SteelPeak Wealth LLC Cuts Position in Dominion Energy, Inc. (NYSE:D)

SteelPeak Wealth LLC cut its stake in Dominion Energy, Inc. (NYSE:D) by 15.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,440 shares of the utilities provider’s stock after selling 2,913 shares during the period. SteelPeak Wealth LLC’s holdings in Dominion Energy were worth $892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. grew its position in Dominion Energy by 6.0% in the third quarter. Pinnacle Associates Ltd. now owns 29,602 shares of the utilities provider’s stock worth $1,711,000 after acquiring an additional 1,686 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Dominion Energy by 4.1% in the third quarter. First Trust Direct Indexing L.P. now owns 30,814 shares of the utilities provider’s stock worth $1,781,000 after acquiring an additional 1,201 shares in the last quarter. Pathway Financial Advisers LLC grew its position in Dominion Energy by 351.8% in the third quarter. Pathway Financial Advisers LLC now owns 48,176 shares of the utilities provider’s stock worth $2,784,000 after acquiring an additional 37,514 shares in the last quarter. Highview Capital Management LLC DE boosted its position in Dominion Energy by 1.3% during the third quarter. Highview Capital Management LLC DE now owns 16,559 shares of the utilities provider’s stock valued at $957,000 after buying an additional 211 shares during the period. Finally, Eagle Strategies LLC purchased a new stake in Dominion Energy during the third quarter valued at about $205,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on D shares. Jefferies Financial Group started coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target for the company. Scotiabank upped their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets upped their price target on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Finally, Barclays upped their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Dominion Energy presently has a consensus rating of “Hold” and a consensus price target of $55.40.

Dominion Energy Price Performance

D stock opened at $58.46 on Thursday. Dominion Energy, Inc. has a 1 year low of $39.44 and a 1 year high of $61.26. The company has a market cap of $48.97 billion, a P/E ratio of 30.13, a PEG ratio of 1.59 and a beta of 0.60. The firm has a 50-day moving average of $57.76 and a 200 day moving average of $53.94. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Dominion Energy’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Dominion Energy, Inc. will post 2.76 EPS for the current year.

About Dominion Energy

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.