Pallas Capital Advisors LLC Takes Position in Dominion Energy, Inc. (NYSE:D)

Pallas Capital Advisors LLC bought a new position in Dominion Energy, Inc. (NYSE:D) in the 3rd quarter, HoldingsChannel reports. The fund bought 5,241 shares of the utilities provider’s stock, valued at approximately $318,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BLB&B Advisors LLC boosted its position in shares of Dominion Energy by 2.5% in the third quarter. BLB&B Advisors LLC now owns 7,223 shares of the utilities provider’s stock worth $417,000 after buying an additional 173 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its position in Dominion Energy by 1.8% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 195 shares during the last quarter. Valley National Advisers Inc. boosted its position in Dominion Energy by 8.6% during the second quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 198 shares during the last quarter. Altman Advisors Inc. boosted its position in Dominion Energy by 0.7% during the second quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock valued at $1,423,000 after purchasing an additional 198 shares during the last quarter. Finally, Centennial Wealth Advisory LLC boosted its position in Dominion Energy by 2.8% during the second quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Trading Up 1.8 %

Dominion Energy stock opened at $59.53 on Friday. 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 business’s 50-day simple moving average is $57.82 and its 200-day simple moving average is $53.98. The firm has a market capitalization of $49.86 billion, a PE ratio of 30.69, a PEG ratio of 1.59 and a beta of 0.60. Dominion Energy, Inc. has a 52 week low of $39.44 and a 52 week high of $61.26.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Equities research analysts forecast that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.49%. Dominion Energy’s payout ratio is presently 137.63%.

Wall Street Analysts Forecast Growth

D has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective for the company. Barclays lifted their price objective on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Scotiabank lifted their price objective on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets raised their target price on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their target price 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.com, Dominion Energy has a consensus rating of “Hold” and an average price target 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.