Inspire Advisors LLC Acquires Shares of 10,788 Dominion Energy Inc. (NYSE:D)

Key Points

• Inspire Advisors LLC acquired 10,788 shares of Dominion Energy valued at approximately $605,000 during the first quarter, indicating growing institutional interest in the utility sector.
• Analysts have mixed ratings for Dominion Energy, with a consensus target price of $58.88 and recent adjustments from JPMorgan and Morgan Stanley reflecting cautious sentiment.
• Dominion Energy reported a strong quarterly earnings beat, with an EPS of $0.93 compared to estimates of $0.82, alongside a quarterly revenue of $4.08 billion.

Inspire Advisors LLC bought a new stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,788 shares of the utilities provider's stock, valued at approximately $605,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Dominion Energy by 450.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock worth $25,000 after acquiring an additional 378 shares in the last quarter. Orion Capital Management LLC acquired a new position in Dominion Energy during the fourth quarter worth approximately $27,000. VSM Wealth Advisory LLC acquired a new position in Dominion Energy during the first quarter worth approximately $28,000. Park Square Financial Group LLC acquired a new position in Dominion Energy during the fourth quarter worth approximately $27,000. Finally, Navigoe LLC acquired a new position in Dominion Energy during the fourth quarter worth approximately $29,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of D stock traded down $0.17 during mid-day trading on Thursday, hitting $58.08. 3,825,243 shares of the stock traded hands, compared to its average volume of 5,298,009. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $61.97. The firm has a market cap of $49.53 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.56. The company's 50-day simple moving average is $56.56 and its 200-day simple moving average is $55.29. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.73.

Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $3.95 billion. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The company's revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. As a group, equities research analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.60%. Dominion Energy's payout ratio is presently 100.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on D. Morgan Stanley decreased their price target on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price target on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Dominion Energy currently has an average rating of "Hold" and an average target price of $58.88.

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.