Dominion Energy Inc. $D Stake Trimmed by Salomon & Ludwin LLC

Salomon & Ludwin LLC reduced its holdings in Dominion Energy Inc. (NYSE:D) by 14.8% during the third quarter, Holdings Channel.com reports. 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 have also recently made changes to their positions in D. BlackRock Inc. purchased a new stake in Dominion Energy in the second quarter worth $4,986,439,000. Bank of America Corp DE purchased a new stake in shares of Dominion Energy in the 2nd quarter worth about $996,984,000. Bank of New York Mellon Corp purchased a new stake in shares of Dominion Energy in the 2nd quarter worth about $697,388,000. Legal & General Group Plc bought a new stake in shares of Dominion Energy during the 2nd quarter valued at about $467,353,000. Finally, Pentwater Capital Management LP bought a new stake in shares of Dominion Energy during the 2nd quarter valued at about $239,015,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial decreased their target price on Dominion Energy from $66.00 to $62.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Weiss Ratings lowered Dominion Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Mizuho set a $68.00 target price on shares of Dominion Energy in a report on Monday. Jefferies Financial Group reduced their target price on shares of Dominion Energy from $79.00 to $71.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Finally, BMO Capital Markets increased their price target on shares of 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 research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.33.

Dominion Energy Stock Performance

Shares of NYSE D opened at $66.69 on Monday. The firm has a 50 day moving average of $63.77 and a 200 day moving average of $64.77. 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 $58.66 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 3.09 and a beta of 0.64. Dominion Energy Inc. has a 12-month low of $55.85 and a 12-month high of $72.99.

Dominion Energy (NYSE:D) last announced its 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. Dominion Energy had a net margin of 13.99% and a return on equity of 10.15%. The business had revenue of $5.62 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company earned $1.06 earnings per share. The firm’s revenue was up 24.1% on a year-over-year basis. On average, research analysts anticipate 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. Stockholders of record on Friday, December 4th will be paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, December 4th. Dominion Energy’s dividend payout ratio is 88.70%.

Dominion Energy 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.