On September 10, 2023, it was reported that Manhattan West Asset Management LLC had increased its position in shares of Dominion Energy, Inc. (NYSE:D) by 40.1% during the first quarter. This information was derived from the company’s most recent Form 13F filing with the Securities & Exchange Commission. The firm now owns 27,120 shares of Dominion Energy’s stock, having acquired an additional 7,769 shares during the period. At the end of the first quarter, Manhattan West Asset Management LLC’s holdings in Dominion Energy were valued at $1,516,000.
In addition to this development, Dominion Energy also recently announced a quarterly dividend. Shareholders of record on Friday, September 1st will receive a dividend payment of $0.6675 per share on Wednesday, September 20th. This translates into an annualized dividend of $2.67 and a yield of 5.67%. It is important to note that the ex-dividend date is Thursday, August 31st.
Dominion Energy’s dividend payout ratio currently stands at 98.89%. This ratio is calculated by dividing the total dividends paid out by a company by its net income for a specific period. The high payout ratio indicates that a significant portion of Dominion Energy’s earnings are returned to shareholders in the form of dividends.
The increased position taken by Manhattan West Asset Management LLC suggests their confidence in Dominion Energy as an investment opportunity during the first quarter of this year. The addition of almost eight thousand shares demonstrates their belief in the potential growth and profitability of Dominion Energy.
Dominion Energy operates as a utilities provider and serves millions of customers across multiple states in the United States. They strive to provide reliable and sustainable energy solutions while maintaining environmental responsibility.
As with any investment decision, it is advisable for investors to conduct thorough research and analysis before making any decisions relating to buying or selling stocks. While Manhattan West Asset Management LLC’s increased position and the upcoming dividend payment highlight positive aspects of Dominion Energy, investors should carefully consider their own financial goals and risk tolerance.
It is always recommended to consult with a financial advisor or professional to ascertain the suitability of any investment decisions based on individual circumstances. Additionally, staying updated with the latest news and developments within the energy sector and Dominion Energy specifically can help investors make informed choices that align with their investment objectives.
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Hedge Funds Show Interest in Dominion Energy’s Investment Activity, Analyst Opinions Mixed
Investment activity in Dominion Energy has caught the attention of various hedge funds, as disclosed in recent reports. Notably, Tucker Asset Management LLC acquired a new position in shares of the company during the first quarter, with an estimated value of $25,000. This was followed by AXS Investments LLC, who also acquired a new position in Dominion Energy during the fourth quarter, estimating the value at $30,000. Core Alternative Capital further boosted its ownership by 63.0% during the first quarter by adding 206 additional shares to their portfolio.
Another notable investor was Carderock Capital Management Inc., which took a fresh stake in Dominion Energy during the first quarter valued at $34,000. Finally, Covestor Ltd increased its position by 49.8% during the same period and now holds 394 shares worth approximately $34,000. These moves indicate growing interest among institutional investors and hedge funds as they seek potential avenues for returns.
The sentiments expressed by equities research analysts on Dominion Energy have been mixed. While 51job has maintained its rating on the stock, others have lowered their price objectives for the company. Guggenheim reduced their price objective from $63.00 to $60.00 and Bank of America decreased theirs to $52.00 from $54.00 respectively.
Similarly, Morgan Stanley revised their price objective downwards to $50.00 from $55.00 and categorized it as an “equal weight” rating for Dominion Energy’s stock in one of its recent research reports. Mizuho also decreased its price objective from $58.00 to $46.00 and assigned a “neutral” rating to the company.
Currently, Bloomberg.com indicates that Dominion Energy holds an average consensus rating of “Hold” with analysts projecting an average price target of approximately $54.91.
On Friday, shares of Dominion Energy (NYSE: D) traded marginally higher at around $47.12, with a trading volume of 6,541,103 shares. This follows a turbulent period where the company witnessed a significant decline in share prices due to market uncertainties.
Dominion Energy’s 50-day simple moving average is currently at $50.42, while its two-hundred-day simple moving average stands at $53.12. The company’s debt-to-equity ratio is 1.47, indicating moderate leverage, with a current ratio of 0.57 and quick ratio of 0.44.
Over the past year, Dominion Energy has experienced fluctuations in its stock price, reaching a low of $45.76 and a high of $84.45. As of now, the company has a market capitalization of $39.43 billion and trades at a price-earnings ratio of 17.45.
In August, Dominion Energy reported its quarterly earnings results, revealing an EPS (earnings per share) of $0.53 for the quarter – surpassing analysts’ consensus estimates by $0.05 per share. The company generated revenue amounting to $3.79 billion for the quarter compared to expectations of $3.72 billion.
Dominion Energy’s return on equity was calculated at 11.94%, showcasing healthy profitability coupled with a net margin of 12.71%. Additionally, the company reported a growth rate of 5.5% in revenue for the quarter on a year-over-year basis.
Comparing these figures to the same period last year when those in charge posted EPS of $0.77 per share; Dominion Energy’s performance has come under scrutiny from industry experts.
Sell-side analysts predict that Dominion Energy will post earnings per share amounting to approximately $3.45 for this fiscal year.
While some hedge funds continue to show interest in Dominion Energy through their new positions or expanded stakes, it remains to be seen how the market dynamics and analysts’ ratings will shape the future of the company. With various opinions and price targets, investors may take a cautious approach in discerning the true value and potential of Dominion Energy.
