Dominion Energy Inc. $D Stock: Salomon & Ludwin LLC Reduces Holdings

Salomon & Ludwin LLC cut its stake in shares of Dominion Energy Inc. (NYSE:D) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,707 shares of the utilities provider’s stock after selling 10,026 shares during the quarter. Salomon & Ludwin LLC’s holdings in Dominion Energy were worth $3,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of D. Heritage Investors Management Corp bought a new stake in Dominion Energy in the third quarter worth about $759,000. Verus Financial Partners Inc. increased its stake in shares of Dominion Energy by 3.2% during the 3rd quarter. Verus Financial Partners Inc. now owns 29,241 shares of the utilities provider’s stock worth $1,770,000 after purchasing an additional 905 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Dominion Energy in the 3rd quarter worth approximately $14,500,000. Vise Technologies Inc. raised its holdings in shares of Dominion Energy by 8.9% in the 3rd quarter. Vise Technologies Inc. now owns 48,343 shares of the utilities provider’s stock worth $2,926,000 after purchasing an additional 3,958 shares during the period. Finally, Investment Partners LTD. bought a new stake in shares of Dominion Energy in the 3rd quarter worth approximately $279,000. 73.04% of the stock is owned by institutional investors.

Dominion Energy Stock Performance

Shares of NYSE D opened at $66.69 on Monday. The stock’s 50-day moving average is $63.77 and its 200 day moving average is $64.77. The stock has a market cap of $58.66 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 3.09 and a beta of 0.64. Dominion Energy Inc. has a 1-year low of $55.85 and a 1-year high of $72.99. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.43.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, October 30th. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The business had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Dominion Energy had a net margin of 13.99% and a return on equity of 10.15%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. On average, sell-side analysts anticipate that Dominion Energy Inc. will post 3.59 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 20th. Stockholders of record on Friday, December 4th will be issued a $0.6675 dividend. The ex-dividend date is Friday, December 4th. This represents a $2.67 annualized dividend and a dividend yield of 4.0%. Dominion Energy’s dividend payout ratio (DPR) is currently 88.70%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Dominion Energy from $79.00 to $71.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Barclays cut their price target on Dominion Energy from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Truist Financial decreased their price objective on Dominion Energy from $66.00 to $62.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. Wells Fargo & Company raised Dominion Energy to a “strong-buy” rating in a report on Thursday, September 24th. Finally, Morgan Stanley cut their target price on Dominion Energy from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.33.

About Dominion Energy

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.