Arkadios Wealth Advisors Increases Stock Position in Dominion Energy Inc. (NYSE:D)

Key Points

• Arkadios Wealth Advisors increased its stake in Dominion Energy Inc. by 415% during the first quarter, acquiring an additional 20,461 shares, bringing its total holdings to 25,391 shares worth $1,424,000.
• Brokerages have recently changed their ratings on Dominion Energy, with JPMorgan Chase raising its price target from $53 to $56, while Morgan Stanley lowered its target from $62 to $60.
• Dominion Energy reported a quarterly earnings miss at $0.75 per share, slightly below the consensus estimate of $0.77, despite revenue increasing 9.3% year-over-year to $3.81 billion.

Arkadios Wealth Advisors increased its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 415.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,391 shares of the utilities provider's stock after purchasing an additional 20,461 shares during the quarter. Arkadios Wealth Advisors' holdings in Dominion Energy were worth $1,424,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Dominion Energy by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock worth $890,318,000 after buying an additional 939,835 shares in the last quarter. Bank of America Corp DE lifted its position in Dominion Energy by 2.9% during the fourth quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider's stock worth $643,422,000 after buying an additional 336,747 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Dominion Energy by 0.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider's stock worth $616,747,000 after buying an additional 63,206 shares in the last quarter. Invesco Ltd. lifted its position in Dominion Energy by 6.8% during the fourth quarter. Invesco Ltd. now owns 10,959,325 shares of the utilities provider's stock worth $590,269,000 after buying an additional 701,653 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Dominion Energy by 16.7% during the fourth quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock worth $501,759,000 after buying an additional 1,330,459 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on D. Morgan Stanley reduced their price objective on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $59.14.

Dominion Energy Stock Up 0.3%

D stock traded up $0.19 during midday trading on Wednesday, hitting $61.27. The company's stock had a trading volume of 3,037,210 shares, compared to its average volume of 5,377,146. The company has a quick ratio of 0.53, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. Dominion Energy Inc. has a 52-week low of $48.07 and a 52-week high of $61.97. The firm has a market capitalization of $52.29 billion, a P/E ratio of 21.11, a PEG ratio of 1.33 and a beta of 0.57. The firm has a 50-day simple moving average of $56.88 and a 200-day simple moving average of $55.47.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.73 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The business's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be given a $0.6675 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. Dominion Energy's dividend payout ratio is currently 92.07%.

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.