Hall Private Wealth Advisors, a prominent investment firm, has announced a reduction in its holdings of Dominion Energy, Inc. during the second quarter of the fiscal year 2023. According to regulatory filings with the Securities and Exchange Commission, Hall Private Wealth Advisors decreased its ownership stake in Dominion Energy by 5.2% during this period. The firm sold 2,319 shares, bringing down its total number of shares to 42,579.
As a utilities provider, Dominion Energy holds an important position in many investment portfolios. For Hall Private Wealth Advisors, it constitutes approximately 1.2% of their overall portfolio, ranking it as their 22nd largest holding. It is worth noting that this reduction in shares does not indicate a complete divestment but rather a strategic adjustment within their investment portfolio.
At the time of filing with the SEC, Hall Private Wealth Advisors’ holdings in Dominion Energy were valued at $2,205,000. This figure demonstrates the considerable value that the investment firm places on Dominion Energy’s stock.
In other news regarding Dominion Energy, the organization recently declared its quarterly dividend payout. Shareholders who were recorded as owners on September 1st received a dividend payment of $0.6675 per share on September 20th. These dividends add up to an annualized amount of $2.67 per share and offer investors a yield of 5.59%. It is important for shareholders to be aware that the ex-dividend date for this particular payout was August 31st.
Dominion Energy’s dividend payout ratio currently stands at an impressive 98.89%. This indicates that a significant portion of the company’s earnings are allocated towards rewarding its shareholders through dividend payments.
Investors and industry analysts will undoubtedly be monitoring these developments closely as they seek insights into Dominion Energy’s financial standing and growth trajectory moving forward.
As always with investment decisions and opportunities, it is crucial for individual investors to conduct thorough research and due diligence. Staying informed about the latest developments, such as those mentioned above, can aid in making informed investment choices.
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Dominion Energy: Institutional Investors and Analysts’ Perspectives
In recent times, several hedge funds and institutional investors have made significant changes to their stakes in Dominion Energy, an established utilities provider. My Legacy Advisors LLC, for example, increased its stake in the company by 6.4% during the second quarter and now holds 14,810 shares valued at $786,000. Similarly, Cordatus Wealth Management LLC acquired a new position in Dominion Energy worth approximately $398,000. These moves reflect the ongoing interest of these major players in the utilities sector.
Another investor that has shown confidence in Dominion Energy is Cullinan Associates Inc., whose position in the company grew by an impressive 183.1% over the course of the second quarter. As a result, they now own 22,078 shares valued at $1,143,000. Bartlett & Co. LLC also saw their stake increase by 20.4%, with ownership of 7,849 shares worth $406,000. Meanwhile, Asset Management Resources LLC entered into a new position with Dominion Energy at around $393,000. Overall, institutional investors and hedge funds now own approximately 70.66% of Dominion Energy’s stock.
Several brokerages have weighed in on Dominion Energy as well. The Goldman Sachs Group recently initiated coverage on the company and gave it a “neutral” rating based on their research report from June 7th. Morgan Stanley adjusted their target price for Dominion Energy from $55.00 to $50.00 but maintained an “equal weight” rating for the stock in their report released on August 23rd.
Guggenheim also reduced their target price from $63.00 to $60.00 and Barclays initiated coverage with an “equal weight” rating and a target price of $52.00 for Dominion Energy’s shares as per reports released on July 7th and August 23rd respectively . Additional coverage was provided by StockNews.com which issued a “hold” rating for the company in their report on August 17th. Currently, consensus ratings from Bloomberg.com suggest that Dominion Energy has a “Hold” rating and an average price target of $55.15.
Turning our attention to the market performance of Dominion Energy, as of Friday, September 24, shares of NYSE:D were valued at $47.75. The company’s stock has been showing a 50-day moving average of $49.51 and a 200-day moving average of $52.57. With a market capitalization of $39.96 billion, Dominion Energy operates with a price-to-earnings ratio of 17.69 and possesses a beta value of 0.46. Its current ratio stands at 0.57, while its quick ratio is measured at 0.44, indicative of the company’s liquidity position. Furthermore, Dominion Energy maintains a debt-to-equity ratio of 1.47.
Regarding its financial performance, Dominion Energy reported its earnings results on Friday, August 4th. The utilities provider exceeded expectations by reporting earnings per share (EPS) of $0.53 for the quarter, beating estimates by $0.05%. Additionally, the company generated revenues amounting to $3.79 billion during the same period, surpassing analysts’ projected figure of $3.72 billion.
Dominion Energy’s solid financial results can be attributed to several factors such as increased demand for utility services and effective cost management strategies implemented by the company’s management team led by CEO Thomas Farcyke Jr., who has successfully steered Dominion Energy through various economic challenges over the years.
Looking ahead, equities research analysts predict that Dominion Energy will post EPS figures of around 3.2 for the current fiscal year based on their evaluation and analysis.
Investors and industry analysts will continue to closely monitor developments within Dominion Energy as well as any updates from institutional investors and hedge funds. The utilities provider remains a significant player in the market, and its performance will undoubtedly have an impact on the wider industry.
