Alpha Cubed Investments LLC Reduces Stock Position in Dominion Energy, Inc. (NYSE:D)

Alpha Cubed Investments LLC lowered its position in Dominion Energy, Inc. (NYSE:D) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,187 shares of the utilities provider’s stock after selling 643 shares during the period. Alpha Cubed Investments LLC’s holdings in Dominion Energy were worth $244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. grew its position in shares of Dominion Energy by 5.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock valued at $178,176,000 after purchasing an additional 199,629 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Dominion Energy by 196.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after buying an additional 259,978 shares during the last quarter. Morgan Stanley increased its position in Dominion Energy by 12.8% during the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after buying an additional 803,341 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Dominion Energy by 1,797.9% in the fourth quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock worth $7,798,000 after acquiring an additional 157,175 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Dominion Energy by 97.3% in the fourth quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after acquiring an additional 7,071 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho lowered their target price on shares of Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. StockNews.com downgraded Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Bank of America lifted their price target on Dominion Energy from $40.00 to $43.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. Guggenheim cut their price objective on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Barclays lowered their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Two 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, the stock has an average rating of “Hold” and an average price target of $49.10.

Dominion Energy Stock Performance

Dominion Energy stock opened at $51.15 on Thursday. Dominion Energy, Inc. has a 52 week low of $39.18 and a 52 week high of $57.27. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The stock has a market cap of $42.84 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. The stock has a 50 day moving average of $48.48 and a 200-day moving average of $46.58.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 EPS. On average, analysts expect that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Insider Transactions at Dominion Energy

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

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.