Pathway Financial Advisers LLC Reduces Stake in Dominion Energy, Inc.

Pathway Financial Advisers LLC has significantly reduced its investment in Dominion Energy, Inc. (NYSE:D) by 98.3% in the fourth quarter, as disclosed in the latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 47,335 shares during the quarter, the firm now holds just 841 shares of the utility company. At the time of the filing, Pathway Financial Advisers LLC's remaining shares in Dominion Energy were valued at approximately $45,000.

A variety of other institutional investors have also made changes to their holdings in Dominion Energy's stock. For instance, Roble Belko & Company Inc. initiated a new position in the fourth quarter, estimated at about $27,000. Meanwhile, Sanctuary Wealth Management L.L.C. and Frazier Financial Advisors LLC also acquired new stakes, with valuations around $28,000 and $32,000 respectively during the third quarter. Additionally, Dunhill Financial LLC increased its ownership by 601.2% during the same period, now holding 568 shares valued at $33,000 after purchasing an extra 487 shares. Similarly, Larson Financial Group LLC expanded its stake by 282.4%, now owning 608 shares valued at $35,000 following the acquisition of an additional 449 shares last quarter. Currently, institutional investors and hedge funds own 73.04% of Dominion Energy shares.

Market Analyst Opinions

Market analysts have shared their views regarding shares of Dominion Energy. For example, Scotiabank raised its price target on the stock from $58.00 to $61.00 and assigned a "sector perform" rating in a report dated December 12. Goldman Sachs Group reaffirmed a "neutral" rating and set a target price of $61.00 in a report from November 8. Furthermore, Morgan Stanley began coverage of Dominion Energy, issuing an "equal weight" rating and a price target of $61.00 in a report on December 2. Currently, eleven research analysts provide a hold rating for the stock, while two analysts recommend a buy. According to MarketBeat, Dominion Energy currently has an average rating of "Hold" and a consensus price target of $56.58.

Dominion Energy Stock Performance

The stock of Dominion Energy opened at $56.69 recently. It features a 50-day moving average price of $54.44 and a 200-day moving average price of $56.27. Other financial metrics include a quick ratio of 0.58, a current ratio of 0.74, and a debt-to-equity ratio of 1.42. The company's market capitalization stands at $47.62 billion, with a price-to-earnings ratio of 19.89, a PEG ratio of 1.18, and a beta of 0.61. The stock has reached a fifty-two week low of $44.16 and a high of $61.97.

Dividend Announcement

Dominion Energy also announced a quarterly dividend to be distributed on March 20, with stockholders of record on February 28 eligible for a payment of $0.6675 per share. This amounts to an annualized dividend of $2.67, presenting a dividend yield of 4.71%. The ex-dividend date is set for February 28. As of now, Dominion Energy’s dividend payout ratio (DPR) is 93.68%.

About Dominion Energy

Dominion Energy, Inc. operates in the United States, producing and distributing energy through three segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Virginia segment supplies regulated electricity to around 2.8 million residential, commercial, industrial, and governmental customers across Virginia and North Carolina.

Further Insights

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Dominion, Energy, Investment