Axxcess Wealth Management LLC Increases Position in Dominion Energy, Inc. (NYSE:D)

Axxcess Wealth Management LLC increased its stake in shares of Dominion Energy, Inc. (NYSE:D) by 17.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,735 shares of the utilities provider’s stock after buying an additional 4,214 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Dominion Energy were worth $1,351,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in D. Wellington Management Group LLP grew its position in Dominion Energy by 631.2% during the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares during the period. JPMorgan Chase & Co. grew its position in shares of Dominion Energy by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after acquiring an additional 1,928,823 shares during the period. Magellan Asset Management Ltd grew its position in shares of Dominion Energy by 53.1% during the 3rd quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock valued at $199,800,000 after acquiring an additional 1,551,611 shares during the period. Federated Hermes Inc. grew its position in shares of Dominion Energy by 12.0% during the 3rd quarter. Federated Hermes Inc. now owns 7,536,507 shares of the utilities provider’s stock valued at $336,656,000 after acquiring an additional 805,570 shares during the period. Finally, Morgan Stanley grew its position in shares of Dominion Energy by 12.8% during the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after acquiring an additional 803,341 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Joseph M. Rigby bought 2,130 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the acquisition, the director now directly owns 8,417 shares in the company, valued at approximately $395,093.98. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Dominion Energy news, Director Joseph M. Rigby acquired 2,130 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares in the company, valued at $395,093.98. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert M. Blue purchased 21,735 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on D. StockNews.com lowered shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Evercore ISI raised their price target on shares of Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Friday. Mizuho raised their price target on shares of Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday. BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research note on Monday, March 11th. Finally, Wells Fargo & Company raised their target price on shares of Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.45.

Dominion Energy Price Performance

Dominion Energy stock opened at $51.52 on Monday. The firm has a market capitalization of $43.15 billion, a P/E ratio of 26.49, a PEG ratio of 3.43 and a beta of 0.59. The firm has a fifty day moving average of $48.67 and a 200-day moving average of $46.76. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $57.27.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS 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 the consensus estimate of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. As a group, analysts predict that Dominion Energy, Inc. will post 2.75 EPS for the current year.

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.