Essex Financial Services Inc. Reduces Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Essex Financial Services Inc. lessened its stake in Dominion Energy, Inc. (NYSE:D) by 8.2% in the fourth quarter, Holdings Channel reports. The fund owned 16,158 shares of the utilities provider’s stock after selling 1,435 shares during the quarter. Essex Financial Services Inc.’s holdings in Dominion Energy were worth $870,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Roble Belko & Company Inc acquired a new stake in Dominion Energy during the 4th quarter valued at $27,000. Sanctuary Wealth Management L.L.C. purchased a new position in Dominion Energy in the 3rd quarter valued at about $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Dominion Energy during the third quarter valued at about $32,000. Dunhill Financial LLC increased its position in shares of Dominion Energy by 601.2% during the third quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 487 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Dominion Energy by 282.4% in the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 449 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analysts Set New Price Targets

D has been the topic of several analyst reports. 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. Morgan Stanley initiated coverage on shares of Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price target on the stock. Scotiabank raised their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Finally, Barclays upped their target price 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. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.58.

Dominion Energy Price Performance

D opened at $55.73 on Wednesday. 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 company’s 50-day moving average price is $54.47 and its 200 day moving average price is $56.25. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The firm has a market cap of $46.81 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.18 and a beta of 0.61.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Friday, February 28th. Dominion Energy’s payout ratio is 93.68%.

About Dominion Energy

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.