AdvisorNet Financial Inc Reduces Stake in Dominion Energy, Inc. (NYSE:D)

AdvisorNet Financial Inc decreased its position in Dominion Energy, Inc. (NYSE:D) by 6.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,726 shares of the utilities provider’s stock after selling 266 shares during the period. AdvisorNet Financial Inc’s holdings in Dominion Energy were worth $183,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new stake in Dominion Energy in the 4th quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in shares of Dominion Energy during the first quarter valued at $30,000. LRI Investments LLC purchased a new stake in Dominion Energy during the 1st quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in Dominion Energy in the 2nd quarter valued at about $35,000. Finally, Lynx Investment Advisory purchased a new position in Dominion Energy in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Down 0.4 %

Shares of D stock traded down $0.22 during mid-day trading on Thursday, reaching $55.29. The company’s stock had a trading volume of 2,384,094 shares, compared to its average volume of 4,605,471. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $46.38 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.58. The company’s 50 day simple moving average is $51.49 and its 200-day simple moving average is $49.90. Dominion Energy, Inc. has a 12-month low of $39.18 and a 12-month high of $57.60.

Dominion Energy (NYSE:D) last issued 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. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company 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 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts predict that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is currently 137.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $43.00 to $54.00 in a report on Friday, May 10th. Scotiabank lowered their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, BMO Capital Markets lifted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $52.73.

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.