The Vanguard Group, Inc. recently announced the acquisition of new stake in Dominion Energy Inc (NYSE:D). The institutional investor has increased its shareholding in the Utilities company by 0.20% to 72.22 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 8.63% valued currently at $2.91 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 1.01 million to 20.72 million shares. And JPMorgan Investment Management, I has lifted its position by 10.47% or 1.76 million shares – to 18.6 million shares.
With over 6.29 million Dominion Energy Inc (D) shares trading Monday and a closing price of $46.13 on the day, the dollar volume was approximately $290.14 million. The shares have shown a negative half year performance of -8.65% and its price on 12/04/23 lost nearly -1.16%. Currently, there are 836.80M common shares owned by the public and among those 835.55M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for D have a consensus price objective of $48.33. The analysts have set the share’s price value over the next 12 months at a high of $57.00 and a low of $41.00. The average price target is 4.55% above its recent price level and a downside to the estimated low will see the stock lose -12.51% over that period. But an upside of 19.07% will see the stock hit the forecast high price target while median target price for the stock is $48.00.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 96,870 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 40,415 shares.
The top 3 mutual fund holders in Dominion Energy Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and MFS Value Fund. Vanguard Total Stock Market ETF owns 26.19 million shares of the company’s stock, all valued at over $1.06 billion. The company bought an additional 0.13 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.1 million shares to see its total holdings expand to 20.21 million shares valued at over $814.99 million and representing 2.42% of the shares outstanding. MFS Value Fund sold 82076.0 shares to bring its total holdings to over 14.97 million shares at a value of $603.42 million. MFS Value Fund now owns shares totaling to 1.79% of the shares outstanding.
Shares of Dominion Energy Inc (NYSE: D) opened at $46.09, down -$0.58 from a prior closing price of $46.67. However, the script later moved the day high at 46.65, down -1.16%. The company’s stock has a 5-day price change of -1.66% and -1.41% over the past three months. D shares are trading -24.77% year to date (YTD), with the 12-month market performance down to -23.59% lower. It has a 12-month low price of $39.18 and touched a high of $63.94 over the same period. D has an average intraday trading volume of 6.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.12%, 5.48%, and -8.90% respectively.
Institutional ownership of Dominion Energy Inc (NYSE: D) shares accounts for 73.87% of the company’s 836.80M shares outstanding. Mutual fund holders own 29.42%, while other institutional holders and individual stakeholders account for 44.75% and 0.74% respectively.
It has a market capitalization of $38.60B and a beta (3y monthly) value of 0.58. The stock’s trailing 12-month PE ratio is 23.57, while the earnings-per-share (ttm) stands at $1.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.11% over the week and 2.46% over the month.
Analysts forecast that Dominion Energy Inc (D) will achieve an EPS of $0.43 for the current quarter, $0.99 for the next quarter and $3.13 for 2024. The lowest estimate earnings-per-share for the quarter is $0.35 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $1.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -35.22%, and 17.30% over the next financial year. EPS should grow at an annualized rate of -5.12% over the next five years, compared to -25.37% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Dominion Energy Inc (D) as a “Moderate Buy” at a consensus score of 2.65. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 12 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the D, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on November 06, 2023, with the firm’s price target at $45-$47.
