Cornerstone Wealth Group LLC Acquires 572 Shares of Dominion Energy, Inc. (NYSE:D)

Cornerstone Wealth Group LLC boosted its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,027 shares of the utilities provider’s stock after acquiring an additional 572 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Dominion Energy were worth $971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Roble Belko & Company Inc acquired a new position in shares of Dominion Energy in the fourth quarter worth approximately $27,000. Sanctuary Wealth Management L.L.C. bought a new position in Dominion Energy during the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Dominion Energy in the 3rd quarter worth approximately $32,000. Dunhill Financial LLC increased its position in shares of Dominion Energy by 601.2% during the third quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock worth $33,000 after buying an additional 487 shares during the period. Finally, Larson Financial Group LLC raised its stake in Dominion Energy by 282.4% during the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after buying an additional 449 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays upped their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Scotiabank upped their target price on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a report on Friday, November 8th. Finally, Morgan Stanley started coverage on Dominion Energy in a report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dominion Energy has a consensus rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Stock Performance

NYSE D opened at $53.48 on Monday. The company has a market cap of $44.93 billion, a P/E ratio of 18.77, a PEG ratio of 1.15 and a beta of 0.60. The company has a fifty day simple moving average of $55.20 and a 200 day simple moving average of $55.94. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts predict that Dominion Energy, Inc. will post 2.76 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were issued a $0.6675 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.99%. Dominion Energy’s dividend payout ratio is presently 93.68%.

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.