Pinnacle West Asset Management Inc. Makes New $238,000 Investment in Dominion Energy, Inc. (NYSE:D)

Pinnacle West Asset Management Inc. acquired a new position in shares of Dominion Energy, Inc. (NYSE:D) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,120 shares of the utilities provider’s stock, valued at approximately $238,000.

Other large investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its holdings in shares of Dominion Energy by 25.8% during the 1st quarter. AdvisorNet Financial Inc now owns 3,992 shares of the utilities provider’s stock worth $196,000 after purchasing an additional 819 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Dominion Energy by 27.4% during the 1st quarter. Gateway Investment Advisers LLC now owns 5,442 shares of the utilities provider’s stock worth $268,000 after purchasing an additional 1,169 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Dominion Energy by 48.7% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 10,342 shares of the utilities provider’s stock worth $509,000 after purchasing an additional 3,387 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Dominion Energy by 7.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 109,649 shares of the utilities provider’s stock worth $5,394,000 after purchasing an additional 7,670 shares in the last quarter. Finally, Chesley Taft & Associates LLC grew its holdings in shares of Dominion Energy by 42.6% during the 1st quarter. Chesley Taft & Associates LLC now owns 15,227 shares of the utilities provider’s stock worth $749,000 after purchasing an additional 4,550 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank raised their price objective on 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 note on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective on the stock. BMO Capital Markets lifted their price target 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. JPMorgan Chase & Co. lifted their price target on 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 lifted their price target on 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.40.

Dominion Energy Trading Down 0.0 %

Shares of D traded down $0.01 during mid-day trading on Thursday, reaching $60.92. 927,253 shares of the company were exchanged, compared to its average volume of 4,376,278. Dominion Energy, Inc. has a 52 week low of $39.44 and a 52 week high of $61.26. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The stock has a market capitalization of $51.11 billion, a PE ratio of 32.07, a PEG ratio of 1.60 and a beta of 0.60. The business has a 50 day simple moving average of $57.41 and a two-hundred day simple moving average of $53.57.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. On average, analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.6675 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a yield of 4.38%. Dominion Energy’s payout ratio is currently 140.53%.

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.