Alta Advisers Ltd Takes Position in Dominion Energy Inc. (NYSE:D)

Alta Advisers Ltd purchased a new stake in Dominion Energy Inc. (NYSE:D - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,461 shares of the utilities provider's stock, valued at approximately $250,000.

Several other hedge funds also recently modified their holdings of the company. Cape Investment Advisory Inc. raised its holdings in shares of Dominion Energy by 175.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider's stock worth $25,000 after acquiring an additional 300 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Dominion Energy by 450.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock worth $25,000 after purchasing an additional 378 shares during the period. Fairway Wealth LLC acquired a new position in shares of Dominion Energy during the 4th quarter worth approximately $27,000. Orion Capital Management LLC bought a new position in shares of Dominion Energy in the fourth quarter valued at about $27,000. Finally, Park Square Financial Group LLC bought a new position in Dominion Energy in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 73.04% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on D shares. UBS Group raised their price objective on Dominion Energy from $58.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley lowered their price target on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Finally, Argus upgraded shares of Dominion Energy to a "hold" rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy currently has an average rating of "Hold" and a consensus target price of $58.38.

Dominion Energy Stock Down 0.4%

Dominion Energy stock traded down $0.21 during mid-day trading on Wednesday, reaching $57.44. The stock had a trading volume of 7,516,322 shares, compared to its average volume of 4,745,685. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.73. Dominion Energy Inc. has a fifty-two week low of $48.03 and a fifty-two week high of $61.97. The stock's 50-day simple moving average is $55.34 and its 200-day simple moving average is $54.74. The firm has a market capitalization of $48.98 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56.

Dominion Energy (NYSE:D - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. On average, sell-side analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Thursday, May 29th. Dominion Energy's dividend payout ratio is 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.