M&T Bank Corp Acquires 5,931 Shares of Dominion Energy, Inc. (NYSE:D)

M&T Bank Corp raised its position in shares of Dominion Energy, Inc. (NYSE:D – Get Rating) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 174,515 shares of the utilities provider’s stock after purchasing an additional 5,931 shares during the quarter. M&T Bank Corp’s holdings in Dominion Energy were worth $12,061,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in D. Canada Pension Plan Investment Board grew its stake in shares of Dominion Energy by 486.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,364,622 shares of the utilities provider’s stock valued at $716,299,000 after purchasing an additional 8,596,097 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Dominion Energy by 28.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 28,007,574 shares of the utilities provider’s stock valued at $2,235,284,000 after buying an additional 6,156,960 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Dominion Energy by 22.4% during the 2nd quarter. Franklin Resources Inc. now owns 18,008,133 shares of the utilities provider’s stock valued at $1,437,229,000 after buying an additional 3,291,401 shares in the last quarter. BlackRock Inc. lifted its position in shares of Dominion Energy by 5.5% during the 3rd quarter. BlackRock Inc. now owns 58,954,665 shares of the utilities provider’s stock valued at $4,074,356,000 after buying an additional 3,051,912 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Dominion Energy by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 73,953,046 shares of the utilities provider’s stock valued at $5,110,895,000 after buying an additional 2,767,626 shares in the last quarter. 70.30% of the stock is currently owned by institutional investors.

Dominion Energy Stock Performance

Shares of NYSE D opened at $55.91 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.60 and a debt-to-equity ratio of 1.49. The stock has a 50 day simple moving average of $59.35 and a 200-day simple moving average of $64.54. The company has a market cap of $46.70 billion, a PE ratio of 51.29, a P/E/G ratio of 0.89 and a beta of 0.45. Dominion Energy, Inc. has a 12-month low of $52.92 and a 12-month high of $88.78.

Dominion Energy (NYSE:D – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Dominion Energy had a return on equity of 13.35% and a net margin of 5.79%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, equities research analysts forecast that Dominion Energy, Inc. will post 4 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Thursday, March 2nd. Dominion Energy’s dividend payout ratio (DPR) is currently 244.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com began coverage on Dominion Energy in a research report on Thursday. They set a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on Dominion Energy from $76.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, January 11th. UBS Group dropped their price objective on Dominion Energy from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, March 7th. Morgan Stanley decreased their target price on Dominion Energy from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 22nd. Finally, Credit Suisse Group decreased their target price on Dominion Energy from $67.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $66.50.

About Dominion Energy

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Dominion Energy, Inc engages in the production and distribution of energy. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets, and Corporate and Other. The Corporate and Other segment focuses on corporate, service company, non-controlling interest in Dominion privatization, and non-regulated retail energy marketing operations.