Sandy Spring Bank Acquires 2,857 Shares of Dominion Energy, Inc. (NYSE:D)

Sandy Spring Bank grew its holdings in Dominion Energy, Inc. (NYSE:D) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 50,620 shares of the utilities provider’s stock after buying an additional 2,857 shares during the quarter. Sandy Spring Bank’s holdings in Dominion Energy were worth $2,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of D. Cape Investment Advisory Inc. boosted its stake in shares of Dominion Energy by 175.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock worth $25,000 after buying an additional 300 shares during the last quarter. BankPlus Trust Department purchased a new position in shares of Dominion Energy in the 4th quarter worth $26,000. Roble Belko & Company Inc purchased a new position in shares of Dominion Energy in the 4th quarter worth $27,000. Fairway Wealth LLC purchased a new position in shares of Dominion Energy in the 4th quarter worth $27,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Dominion Energy by 100.4% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 519 shares of the utilities provider’s stock worth $28,000 after buying an additional 260 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Price Performance

NYSE:D opened at $54.91 on Friday. 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 business’s 50-day simple moving average is $55.17 and its two-hundred day simple moving average is $56.31. The stock has a market cap of $46.79 billion, a PE ratio of 20.34, a P/E/G ratio of 1.22 and a beta of 0.58. Dominion Energy, Inc. has a 52 week low of $46.56 and a 52 week high of $61.97.

Dominion Energy (NYSE:D) last issued its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. As a group, analysts forecast that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were issued a $0.6675 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.67 annualized dividend and a dividend yield of 4.86%. Dominion Energy’s dividend payout ratio (DPR) is 98.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on D shares. JPMorgan Chase & Co. raised their price target on Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley lifted their target price on Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Scotiabank lifted their target price on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.36.

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.