Occidental Asset Management LLC Takes $4.04 Million Position in Dominion Energy, Inc. (NYSE:D)

Occidental Asset Management LLC acquired a new position in shares of Dominion Energy, Inc. (NYSE:D) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 69,976 shares of the utilities provider’s stock, valued at approximately $4,044,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Family Firm Inc. purchased a new position in Dominion Energy in the second quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in shares of Dominion Energy in the 1st quarter worth approximately $30,000. LRI Investments LLC purchased a new position in Dominion Energy in the 1st quarter valued at approximately $30,000. Triad Wealth Partners LLC acquired a new position in Dominion Energy during the second quarter worth $33,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Dominion Energy during the second quarter worth $35,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Performance

Shares of D opened at $56.93 on Tuesday. 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 $56.70 and its 200 day simple moving average is $53.06. The company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.48 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 issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping 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 return on equity of 7.69% and a net margin of 11.63%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. On average, sell-side analysts predict that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Friday, August 30th. Dominion Energy’s dividend payout ratio is currently 137.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on D shares. Jefferies Financial Group started coverage on Dominion Energy in a research report on Friday, September 20th. They issued a “hold” rating and a $58.00 price target for the company. 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. JPMorgan Chase & Co. upped their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets raised their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Nine 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 currently has an average rating of “Hold” and a consensus target price of $54.50.

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.