Pinnacle Associates Ltd. Sells 200 Shares of Dominion Energy, Inc. (NYSE:D)

Posted by on Apr 6th, 2023

Pinnacle Associates Ltd. reduced its position in Dominion Energy, Inc. (NYSE:D – Get Rating) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,928 shares of the utilities provider’s stock after selling 200 shares during the period. Pinnacle Associates Ltd.’s holdings in Dominion Energy were worth $2,088,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Dominion Energy by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 73,953,046 shares of the utilities provider’s stock worth $5,110,895,000 after buying an additional 2,767,626 shares in the last quarter. BlackRock Inc. grew its position in Dominion Energy by 5.5% in the third quarter. BlackRock Inc. now owns 58,954,665 shares of the utilities provider’s stock worth $4,074,356,000 after acquiring an additional 3,051,912 shares in the last quarter. State Street Corp increased its stake in 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 acquiring an additional 1,853,875 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Dominion Energy by 9.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 30,771,075 shares of the utilities provider’s stock valued at $2,126,590,000 after purchasing an additional 2,763,501 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of 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 purchasing an additional 8,596,097 shares during the last quarter. Hedge funds and other institutional investors own 70.30% of the company’s stock.

Dominion Energy Price Performance

Shares of D opened at $57.41 on Thursday. The company has a 50 day moving average of $57.17 and a two-hundred day moving average of $61.68. The company has a market cap of $47.95 billion, a price-to-earnings ratio of 52.67, a price-to-earnings-growth ratio of 0.95 and a beta of 0.43. 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, Inc. has a twelve month low of $52.03 and a twelve month high of $88.78.

Dominion Energy (NYSE:D – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The utilities provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. Dominion Energy had a return on equity of 13.35% and a net margin of 5.79%. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the business posted $0.90 earnings per share. The firm’s revenue was up 26.6% compared to the same quarter last year. As a group, analysts predict that Dominion Energy, Inc. will post 3.93 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Friday, March 3rd were paid a dividend of $0.6675 per share. The ex-dividend date was Thursday, March 2nd. This represents a $2.67 annualized dividend and a yield of 4.65%. Dominion Energy’s payout ratio is presently 244.95%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com began coverage on shares of Dominion Energy in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Credit Suisse Group decreased their price objective on shares of Dominion Energy from $67.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, February 14th. BMO Capital Markets cut their target price on Dominion Energy from $66.00 to $61.00 and set an “outperform” rating on the stock in a research note on Monday, February 27th. Guggenheim reduced their price target on Dominion Energy from $69.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Finally, Wells Fargo & Company boosted 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.08.

About Dominion Energy

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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.

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Institutional Ownership by Quarter for Dominion Energy (NYSE:D)

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