Exchange Traded Concepts LLC Cuts Position in Dominion Energy, Inc. (NYSE:D)

Posted by on Oct 7th, 2023

Exchange Traded Concepts LLC decreased its holdings in Dominion Energy, Inc. (NYSE:D – Free Report) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,301 shares of the utilities provider’s stock after selling 310 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Dominion Energy were worth $533,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. PFG Advisors increased its holdings in Dominion Energy by 77.8% in the second quarter. PFG Advisors now owns 14,926 shares of the utilities provider’s stock valued at $773,000 after buying an additional 6,529 shares in the last quarter. Csenge Advisory Group increased its position in shares of Dominion Energy by 3.6% in the second quarter. Csenge Advisory Group now owns 12,738 shares of the utilities provider’s stock valued at $660,000 after buying an additional 447 shares in the last quarter. Advisors Management Group Inc. ADV increased its position in shares of Dominion Energy by 0.4% in the second quarter. Advisors Management Group Inc. ADV now owns 52,620 shares of the utilities provider’s stock valued at $2,725,000 after buying an additional 230 shares in the last quarter. Ballast Inc. purchased a new position in shares of Dominion Energy in the second quarter valued at $219,000. Finally, Daymark Wealth Partners LLC increased its position in shares of Dominion Energy by 71.9% in the second quarter. Daymark Wealth Partners LLC now owns 10,338 shares of the utilities provider’s stock valued at $535,000 after buying an additional 4,323 shares in the last quarter. Hedge funds and other institutional investors own 70.66% of the company’s stock.

Dominion Energy Price Performance

D stock opened at $41.70 on Friday. The stock has a 50-day moving average price of $47.65 and a two-hundred day moving average price of $51.80. Dominion Energy, Inc. has a 12-month low of $39.24 and a 12-month high of $70.80. The company has a current ratio of 0.57, a quick ratio of 0.44 and a debt-to-equity ratio of 1.47. The company has a market cap of $34.89 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 3.28 and a beta of 0.48.

Dominion Energy (NYSE:D – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.05. Dominion Energy had a net margin of 12.71% and a return on equity of 11.94%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Dominion Energy’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts predict that Dominion Energy, Inc. will post 3.2 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Friday, September 1st were paid a dividend of $0.6675 per share. The ex-dividend date was Thursday, August 31st. This represents a $2.67 annualized dividend and a yield of 6.40%. Dominion Energy’s dividend payout ratio is currently 98.89%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on D shares. Scotiabank dropped their price target on Dominion Energy from $68.00 to $60.00 and set a “sector outperform” rating for the company in a research report on Monday, September 11th. BMO Capital Markets dropped their price objective on shares of Dominion Energy from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, September 6th. 51job reissued a “maintains” rating on shares of Dominion Energy in a research note on Friday, June 9th. Mizuho dropped their price objective on Dominion Energy from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 6th. Finally, Morgan Stanley dropped their price objective on Dominion Energy from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.15.

View Our Latest Stock Report 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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