Dominion Energy Inc. $D Stock: Point Windward Advisors Inc. Reduces Position

Point Windward Advisors Inc. reduced its stake in Dominion Energy Inc. (NYSE:D) by 82.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,180 shares of the utilities provider’s stock after selling 33,177 shares during the period. Point Windward Advisors Inc.’s holdings in Dominion Energy were worth $435,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in D. BlackRock Inc. bought a new stake in shares of Dominion Energy during the 2nd quarter valued at $4,986,439,000. State Street Corp boosted its stake in Dominion Energy by 3.5% in the 2nd quarter. State Street Corp now owns 50,917,469 shares of the utilities provider’s stock worth $3,477,154,000 after purchasing an additional 1,704,954 shares during the period. Bank of America Corp DE boosted its stake in Dominion Energy by 15.7% in the 1st quarter. Bank of America Corp DE now owns 15,930,241 shares of the utilities provider’s stock worth $984,808,000 after purchasing an additional 2,164,951 shares during the period. Bank of New York Mellon Corp bought a new position in Dominion Energy in the 2nd quarter worth about $697,388,000. Finally, London Co. of Virginia grew its holdings in Dominion Energy by 45.3% during the 1st quarter. London Co. of Virginia now owns 6,943,525 shares of the utilities provider’s stock valued at $429,250,000 after buying an additional 2,165,195 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy News Roundup

These are some of the D news items that stood out recently:

• Negative Sentiment: Virginia Consumer Counsel has raised concerns about gaps in merger filings, including analysis of competitive effects and rate impacts, and whether customer protections would be enforceable. The criticism may complicate regulatory approval or require further review. Article: NextEra Energy draws fresh Virginia questions over merger consumer protections
• Negative Sentiment: Virginia Governor-elect Abigail Spanberger said assurances alone are insufficient on the merger, signaling that consumer protections and evidence will be closely scrutinized. This adds to uncertainty around the deal’s path to approval. Article: Spanberger says “Trust us” won’t cut it on Dominion merger
• Negative Sentiment: Dominion is seeking another rate increase as lawmakers hold an energy town hall. While approval could support utility revenues, the request may heighten affordability concerns and public or regulatory resistance. Article: Dominion seeks another rate hike as lawmakers hold energy town hall

Analyst Ratings Changes

Several brokerages have recently weighed in on D. TD Cowen upgraded Dominion Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $69.00 to $80.00 in a research report on Wednesday, August 19th. BMO Capital Markets increased their price target on shares of Dominion Energy from $64.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Dominion Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. UBS Group set a $80.00 price objective on shares of Dominion Energy in a research note on Wednesday, August 19th. Finally, Jefferies Financial Group decreased their target price on shares of Dominion Energy from $79.00 to $71.00 and set a “buy” rating on the stock in a report on Monday, September 21st. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.33.

Dominion Energy Price Performance

NYSE:D opened at $67.51 on Friday. The firm has a market capitalization of $59.38 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 3.16 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 stock has a fifty day moving average of $64.12 and a 200 day moving average of $65.14. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.69 and a current ratio of 0.88.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, October 30th. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. The business had revenue of $5.62 billion during the quarter, compared to analysts’ expectations 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 was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 earnings per share. On average, research analysts expect that Dominion Energy Inc. will post 3.59 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 20th. Stockholders 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 dividend yield of 4.0%. The ex-dividend date is Friday, December 4th. Dominion Energy’s dividend payout ratio (DPR) is 88.70%.

Dominion Energy Profile

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.