Concord Asset Management LLC VA Has $1.16 Million Stock Holdings in Dominion Energy Inc. $D

Concord Asset Management LLC VA increased its stake in shares of Dominion Energy Inc. (NYSE:D) by 36.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,445 shares of the utilities provider’s stock after purchasing an additional 5,479 shares during the quarter. Concord Asset Management LLC VA’s holdings in Dominion Energy were worth $1,156,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. AlphaQuest LLC bought a new stake in Dominion Energy during the 1st quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new stake in Dominion Energy during the 1st quarter worth approximately $28,000. Dagco Inc. bought a new stake in Dominion Energy during the 1st quarter worth approximately $31,000. ANTIPODES PARTNERS Ltd bought a new stake in Dominion Energy during the 1st quarter worth approximately $34,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Dominion Energy during the 1st quarter worth approximately $34,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Trading Up 1.1%

NYSE:D opened at $60.92 on Monday. The firm’s fifty day moving average is $60.46 and its 200-day moving average is $57.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.67. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $62.46. The firm has a market cap of $51.99 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.32 and a beta of 0.62.

Dominion Energy (NYSE:D) last released its earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, September 20th. Investors of record on Friday, September 5th were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, September 5th. Dominion Energy’s payout ratio is presently 92.07%.

Insider Activity

In related news, CEO Robert M. Blue bought 4,152 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the transaction, the chief executive officer directly owned 161,237 shares of the company’s stock, valued at approximately $9,730,652.95. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Dominion Energy in a report on Tuesday, October 7th. They set an “in-line” rating and a $67.00 target price on the stock. Morgan Stanley reduced their target price on shares of Dominion Energy from $64.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. Barclays boosted their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $56.00 to $59.00 and gave the company an “underweight” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dominion Energy in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.00.

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.