Kovack Advisors Inc. Lowers Stake in Dominion Energy Inc. $D

Kovack Advisors Inc. cut its position in Dominion Energy Inc. (NYSE:D) by 23.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,510 shares of the utilities provider’s stock after selling 2,286 shares during the period. Kovack Advisors Inc.’s holdings in Dominion Energy were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patton Fund Management Inc. bought a new stake in shares of Dominion Energy during the second quarter valued at approximately $235,000. Central Pacific Bank Trust Division boosted its position in shares of Dominion Energy by 28.3% during the second quarter. Central Pacific Bank Trust Division now owns 56,491 shares of the utilities provider’s stock worth $3,193,000 after acquiring an additional 12,453 shares during the last quarter. Nordea Investment Management AB grew its stake in Dominion Energy by 4.5% during the second quarter. Nordea Investment Management AB now owns 74,673 shares of the utilities provider’s stock valued at $4,185,000 after acquiring an additional 3,244 shares in the last quarter. AlphaQuest LLC bought a new stake in Dominion Energy in the 1st quarter valued at $27,000. Finally, Belpointe Asset Management LLC lifted its stake in Dominion Energy by 63.2% in the 1st quarter. Belpointe Asset Management LLC now owns 15,705 shares of the utilities provider’s stock worth $881,000 after purchasing an additional 6,079 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Stock Down 1.3%

Shares of NYSE:D opened at $58.73 on Friday. The firm has a market capitalization of $50.12 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 2.13 and a beta of 0.62. The business has a 50 day simple moving average of $60.22 and a two-hundred day simple moving average of $57.99. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.71 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.Dominion Energy’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. On average, equities analysts predict that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 20th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, December 5th. Dominion Energy’s payout ratio is currently 92.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on D. Evercore ISI began coverage on Dominion Energy in a research report on Tuesday, October 7th. They set an “in-line” rating and a $67.00 price objective for the company. Wells Fargo & Company assumed coverage on Dominion Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $67.00 price target for the company. Morgan Stanley upped their price objective on Dominion Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dominion Energy in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and an average target price of $63.78.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue purchased 4,152 shares of Dominion Energy stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average price of $60.35 per share, with a total value of $250,573.20. Following the purchase, the chief executive officer directly owned 161,237 shares of the company’s stock, valued at approximately $9,730,652.95. This represents a 2.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

About Dominion Energy

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.