Cornerstone Wealth Management LLC Buys 2,315 Shares of Dominion Energy, Inc. (NYSE:D)

Cornerstone Wealth Management LLC grew its stake in shares of Dominion Energy, Inc. (NYSE:D) by 44.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,559 shares of the utilities provider’s stock after acquiring an additional 2,315 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Dominion Energy were worth $437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SPC Financial Inc. increased its holdings in shares of Dominion Energy by 15.9% during the third quarter. SPC Financial Inc. now owns 11,694 shares of the utilities provider’s stock valued at $676,000 after acquiring an additional 1,600 shares in the last quarter. B.O.S.S. Retirement Advisors LLC increased its holdings in shares of Dominion Energy by 3.1% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 29,178 shares of the utilities provider’s stock valued at $1,686,000 after acquiring an additional 882 shares in the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of Dominion Energy during the third quarter valued at $228,000. Vontobel Holding Ltd. bought a new stake in Dominion Energy in the 3rd quarter worth about $389,000. Finally, Bill Few Associates Inc. increased its holdings in Dominion Energy by 3.1% in the 3rd quarter. Bill Few Associates Inc. now owns 56,875 shares of the utilities provider’s stock worth $3,287,000 after buying an additional 1,722 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Trading Up 0.3 %

Shares of NYSE:D opened at $59.92 on Friday. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $60.73. 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 $50.19 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.52 and a beta of 0.60. The stock’s 50-day simple moving average is $57.10 and its two-hundred day simple moving average is $53.29.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect 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 given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.46%. Dominion Energy’s payout ratio is currently 137.63%.

Analyst Ratings Changes

D has been the subject of several research analyst reports. Scotiabank lifted their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. 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 for the company. JPMorgan Chase & Co. lifted their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Barclays lifted their price objective on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.40.

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.