Dominion Energy Inc. $D Stock: Alps Advisors Inc. Boosts Position

Alps Advisors Inc. raised its stake in shares of Dominion Energy Inc. (NYSE:D) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 513,312 shares of the utilities provider’s stock after purchasing an additional 39,527 shares during the period. Alps Advisors Inc.’s holdings in Dominion Energy were worth $31,066,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Dominion Energy during the second quarter worth about $7,346,000. Ausbil Investment Management Ltd bought a new stake in Dominion Energy in the 2nd quarter valued at approximately $4,603,000. Florida Trust Wealth Management Co grew its stake in Dominion Energy by 51.6% during the second quarter. Florida Trust Wealth Management Co now owns 67,185 shares of the utilities provider’s stock worth $4,588,000 after buying an additional 22,870 shares in the last quarter. Compass Financial Management LLC bought a new stake in Dominion Energy in the second quarter valued at $1,141,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Dominion Energy during the 2nd quarter valued at $7,645,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

D has been the subject of several recent research reports. Scotiabank decreased their price objective on Dominion Energy from $67.00 to $63.00 and set a “sector perform” rating for the company in a report on Wednesday, September 30th. Barclays decreased their price objective on Dominion Energy from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Truist Financial dropped their target price on shares of Dominion Energy from $66.00 to $62.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. Evercore lifted their price target on shares of Dominion Energy from $67.00 to $70.00 in a report on Thursday, October 8th. Finally, Morgan Stanley decreased their price objective on shares of Dominion Energy from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Dominion Energy has a consensus rating of “Hold” and an average target price of $69.33.

Dominion Energy Trading Down 1.5%

NYSE:D opened at $68.58 on Friday. The company has a fifty day moving average of $63.95 and a 200 day moving average of $64.98. The firm has a market capitalization of $60.32 billion, a P/E ratio of 22.78, a P/E/G ratio of 3.14 and a beta of 0.62. Dominion Energy Inc. has a 52 week low of $55.85 and a 52 week high of $72.99. The company has a quick ratio of 0.64, a current ratio of 0.88 and a debt-to-equity ratio of 1.46.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Friday, October 30th. The utilities provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $5.62 billion for the quarter, compared to analyst estimates of $4.90 billion. Dominion Energy had a return on equity of 10.09% and a net margin of 13.99%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. On average, research analysts predict that Dominion Energy Inc. will post 3.59 earnings per share for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 20th. Shareholders of record on Friday, December 4th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 4th. Dominion Energy’s payout ratio is presently 88.70%.

Dominion Energy News Summary

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: Dominion and NextEra have offered additional customer protections as Virginia’s review advances. The concessions could help move the merger forward, though approval is not assured. NextEra, Dominion strengthen proposed merger with additional customer protections
• Positive Sentiment: Loudoun County approved a Dominion substation despite lingering concerns, supporting the company’s ability to expand infrastructure for growing electricity demand, including from data centers. Loudoun approves Dominion substation despite lingering concerns
• Positive Sentiment: Recent offshore-wind progress and increased contracted data-center capacity could support future earnings and cash flows. Dominion’s strong three-year share-price performance, however, raises the bar for continued earnings growth. Dominion Energy (D) Stock Looks In Line Following Offshore Wind Progress
• Neutral Sentiment: Public hearings on the merger are underway, with debate focused on customer costs and protections. The outcome may affect both the transaction’s prospects and the regulatory framework for utilities serving fast-growing power demand. Packed SCC hearing draws strong opinions over proposed Energy merger
• Negative Sentiment: Dominion and NextEra accepted some proposed merger protections but rejected a rate and staffing freeze. That stance could fuel opposition and leave uncertainty over whether regulators will approve the deal and on what terms. Dominion-NextEra accept some proposed protections in Va. merger case, rejects rate and staffing freeze
• Negative Sentiment: Families are pushing back against a proposed Dominion transmission-line project, creating potential permitting or construction delays for planned infrastructure. Families push back against proposed Dominion Energy Transmission Line Project

About Dominion Energy

Dominion Energy, Inc (NYSE: D) is an energy company focused primarily on regulated electric and natural gas utility services. Its businesses generate, transmit and distribute electricity and deliver natural gas to residential, commercial and industrial customers.

The company’s electric utility operations serve customers in Virginia and northeastern North Carolina, as well as parts of South Carolina through Dominion Energy South Carolina. Its power portfolio includes nuclear, natural gas, solar and other energy sources.

Dominion traces its roots to 1909 and adopted the Dominion Energy name in 2017.