Dominion Energy, Inc. (NYSE:D) Shares Bought by Merit Financial Group LLC

Posted by Defense World Staff on Mar 25th, 2023

Merit Financial Group LLC raised its holdings in Dominion Energy, Inc. (NYSE:D – Get Rating) by 104.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,058 shares of the utilities provider’s stock after purchasing an additional 4,622 shares during the period. Merit Financial Group LLC’s holdings in Dominion Energy were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in D. Canada Pension Plan Investment Board lifted its stake in Dominion Energy by 486.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,364,622 shares of the utilities provider’s stock valued at $716,299,000 after buying an additional 8,596,097 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Dominion Energy by 28.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 28,007,574 shares of the utilities provider’s stock valued at $2,235,284,000 after acquiring an additional 6,156,960 shares during the last quarter. BlackRock Inc. lifted its position in shares of Dominion Energy by 5.5% in the third quarter. BlackRock Inc. now owns 58,954,665 shares of the utilities provider’s stock valued at $4,074,356,000 after acquiring an additional 3,051,912 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Dominion Energy by 3.9% in the third quarter. Vanguard Group Inc. now owns 73,953,046 shares of the utilities provider’s stock worth $5,110,895,000 after acquiring an additional 2,767,626 shares during the last quarter. Finally, State Street Corp increased its position in shares of Dominion Energy by 3.9% during the third quarter. State Street Corp now owns 49,478,314 shares of the utilities provider’s stock worth $3,419,446,000 after purchasing an additional 1,853,875 shares in the last quarter. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

NYSE:D opened at $53.83 on Friday. Dominion Energy, Inc. has a 52 week low of $52.03 and a 52 week high of $88.78. The stock’s fifty day moving average is $58.25 and its two-hundred day moving average is $63.31. The company has a market capitalization of $44.96 billion, a P/E ratio of 49.39, a P/E/G ratio of 0.90 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 1.49.

Dominion Energy (NYSE:D – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a net margin of 5.79% and a return on equity of 13.35%. Dominion Energy’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Equities analysts expect that Dominion Energy, Inc. will post 3.96 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Friday, March 3rd were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Thursday, March 2nd. Dominion Energy’s payout ratio is 244.95%.

Analysts Set New Price Targets

D has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Dominion Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Credit Suisse Group lowered their price target on shares of Dominion Energy from $67.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 14th. BMO Capital Markets dropped their price objective on shares of Dominion Energy from $66.00 to $61.00 and set an “outperform” rating for the company in a research note on Monday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Dominion Energy from $76.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 11th. Finally, StockNews.com initiated coverage on Dominion Energy in a research report on Thursday, March 16th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.08.

Dominion Energy Profile

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Dominion Energy, Inc engages in the production and distribution of energy. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets, and Corporate and Other. The Corporate and Other segment focuses on corporate, service company, non-controlling interest in Dominion privatization, and non-regulated retail energy marketing operations.