CoreCap Advisors LLC Acquires New Position in Dominion Energy, Inc. (NYSE:D)

Posted by Defense World Staff on Jun 1st, 2023

CoreCap Advisors LLC bought a new position in Dominion Energy, Inc. (NYSE:D – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 916 shares of the utilities provider’s stock, valued at approximately $56,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV grew its position in Dominion Energy by 1.2% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,630 shares of the utilities provider’s stock worth $903,000 after purchasing an additional 128 shares during the last quarter. Golden State Equity Partners lifted its stake in shares of Dominion Energy by 1.7% in the 1st quarter. Golden State Equity Partners now owns 7,635 shares of the utilities provider’s stock worth $649,000 after acquiring an additional 129 shares during the period. Covestor Ltd lifted its stake in shares of Dominion Energy by 49.8% in the 1st quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 131 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Dominion Energy by 0.3% in the 1st quarter. NewEdge Advisors LLC now owns 40,479 shares of the utilities provider’s stock worth $3,440,000 after acquiring an additional 132 shares during the period. Finally, Ergoteles LLC lifted its stake in shares of Dominion Energy by 3.2% in the 1st quarter. Ergoteles LLC now owns 4,719 shares of the utilities provider’s stock worth $401,000 after acquiring an additional 146 shares during the period. Institutional investors own 70.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on D shares. BMO Capital Markets reduced their price target 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. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. UBS Group cut their target price on shares of Dominion Energy from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Tuesday, March 7th. Mizuho cut their target price on shares of Dominion Energy from $62.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, February 27th. Finally, Morgan Stanley increased their target price on shares of Dominion Energy from $58.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.55.

Dominion Energy Price Performance

NYSE D opened at $50.28 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.62 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $55.29 and a 200 day simple moving average of $57.97. The company has a market cap of $42.03 billion, a P/E ratio of 35.16, a P/E/G ratio of 0.66 and a beta of 0.43. Dominion Energy, Inc. has a 1 year low of $49.39 and a 1 year high of $86.28.

Dominion Energy (NYSE:D – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $4.46 billion. Dominion Energy had a net margin of 7.05% and a return on equity of 12.67%. Dominion Energy’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 EPS. On average, sell-side analysts predict that Dominion Energy, Inc. will post 3.77 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 2nd will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date is Thursday, June 1st. Dominion Energy’s dividend payout ratio (DPR) is presently 186.71%.

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.