Alpine Bank Wealth Management Takes Position in Dominion Energy Inc. (NYSE:D)

Alpine Bank Wealth Management purchased a new stake in shares of Dominion Energy Inc. (NYSE:D) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,452 shares of the utilities provider’s stock, valued at approximately $81,000.

A number of other institutional investors have also added to or reduced their stakes in D. Brighton Jones LLC raised its position in Dominion Energy by 64.3% in the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock valued at $489,000 after purchasing an additional 3,553 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Dominion Energy in the fourth quarter valued at approximately $26,000. Pine Valley Investments Ltd Liability Co grew its holdings in Dominion Energy by 35.8% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,327 shares of the utilities provider’s stock worth $395,000 after acquiring an additional 1,930 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Dominion Energy by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock worth $804,606,000 after acquiring an additional 1,068,996 shares during the last quarter. Finally, FourThought Financial Partners LLC acquired a new position in Dominion Energy in the 4th quarter valued at approximately $361,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 18th. Argus raised Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. UBS Group increased their price target on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.38.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $55.25 on Thursday. The company has a market cap of $47.12 billion, a P/E ratio of 20.69, a PEG ratio of 1.22 and a beta of 0.56. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average price of $55.06 and a two-hundred day moving average price of $54.69. Dominion Energy Inc. has a 1-year low of $47.99 and a 1-year high of $61.97.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.95 billion. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. As a group, analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.83%. The ex-dividend date was Thursday, May 29th. Dominion Energy’s dividend payout ratio (DPR) is currently 100.00%.

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.