William B. Walkup & Associates Inc. Makes New $167,000 Investment in Dominion Energy, Inc. (NYSE:D)

William B. Walkup & Associates Inc. purchased a new stake in Dominion Energy, Inc. (NYSE:D) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,408 shares of the utilities provider’s stock, valued at approximately $167,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC raised its position in Dominion Energy by 31.5% during the second quarter. NewEdge Advisors LLC now owns 54,207 shares of the utilities provider’s stock worth $2,656,000 after acquiring an additional 12,999 shares during the last quarter. Creative Planning increased its stake in shares of Dominion Energy by 1.1% during the 2nd quarter. Creative Planning now owns 236,057 shares of the utilities provider’s stock worth $11,567,000 after purchasing an additional 2,606 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its position in shares of Dominion Energy by 78.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,142 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 503 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Dominion Energy by 0.7% in the 2nd quarter. Mackenzie Financial Corp now owns 852,891 shares of the utilities provider’s stock valued at $41,792,000 after buying an additional 6,280 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Dominion Energy by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,464,803 shares of the utilities provider’s stock valued at $71,775,000 after buying an additional 29,963 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

D has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Scotiabank boosted their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group began coverage on shares of Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price target for the company. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Dominion Energy currently has an average rating of “Hold” and an average price target of $54.50.

Dominion Energy Price Performance

D opened at $57.16 on Monday. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $58.94. The company’s 50 day simple moving average is $55.81 and its 200 day simple moving average is $52.36. The stock has a market capitalization of $47.88 billion, a PE ratio of 29.46, a P/E/G ratio of 1.53 and a beta of 0.60. 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 results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. Dominion Energy’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. As a group, sell-side analysts expect that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.6675 per share. The ex-dividend date was Friday, August 30th. This represents a $2.67 annualized dividend and a yield of 4.67%. Dominion Energy’s dividend payout ratio is presently 137.63%.

About Dominion Energy

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.