AlphaStar Capital Management LLC Makes New $418,000 Investment in Dominion Energy, Inc. (NYSE:D)

AlphaStar Capital Management LLC acquired a new stake in Dominion Energy, Inc. (NYSE:D) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,393 shares of the utilities provider’s stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Michigan Retirement System increased its holdings in shares of Dominion Energy by 2.0% in the 2nd quarter. State of Michigan Retirement System now owns 247,867 shares of the utilities provider’s stock valued at $12,145,000 after acquiring an additional 4,800 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Dominion Energy by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock valued at $734,007,000 after acquiring an additional 940,402 shares in the last quarter. TFG Advisers LLC grew its stake in Dominion Energy by 2.5% during the 2nd quarter. TFG Advisers LLC now owns 9,427 shares of the utilities provider’s stock worth $462,000 after buying an additional 226 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased 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 worth $535,000 after buying an additional 195 shares during the period. Finally, Kanawha Capital Management LLC lifted its stake in Dominion Energy by 3.1% in the second quarter. Kanawha Capital Management LLC now owns 198,803 shares of the utilities provider’s stock valued at $9,741,000 after buying an additional 5,996 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Price Performance

NYSE:D traded down $0.41 during trading hours on Tuesday, hitting $56.11. The company’s stock had a trading volume of 541,355 shares, compared to its average volume of 4,501,259. The company has a market capitalization of $47.00 billion, a PE ratio of 28.96, a PEG ratio of 1.51 and a beta of 0.58. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $57.60. The business’s 50-day moving average is $52.32 and its two-hundred day moving average is $50.55. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date is Friday, August 30th. Dominion Energy’s dividend payout ratio is currently 137.63%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on D shares. Wells Fargo & Company lifted their target price on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Scotiabank boosted their price target 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 increased their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Finally, StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Dominion Energy presently has an average rating of “Hold” and an average price target of $54.00.

Dominion Energy 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.