Axxcess Wealth Management LLC Buys 53,656 Shares of Dominion Energy, Inc. (NYSE:D)

Axxcess Wealth Management LLC raised its stake in shares of Dominion Energy, Inc. (NYSE:D) by 193.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,333 shares of the utilities provider’s stock after acquiring an additional 53,656 shares during the period. Axxcess Wealth Management LLC’s holdings in Dominion Energy were worth $3,985,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of D. Virtu Financial LLC purchased a new position in shares of Dominion Energy in the 2nd quarter worth approximately $1,508,000. Edgestream Partners L.P. bought a new position in Dominion Energy in the 2nd quarter valued at $214,000. Moors & Cabot Inc. grew its stake in Dominion Energy by 12.6% in the 2nd quarter. Moors & Cabot Inc. now owns 27,370 shares of the utilities provider’s stock valued at $1,341,000 after purchasing an additional 3,071 shares during the period. Excalibur Management Corp raised its stake in shares of Dominion Energy by 3.2% during the 2nd quarter. Excalibur Management Corp now owns 14,936 shares of the utilities provider’s stock worth $732,000 after purchasing an additional 458 shares during the period. Finally, Luts & Greenleigh Group Inc. purchased a new position in shares of Dominion Energy in the 2nd quarter worth about $299,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on D shares. JPMorgan Chase & Co. raised their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. BMO Capital Markets raised their price target 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. Finally, Scotiabank upped 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. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.11.

Dominion Energy Stock Performance

Shares of D stock opened at $58.37 on Wednesday. The firm’s 50 day moving average is $54.84 and its 200 day moving average is $51.79. The stock has a market capitalization of $48.89 billion, a P/E ratio of 30.09, a PEG ratio of 1.53 and a beta of 0.60. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $58.94. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a $0.6675 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.67 annualized dividend and a yield of 4.57%. Dominion Energy’s dividend payout ratio is currently 137.63%.

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.