Allworth Financial LP Increases Position in Dominion Energy, Inc. (NYSE:D)

Allworth Financial LP increased its stake in Dominion Energy, Inc. (NYSE:D) by 5.8% in the 3rd quarter, Holdings Channel reports. The fund owned 19,003 shares of the utilities provider’s stock after buying an additional 1,041 shares during the quarter. Allworth Financial LP’s holdings in Dominion Energy were worth $1,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Family Firm Inc. bought a new stake in Dominion Energy in the second quarter worth $27,000. LRI Investments LLC bought a new stake in Dominion Energy in the first quarter worth $30,000. Triad Wealth Partners LLC bought a new stake in Dominion Energy in the second quarter worth $33,000. Opal Wealth Advisors LLC bought a new stake in Dominion Energy in the second quarter worth $35,000. Finally, Kimelman & Baird LLC bought a new stake in Dominion Energy in the second quarter worth $36,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Scotiabank boosted their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price target for the company. BMO Capital Markets upped their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays upped their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.40.

Dominion Energy Price Performance

Shares of NYSE D opened at $60.12 on Tuesday. Dominion Energy, Inc. has a 1 year low of $39.44 and a 1 year high of $61.26. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The company’s 50-day moving average is $57.67 and its 200 day moving average is $53.84. The stock has a market capitalization of $50.36 billion, a P/E ratio of 30.99, a P/E/G ratio of 1.59 and a beta of 0.60.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (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 company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. Dominion Energy’s quarterly revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

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.