Alpha Cubed Investments LLC Has $300,000 Stock Position in Dominion Energy, Inc. (NYSE:D)

Alpha Cubed Investments LLC cut its stake in shares of Dominion Energy, Inc. (NYSE:D) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,187 shares of the utilities provider’s stock after selling 724 shares during the period. Alpha Cubed Investments LLC’s holdings in Dominion Energy were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Dominion Energy by 1.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock valued at $535,000 after acquiring an additional 195 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Dominion Energy by 8.6% during the second quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 198 shares during the period. Altman Advisors Inc. raised its position in shares of Dominion Energy by 0.7% in the second quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock valued at $1,423,000 after buying an additional 198 shares in the last quarter. Centennial Wealth Advisory LLC boosted its stake in shares of Dominion Energy by 2.8% in the second quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock valued at $362,000 after buying an additional 199 shares during the period. Finally, Ridgewood Investments LLC grew its position in Dominion Energy by 0.9% during the first quarter. Ridgewood Investments LLC now owns 24,536 shares of the utilities provider’s stock worth $1,207,000 after buying an additional 210 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Jefferies Financial Group started coverage on shares of Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price objective on the stock. Scotiabank raised their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets upped their price target on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.50.

Dominion Energy Price Performance

Shares of NYSE:D opened at $56.81 on Wednesday. Dominion Energy, Inc. has a one year low of $39.18 and a one 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 $47.58 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.55 and a beta of 0.60. The firm has a 50 day simple moving average of $56.51 and a 200 day simple moving average of $52.77.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. Dominion Energy’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Research 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 disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Friday, August 30th. Dominion Energy’s dividend payout ratio is currently 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.