RiverFront Investment Group LLC Increases Holdings in Dominion Energy, Inc. (NYSE:D)

RiverFront Investment Group LLC raised its stake in Dominion Energy, Inc. (NYSE:D) by 41.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,735 shares of the utilities provider’s stock after buying an additional 1,979 shares during the quarter. RiverFront Investment Group LLC’s holdings in Dominion Energy were worth $330,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on D shares. Scotiabank upped their price objective 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. Jefferies Financial Group initiated coverage on Dominion Energy in a research report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. JPMorgan Chase & Co. raised their price target on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets boosted their price objective on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.50.

Dominion Energy Price Performance

Shares of NYSE D opened at $58.24 on Wednesday. The stock has a fifty day moving average price of $56.08 and a 200 day moving average price of $52.51. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $58.94. 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 has a market cap of $48.78 billion, a PE ratio of 30.02, a P/E/G ratio of 1.53 and a beta of 0.60.

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

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.6675 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.58%. 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.