Axxcess Wealth Management LLC Sells 1,058 Shares of Dominion Energy, Inc. (NYSE:D)

Axxcess Wealth Management LLC reduced its stake in Dominion Energy, Inc. (NYSE:D) by 3.7% in the 1st quarter, HoldingsChannel reports. The firm owned 27,677 shares of the utilities provider’s stock after selling 1,058 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Dominion Energy were worth $1,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arlington Capital Management Inc. increased its stake in Dominion Energy by 1.2% in the first quarter. Arlington Capital Management Inc. now owns 16,476 shares of the utilities provider’s stock valued at $810,000 after purchasing an additional 197 shares in the last quarter. Ridgewood Investments LLC increased its position in shares of Dominion Energy by 0.9% during the first quarter. Ridgewood Investments LLC now owns 24,536 shares of the utilities provider’s stock worth $1,207,000 after acquiring an additional 210 shares in the last quarter. Lantz Financial LLC increased its position in shares of Dominion Energy by 4.0% during the first quarter. Lantz Financial LLC now owns 5,823 shares of the utilities provider’s stock worth $286,000 after acquiring an additional 222 shares in the last quarter. Seneca House Advisors increased its position in shares of Dominion Energy by 2.0% during the first quarter. Seneca House Advisors now owns 11,355 shares of the utilities provider’s stock worth $559,000 after acquiring an additional 228 shares in the last quarter. Finally, Choreo LLC increased its position in shares of Dominion Energy by 4.7% during the first quarter. Choreo LLC now owns 5,157 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 230 shares in the last quarter. 73.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

D has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Barclays decreased their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Mizuho boosted their price target on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Scotiabank cut their price target on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $54.00 in a report on Friday, May 10th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.64.

Dominion Energy Stock Performance

D traded up $0.40 during midday trading on Friday, reaching $52.70. The company had a trading volume of 2,994,129 shares, compared to its average volume of 3,121,377. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. The stock has a market cap of $44.14 billion, a PE ratio of 27.17, a P/E/G ratio of 1.40 and a beta of 0.58. Dominion Energy, Inc. has a 12-month low of $39.18 and a 12-month high of $54.30. The business has a 50-day moving average price of $51.15 and a two-hundred day moving average price of $49.13.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend was Friday, May 31st. Dominion Energy’s payout ratio is 137.63%.

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.