Dominion Energy Inc. $D Stock Position Lowered by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its position in shares of Dominion Energy Inc. (NYSE:D) by 16.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,734 shares of the utilities provider’s stock after selling 12,187 shares during the period. Oppenheimer & Co. Inc.’s holdings in Dominion Energy were worth $3,797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new position in Dominion Energy during the 2nd quarter worth approximately $31,000. Beacon Financial Strategies CORP increased its position in Dominion Energy by 269.2% during the second quarter. Beacon Financial Strategies CORP now owns 480 shares of the utilities provider’s stock worth $33,000 after buying an additional 350 shares during the period. Arlington Trust Co LLC lifted its stake in Dominion Energy by 47.1% in the second quarter. Arlington Trust Co LLC now owns 500 shares of the utilities provider’s stock valued at $34,000 after buying an additional 160 shares during the last quarter. Burnham & Co LLC purchased a new stake in Dominion Energy in the second quarter valued at approximately $34,000. Finally, Community Bank N.A. acquired a new stake in shares of Dominion Energy in the second quarter valued at approximately $35,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Stock Performance

Shares of D stock opened at $65.04 on Friday. The stock’s 50-day moving average price is $63.79 and its 200 day moving average price is $64.73. The company has a quick ratio of 0.64, a current ratio of 0.81 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $57.21 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.98 and a beta of 0.64. Dominion Energy Inc. has a 52-week low of $55.85 and a 52-week high of $72.99.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. Dominion Energy had a return on equity of 9.62% and a net margin of 13.98%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts forecast that Dominion Energy Inc. will post 3.59 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 20th. Investors of record on Friday, December 4th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $2.67 annualized dividend and a dividend yield of 4.1%. Dominion Energy’s dividend payout ratio (DPR) is currently 93.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on D. BMO Capital Markets raised their target price on shares of Dominion Energy from $64.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Barclays reduced their price target on shares of Dominion Energy from $69.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Weiss Ratings downgraded shares of Dominion Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. UBS Group set a $80.00 price target on shares of Dominion Energy in a research note on Wednesday, August 19th. Finally, Truist Financial lowered their price objective on shares of Dominion Energy from $66.00 to $62.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.27.

Dominion Energy News Roundup

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

• Positive Sentiment: Dominion declared a quarterly dividend of $0.6675 per share, equivalent to $2.67 annually and a yield of approximately 4.2%. The payment is scheduled for December 20 for shareholders of record on December 4, reinforcing the stock’s income appeal.
• Positive Sentiment: Dominion and PingThings launched a five-year alliance focused on grid data-management technology. The partnership could support more efficient operations and grid modernization, although its near-term financial impact is unclear. PingThings and Dominion Energy Launch Five-Year Alliance to Redefine the Grid Data Historian
• Positive Sentiment: Rising data-center demand is creating a potential source of electricity-load growth for Dominion, which could support future rate-base expansion and earnings. The company’s challenge is ensuring proposed projects proceed as planned. Data center demand surges; what will Dominion do if those projects fall through?
• Neutral Sentiment: Dominion presented a 20-year integrated resource plan featuring additional solar farms and natural-gas plants, but it also projects higher customer bills. The plan indicates significant investment opportunities while highlighting affordability and execution concerns. Dominion’s 20-year plan projects higher bills, new solar farms and natural gas plants
• Neutral Sentiment: A proposed roughly $67 billion NextEra-Dominion merger remains subject to regulatory scrutiny, with Virginia officials expressing concerns. Approval could provide strategic benefits, but delays or opposition increase uncertainty. NextEra CEO responds to governor’s concerns over $67B Dominion Energy merger
• Negative Sentiment: Dominion asked South Carolina regulators to let it recover Regional Greenhouse Gas Initiative costs from customers, potentially adding as much as $13 per month to bills. The request could face opposition and add political and regulatory risk. Dominion asks SCC to recoup RGGI costs from customers
• Negative Sentiment: Charleston delayed a proposed power-line agreement until residents receive more information about undergrounding. Potential construction costs, approval delays, and community opposition could affect project economics. Dominion to answer resident questions about undergrounding before Charleston finalizes new agreement
• Negative Sentiment: An outage in Portsmouth left more than 4,000 Dominion customers without power, creating a short-term reliability and customer-relations concern. Outage leaves over 4,000 Dominion customers without power in Portsmouth

Dominion Energy Company Profile

Dominion Energy, Inc is a regulated energy company headquartered in Richmond, Virginia. Through its utility operations, the company generates, transmits and distributes electricity and provides natural gas distribution services to residential, commercial, industrial and governmental customers, primarily in Virginia and South Carolina.

The company operates a diversified power-generation portfolio that includes nuclear, natural gas, renewable energy and other resources. Its activities also include electricity transmission infrastructure, renewable energy development and natural gas utility operations.