LPL Financial LLC Has $53.24 Million Stock Position in Dominion Energy Inc. (NYSE:D)

Key Points

• LPL Financial LLC increased its stake in Dominion Energy by 20%, owning approximately $53.24 million worth of shares after purchasing an additional 158,233 shares in the first quarter.
• Dominion Energy reported a quarterly EPS of $0.93, exceeding expectations, with a 12.2% year-over-year revenue increase to $4.08 billion.
• The company declared a quarterly dividend of $0.6675 per share, translating to a 4.6% dividend yield, with a payout ratio of 100%.

LPL Financial LLC lifted its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 949,525 shares of the utilities provider's stock after buying an additional 158,233 shares during the period. LPL Financial LLC owned about 0.11% of Dominion Energy worth $53,240,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of D. Cadence Bank lifted its stake in Dominion Energy by 2.0% in the 4th quarter. Cadence Bank now owns 9,561 shares of the utilities provider's stock valued at $515,000 after purchasing an additional 189 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Dominion Energy by 3.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock valued at $338,000 after purchasing an additional 193 shares during the last quarter. Centre Asset Management LLC lifted its stake in Dominion Energy by 3.3% in the 1st quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock valued at $350,000 after purchasing an additional 198 shares during the last quarter. Cornerstone Wealth Group LLC lifted its stake in Dominion Energy by 1.1% in the 1st quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock valued at $1,022,000 after purchasing an additional 202 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Dominion Energy by 4.6% in the 1st quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock valued at $263,000 after purchasing an additional 208 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on D. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Morgan Stanley cut their price objective on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $58.88.

Dominion Energy Stock Performance

Shares of D traded up $0.03 during mid-day trading on Tuesday, hitting $61.16. 6,471,951 shares of the company's stock were exchanged, compared to its average volume of 5,367,632. The stock's 50-day simple moving average is $56.79 and its 200-day simple moving average is $55.43. The firm has a market cap of $52.16 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.31 and a beta of 0.57. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.81%. The business's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. On average, equities research analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Investors of record on Friday, September 5th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, September 5th. Dominion Energy's dividend payout ratio (DPR) is 92.07%.

Dominion Energy Profile

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.