M&T Bank Corp Reduces Stake in Dominion Energy Inc. (NYSE:D)

M&T Bank Corp cut its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,965 shares of the utilities provider's stock after selling 6,108 shares during the quarter. M&T Bank Corp's holdings in Dominion Energy were worth $8,409,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Dominion Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider's stock worth $4,821,222,000 after acquiring an additional 674,859 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Dominion Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider's stock worth $1,667,540,000 after purchasing an additional 1,459,926 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Dominion Energy by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider's stock worth $997,034,000 after buying an additional 601,900 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Dominion Energy by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock valued at $890,318,000 after buying an additional 939,835 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Dominion Energy by 2.9% in the fourth quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider's stock worth $643,422,000 after buying an additional 336,747 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Down 1.3%

Shares of D stock traded down $0.78 during trading on Friday, reaching $57.38. The company's stock had a trading volume of 4,726,263 shares, compared to its average volume of 4,785,941. The company has a market capitalization of $48.94 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 1.25 and a beta of 0.56. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $61.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53. The stock's 50-day moving average price is $55.84 and its 200 day moving average price is $54.94.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The business had revenue of $4.08 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same period last year, the firm earned $0.55 earnings per share. The company's revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were paid a $0.6675 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.65%. Dominion Energy's dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Argus raised shares of Dominion Energy to a "hold" rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Morgan Stanley cut their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Finally, UBS Group boosted their price target on shares of Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $58.38.

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.