Pinnacle Associates Ltd. Increases Stock Position in Dominion Energy, Inc. (NYSE:D)

Pinnacle Associates Ltd. raised its stake in Dominion Energy, Inc. (NYSE:D) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,916 shares of the utilities provider’s stock after acquiring an additional 558 shares during the period. Pinnacle Associates Ltd.’s holdings in Dominion Energy were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in shares of Dominion Energy in the 2nd quarter valued at about $27,000. Rise Advisors LLC purchased a new position in shares of Dominion Energy during the first quarter worth approximately $30,000. LRI Investments LLC acquired a new position in shares of Dominion Energy in the 1st quarter valued at $32,000. Triad Wealth Partners LLC acquired a new position in shares of Dominion Energy in the 2nd quarter valued at $33,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Dominion Energy in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on D shares. StockNews.com upgraded shares of Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $43.00 to $54.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. increased their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets boosted their target price on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Finally, Scotiabank increased their price target on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.00.

Dominion Energy Price Performance

Dominion Energy stock opened at $55.90 on Friday. The company has a market cap of $46.90 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.58. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $57.60. The business has a fifty day moving average of $52.85 and a two-hundred day moving average of $50.78. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, August 30th. Dominion Energy’s dividend payout ratio is currently 137.63%.

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.