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

Axxcess Wealth Management LLC lifted its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 193.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,333 shares of the utilities provider’s stock after purchasing 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 filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Family Firm Inc. bought a new stake in Dominion Energy in the second quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in shares of Dominion Energy in the 1st quarter valued at $30,000. LRI Investments LLC acquired a new stake in shares of Dominion Energy during the first quarter worth $30,000. Triad Wealth Partners LLC bought a new position in Dominion Energy during the second quarter worth $33,000. Finally, Opal Wealth Advisors LLC acquired a new position in Dominion Energy in the second quarter valued at $35,000. Institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. 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. JPMorgan Chase & Co. raised their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, 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 note on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $54.11.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $58.37 on Wednesday. The business has a 50-day simple moving average of $54.84 and a 200 day simple moving average of $51.79. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $58.94. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The firm has a market capitalization of $48.89 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.53 and a beta of 0.60.

Dominion Energy (NYSE:D) last released 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 return on equity of 7.69% and a net margin of 11.63%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed 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. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is 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.