MAI Capital Management Grows Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Posted by on Aug 21st, 2023

MAI Capital Management lifted its position in Dominion Energy, Inc. (NYSE:D – Free Report) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,450 shares of the utilities provider’s stock after purchasing an additional 275 shares during the quarter. MAI Capital Management’s holdings in Dominion Energy were worth $920,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of D. Franklin Resources Inc. boosted its position in Dominion Energy by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 15,136,136 shares of the utilities provider’s stock valued at $928,148,000 after buying an additional 493,604 shares during the period. Geode Capital Management LLC grew its position in Dominion Energy by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 14,464,269 shares of the utilities provider’s stock worth $885,059,000 after acquiring an additional 260,312 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Dominion Energy by 93,554.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,865,509 shares of the utilities provider’s stock worth $604,953,000 after purchasing an additional 9,854,975 shares during the period. Northern Trust Corp lifted its position in Dominion Energy by 2.7% in the first quarter. Northern Trust Corp now owns 8,883,631 shares of the utilities provider’s stock valued at $754,843,000 after purchasing an additional 234,077 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Dominion Energy by 3.4% during the fourth quarter. Legal & General Group Plc now owns 8,583,891 shares of the utilities provider’s stock valued at $526,366,000 after purchasing an additional 282,999 shares during the period. 69.58% of the stock is currently owned by institutional investors.

Dominion Energy Trading Up 0.7 %

NYSE:D opened at $48.43 on Monday. Dominion Energy, Inc. has a one year low of $47.74 and a one year high of $86.28. The company’s 50-day simple moving average is $51.83 and its 200 day simple moving average is $54.29. The firm has a market capitalization of $40.52 billion, a P/E ratio of 17.94, a PEG ratio of 0.69 and a beta of 0.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.44.

Dominion Energy (NYSE:D – Get Free Report) last posted its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.05. Dominion Energy had a return on equity of 11.94% and a net margin of 12.71%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Dominion Energy, Inc. will post 3.52 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.6675 per share. The ex-dividend date is Thursday, August 31st. This represents a $2.67 dividend on an annualized basis and a yield of 5.51%. Dominion Energy’s dividend payout ratio is currently 98.89%.

Insiders Place Their Bets

In related news, COO Diane Leopold sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $49.16, for a total value of $307,250.00. Following the transaction, the chief operating officer now directly owns 100,115 shares of the company’s stock, valued at approximately $4,921,653.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Guggenheim lowered their price target on shares of Dominion Energy from $63.00 to $60.00 in a report on Friday, July 7th. StockNews.com initiated coverage on shares of Dominion Energy in a report on Thursday. They set a “hold” rating for the company. Bank of America cut their target price on Dominion Energy from $54.00 to $52.00 in a research note on Tuesday, May 16th. BMO Capital Markets dropped their price objective on Dominion Energy from $61.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, August 7th. Finally, Wells Fargo & Company reduced their target price on Dominion Energy from $61.00 to $55.00 in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $57.50.

View Our Latest Stock Analysis on Dominion Energy

Dominion Energy Profile

(Free Report)

Dominion Energy, Inc produces and distributes energy in the United States. It operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.

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

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