its position in Dominion Energy by 351.8% in the third quarter. Pathway Financial Advisers LLC now owns 48,176 shares of the utilities provider’s stock valued at $2,784,000 after purchasing an additional 37,514 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

Shares of D opened at $59.71 on Thursday. The firm has a 50-day moving average of $58.13 and a 200-day moving average of $54.96. Dominion Energy, Inc. has a one year low of $43.53 and a one year high of $61.97. The company has a market cap of $50.16 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.56 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58.

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

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio is presently 93.68%.

Wall Street Analyst Weigh In

D has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. Barclays raised their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets raised their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Scotiabank raised their target price 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy has an average rating of “Hold” and a consensus target price of $55.91.

Dominion Energy Company 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.