Birmingham Capital Management Co. Inc. AL Purchases Shares of 3,545 Dominion Energy, Inc. (NYSE:D)

Birmingham Capital Management Co. Inc. AL bought a new position in shares of Dominion Energy, Inc. (NYSE:D) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 3,545 shares of the utilities provider’s stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Sanctuary Wealth Management L.L.C. acquired a new stake in Dominion Energy during the 3rd quarter worth about $28,000. Family Firm Inc. bought a new stake in shares of Dominion Energy during the 2nd quarter valued at about $27,000. Frazier Financial Advisors LLC acquired a new stake in Dominion Energy during the third quarter worth approximately $32,000. Dunhill Financial LLC grew its stake in 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 purchasing an additional 487 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Dominion Energy by 282.4% during the 3rd quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after buying an additional 449 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Price Performance

Dominion Energy stock remained flat at $53.83 during midday trading on Friday. 364,623 shares of the company traded hands, compared to its average volume of 4,455,103. 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 has a market capitalization of $45.22 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.45 and a beta of 0.59. Dominion Energy, Inc. has a 1-year low of $43.53 and a 1-year high of $61.97. The stock’s 50-day simple moving average is $57.86 and its 200-day simple moving average is $55.19.

Dominion Energy (NYSE:D) last released its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the company posted $0.77 earnings per share. Dominion Energy’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.96%. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays boosted 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. Morgan Stanley assumed coverage on shares of Dominion Energy in a report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price objective on the stock. 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. Jefferies Financial Group assumed 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. Finally, Scotiabank raised their price objective on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday. Eleven equities research 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, Dominion Energy currently has a consensus rating of “Hold” and an average price target of $56.58.

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.