Summit Asset Management LLC Sells 1,550 Shares of Dominion Energy, Inc. (NYSE:D)

Summit Asset Management LLC lowered its stake in shares of Dominion Energy, Inc. (NYSE:D) by 23.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,926 shares of the utilities provider’s stock after selling 1,550 shares during the period. Summit Asset Management LLC’s holdings in Dominion Energy were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC bought a new position in Dominion Energy in the third quarter valued at about $371,000. FinTrust Capital Advisors LLC grew its position in Dominion Energy by 21.6% during the third quarter. FinTrust Capital Advisors LLC now owns 5,406 shares of the utilities provider’s stock valued at $241,000 after buying an additional 961 shares during the period. Raymond James & Associates increased its holdings in Dominion Energy by 2.8% during the third quarter. Raymond James & Associates now owns 1,780,677 shares of the utilities provider’s stock valued at $79,543,000 after buying an additional 48,079 shares during the last quarter. Stratos Wealth Advisors LLC raised its position in Dominion Energy by 14.1% in the third quarter. Stratos Wealth Advisors LLC now owns 9,521 shares of the utilities provider’s stock worth $425,000 after acquiring an additional 1,173 shares during the period. Finally, Independent Advisor Alliance boosted its stake in shares of Dominion Energy by 2.4% during the 3rd quarter. Independent Advisor Alliance now owns 51,774 shares of the utilities provider’s stock worth $2,313,000 after acquiring an additional 1,190 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Price Performance

Shares of NYSE D traded down $0.21 during mid-day trading on Thursday, hitting $50.94. 1,975,389 shares of the company’s stock traded hands, compared to its average volume of 5,269,682. The company has a market capitalization of $42.67 billion, a P/E ratio of 21.95, a PEG ratio of 3.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97. The company’s 50-day moving average is $48.48 and its two-hundred day moving average is $46.58. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $57.27.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company earned $0.99 earnings per share. Dominion Energy’s revenue was down 6.5% on a year-over-year basis. On average, equities analysts anticipate that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on D. Wells Fargo & Company lifted their target price on Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Monday, March 11th. StockNews.com cut shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Guggenheim lowered their price target on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Scotiabank dropped their price objective on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dominion Energy has an average rating of “Hold” and a consensus price target of $49.10.

Insider Buying and Selling

In other Dominion Energy news, Director Joseph M. Rigby purchased 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The shares were purchased 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 owns 8,417 shares in the company, valued at approximately $395,093.98. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Joseph M. Rigby purchased 2,130 shares of Dominion Energy stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the purchase, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert M. Blue acquired 21,735 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $45.91 per share, with a total value of $997,853.85. Following the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

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.