Merit Financial Group LLC Acquires 9,049 Shares of Dominion Energy Inc. $D

Merit Financial Group LLC boosted its stake in shares of Dominion Energy Inc. (NYSE:D) by 45.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,018 shares of the utilities provider’s stock after acquiring an additional 9,049 shares during the quarter. Merit Financial Group LLC’s holdings in Dominion Energy were worth $1,775,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Dominion Energy by 16.2% in the second quarter. Vanguard Group Inc. now owns 105,795,310 shares of the utilities provider’s stock valued at $5,979,551,000 after purchasing an additional 14,715,895 shares in the last quarter. State Street Corp increased its stake in shares of Dominion Energy by 2.9% in the 2nd quarter. State Street Corp now owns 46,341,408 shares of the utilities provider’s stock valued at $2,619,216,000 after buying an additional 1,313,621 shares during the period. Geode Capital Management LLC raised its position in shares of Dominion Energy by 3.0% during the second quarter. Geode Capital Management LLC now owns 19,725,397 shares of the utilities provider’s stock worth $1,112,697,000 after acquiring an additional 575,350 shares during the last quarter. Norges Bank acquired a new position in shares of Dominion Energy during the second quarter valued at $566,924,000. Finally, Legal & General Group Plc raised its holdings in Dominion Energy by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 7,669,476 shares of the utilities provider’s stock worth $433,479,000 after purchasing an additional 394,158 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on D. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of Dominion Energy in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Dominion Energy in a research report on Monday, December 29th. Barclays lifted their price objective on Dominion Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Wells Fargo & Company assumed coverage on Dominion Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Dominion Energy from $62.00 to $59.00 and set an “underweight” rating for the company in a research report on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $64.75.

Dominion Energy Stock Up 1.1%

NYSE:D opened at $59.22 on Monday. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.87. The stock has a 50-day moving average price of $59.91 and a two-hundred day moving average price of $59.58. The stock has a market cap of $50.58 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.60 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.65 and a debt-to-equity ratio of 1.41.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, October 31st. The utilities provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. Dominion Energy had a return on equity of 9.60% and a net margin of 16.17%.The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the previous year, the business posted $0.98 EPS. Dominion Energy’s revenue for the quarter was up 14.9% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. As a group, equities analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 20th. Stockholders of record on Friday, December 5th were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.67 annualized dividend and a dividend yield of 4.5%. Dominion Energy’s dividend payout ratio is currently 90.82%.

About Dominion Energy

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.