LongView Wealth Management Invests $622,000 in Dominion Energy, Inc. (NYSE:D)

LongView Wealth Management bought a new position in shares of Dominion Energy, Inc. (NYSE:D) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,769 shares of the utilities provider’s stock, valued at approximately $622,000.

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

Dominion Energy Price Performance

Shares of NYSE:D opened at $56.22 on Friday. The business’s 50 day simple moving average is $56.65 and its 200-day simple moving average is $52.93. The firm has a market capitalization of $47.17 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 1.50 and a beta of 0.60. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $58.94.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, equities analysts forecast 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 was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is 140.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on D. BMO Capital Markets boosted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Scotiabank lifted their price objective on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Nine equities research 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 company currently has an average rating of “Hold” and a consensus price target of $54.50.

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.