Dominion Energy Inc. $D Position Cut by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in shares of Dominion Energy Inc. (NYSE:D) by 16.3% during the third quarter, HoldingsChannel.com reports. The firm owned 62,734 shares of the utilities provider’s stock after selling 12,187 shares during the period. Oppenheimer & Co. Inc.’s holdings in Dominion Energy were worth $3,797,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Dominion Energy in the second quarter valued at about $4,986,439,000. State Street Corp grew its position in Dominion Energy by 3.5% during the second quarter. State Street Corp now owns 50,917,469 shares of the utilities provider’s stock worth $3,477,154,000 after buying an additional 1,704,954 shares during the period. Bank of America Corp DE grew its position in Dominion Energy by 15.7% during the first quarter. Bank of America Corp DE now owns 15,930,241 shares of the utilities provider’s stock worth $984,808,000 after buying an additional 2,164,951 shares during the period. Bank of New York Mellon Corp purchased a new position in Dominion Energy in the second quarter valued at about $697,388,000. Finally, London Co. of Virginia increased its holdings in Dominion Energy by 45.3% in the first quarter. London Co. of Virginia now owns 6,943,525 shares of the utilities provider’s stock valued at $429,250,000 after buying an additional 2,165,195 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank reduced their price objective on Dominion Energy from $67.00 to $63.00 and set a “sector perform” rating for the company in a report on Wednesday, September 30th. Morgan Stanley decreased their target price on Dominion Energy from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Friday, September 18th. UBS Group set a $80.00 target price on Dominion Energy in a report on Wednesday, August 19th. Jefferies Financial Group dropped their price target on Dominion Energy from $79.00 to $71.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Finally, BMO Capital Markets lifted their price target on Dominion Energy from $64.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.27.

Dominion Energy Trading Up 1.2%

Shares of D opened at $65.04 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $57.21 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 2.98 and a beta of 0.64. The stock’s fifty day simple moving average is $63.79 and its 200 day simple moving average is $64.73. Dominion Energy Inc. has a twelve month low of $55.85 and a twelve month high of $72.99.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.11. Dominion Energy had a net margin of 13.98% and a return on equity of 9.62%. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. Dominion Energy’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts forecast that Dominion Energy Inc. will post 3.59 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 20th. Shareholders of record on Friday, December 4th will be given a $0.6675 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $2.67 annualized dividend and a yield of 4.1%. Dominion Energy’s dividend payout ratio (DPR) is 93.03%.

More Dominion Energy News

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: Dominion declared a quarterly dividend of $0.6675 per share, equivalent to $2.67 annually and a yield of approximately 4.2%. The payment is scheduled for December 20 for shareholders of record on December 4, reinforcing the stock’s income appeal.
• Positive Sentiment: Dominion and PingThings launched a five-year alliance focused on grid data-management technology. The partnership could support more efficient operations and grid modernization, although its near-term financial impact is unclear. PingThings and Dominion Energy Launch Five-Year Alliance to Redefine the Grid Data Historian
• Positive Sentiment: Rising data-center demand is creating a potential source of electricity-load growth for Dominion, which could support future rate-base expansion and earnings. The company’s challenge is ensuring proposed projects proceed as planned. Data center demand surges; what will Dominion do if those projects fall through?
• Neutral Sentiment: Dominion presented a 20-year integrated resource plan featuring additional solar farms and natural-gas plants, but it also projects higher customer bills. The plan indicates significant investment opportunities while highlighting affordability and execution concerns. Dominion’s 20-year plan projects higher bills, new solar farms and natural gas plants
• Neutral Sentiment: A proposed roughly $67 billion NextEra-Dominion merger remains subject to regulatory scrutiny, with Virginia officials expressing concerns. Approval could provide strategic benefits, but delays or opposition increase uncertainty. NextEra CEO responds to governor’s concerns over $67B Dominion Energy merger
• Negative Sentiment: Dominion asked South Carolina regulators to let it recover Regional Greenhouse Gas Initiative costs from customers, potentially adding as much as $13 per month to bills. The request could face opposition and add political and regulatory risk. Dominion asks SCC to recoup RGGI costs from customers
• Negative Sentiment: Charleston delayed a proposed power-line agreement until residents receive more information about undergrounding. Potential construction costs, approval delays, and community opposition could affect project economics. Dominion to answer resident questions about undergrounding before Charleston finalizes new agreement
• Negative Sentiment: An outage in Portsmouth left more than 4,000 Dominion customers without power, creating a short-term reliability and customer-relations concern. Outage leaves over 4,000 Dominion customers without power in Portsmouth

Dominion Energy Company Profile

Dominion Energy, Inc is a regulated energy company headquartered in Richmond, Virginia. Through its utility operations, the company generates, transmits and distributes electricity and provides natural gas distribution services to residential, commercial, industrial and governmental customers, primarily in Virginia and South Carolina.

The company operates a diversified power-generation portfolio that includes nuclear, natural gas, renewable energy and other resources. Its activities also include electricity transmission infrastructure, renewable energy development and natural gas utility operations.