On June 16, 2023, Sheets Smith Wealth Management announced a drop in its stake in Dominion Energy, Inc. The New York Stock Exchange-listed utilities provider’s shares had experienced a 16.9% reduction in investment by the firm during the fourth quarter of the previous fiscal year. By the end of this time period, Sheets Smith Wealth Management was in possession of 11,583 shares worth $710,000 after selling off 2,352 shares.
This announcement came shortly after Dominion Energy declared a quarterly dividend for shareholders. Those seeking to receive this dividend were required to be recorded as investors on June 2nd before receiving their payout on Tuesday, June 20th. Shareholders’ dividends will amount to $0.6675 per share and represent an annualized dividend of $2.67 yielding at just over 5%. However, Dominion Energy Inc’s current payout ratio is hovering around an alarming rate of nearly 187%.
There has been much discussion concerning Dominion Energy recently with several equities research analysts providing recommendations. The Goldman Sachs Group gave the vendor a “neutral” rating while UBS Group set a “neutral” rating as well but lowered their price objective from $60 to $57 on March 7, giving hints at the medium-term trend downwards if one interpreted this report critically enough. Conversely StockNews.com raised their rating recommendation from sell to hold last May and similarly fifty-one job offered a ‘maintains’ rating on June 9 adding more bullish vibes about Dominion Energy’s stock expectations for investors.
Despite conflicting viewpoints on Dominion Energy by various analysts, the average expectation for the company is that it will remain neutral and that its value per share will settle somewhere around $62.55 according to data from Bloomberg.
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Hedge Funds and Institutional Investors Show Interest in Dominion Energy Holdings
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”D” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Hedge Funds and Institutional Investors Make Changes to Holdings in Dominion Energy
Dominion Energy has been a popular topic of discussion recently, especially with regard to the company’s recent changes in holdings among hedge funds and other institutional investors. Covestor Ltd, for example, grew its shareholdings by 49.8% during the first quarter. Today, it owns 394 shares of the utilities provider’s stock worth $34,000 after buying an additional 131 shares over the last quarter. Retirement Financial Solutions LLC also recently purchased a new stake in Dominion Energy valued at roughly $29,000, while AXS Investments LLC and Boyd Watterson Asset Management LLC OH both made their own purchases as well.
Finally, Live Oak Investment Partners bought a new stake in Dominion Energy in the fourth quarter valued at approximately $34,000. At present though, it is Hedge funds and other institutional investors that hold dominion investing majority of Dominions’ stocks with a total of 70.30% ownership.
But what does this all mean for investors looking to get involved with Dominion Energy? First off, there is the matter of COO Diane Leopold selling 6,250 shares of Dominion Energy on June 1st for $49.16 each – bringing her post-transaction holdings down to just over 100K shares valued at around $4.9 million.
In addition to this news about executive insiders reducing their stakes in Dominion however; investors can expect the company to pay out a quarterly dividend later this month on June 20th – which will be distributed among shareholders as long as they held stock before June 2nd. This year’s dividend pays out at $0.6675 per share from Dominion’s earnings last year and has an annualized yield of approximately 5%. Dominion Energy’s payout ratio currently sits at around 186%, meaning that even after paying out dividends; there is still some cash flow left over to reinvest elsewhere if necessary.
On the technical side of things, Dominion Energy stock (NYSE:D) opened at $52.88 last Friday and has seen a range of values between $48.47 and $86.28 over the past year. The company’s debt-to-equity ratio currently sits at 1.5, its quick ratio is 0.62, and its current ratio is 0.75. Meanwhile, the firm’s market cap weighs in at around $44.2 billion, with a P/E ratio hovering around 37 and a PEG ratio of 0.70 as well as a beta of 0.44.
Looking back on May’s earnings report results; Dominion Energy managed to beat out analysts’ expectations slightly by earning an EPS of $0.99 for the first quarter, compared to a consensus estimate of $0.98 per share thanks in part due to what was revealed as revenue exceeding estimates while their profit margins increased this past fiscal year upholding positive momentum exceeding previous estimates slated within Dominion Financial performance analysis reports distributed across multiple brokerage firms leading into prospect endeavors with hedge funds looking towards future investment development.
It remains to be seen how some investors evaluate these variations in Dominion holdings – generally speaking when many institutional investors make changes in their holdings it could be an indication that they are easing into some profitable insights regarding long-term investing into specific companies or perhaps hedging their already-existing portfolio positions on market trends internally competing for American investor wealth influxes within added US base investors coming from China following recent changes in rules on Wall Street Trading Markets by the Chinese government creating more demand internationally for US-based investments thus diversifying financial portfolios further following global socio-economic activities relative to international relations impacting economies worldwide especially affecting emerging markets globally..
Regardless there has been increased interest from numerous institutional entities relative to recent changes in investments for Company Share-Holdings having sparked great interest among potential new partnerships including larger hedge funds looking to diversify their portfolio risk positionings during a unique time in Financial History.
