Allegheny Financial Group Invests $281,000 in Dominion Energy, Inc. (NYSE:D)

Allegheny Financial Group purchased a new stake in shares of Dominion Energy, Inc. (NYSE:D - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,212 shares of the utilities provider's stock, valued at approximately $281,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Dominion Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider's stock worth $4,821,222,000 after acquiring an additional 674,859 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Dominion Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider's stock valued at $1,667,540,000 after buying an additional 1,459,926 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider's stock valued at $1,653,964,000 after buying an additional 1,222,688 shares in the last quarter. Geode Capital Management LLC increased its holdings in Dominion Energy by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider's stock worth $997,034,000 after acquiring an additional 601,900 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Dominion Energy by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider's stock valued at $804,606,000 after purchasing an additional 1,068,996 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on D shares. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Argus raised shares of Dominion Energy to a "hold" rating in a research note on Tuesday, March 25th. Morgan Stanley increased their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Finally, UBS Group increased their target price on Dominion Energy from $58.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $58.22.

Dominion Energy Stock Up 0.6 %

D traded up $0.33 on Thursday, reaching $55.48. The company's stock had a trading volume of 1,307,251 shares, compared to its average volume of 4,387,795. The company has a market capitalization of $47.31 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a fifty-two week low of $47.99 and a fifty-two week high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average of $53.97 and a two-hundred day moving average of $55.34.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter last year, the company posted $0.55 earnings per share. The business's quarterly revenue was up 12.2% compared to the same quarter last year. As a group, analysts forecast that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.81%. Dominion Energy's payout ratio is currently 100.00%.

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.