Allspring Global Investments Holdings LLC Has $9.71 Million Holdings in Dominion Energy Inc. $D

Key Points

• Allspring Global Investments Holdings LLC has significantly reduced its stake in Dominion Energy Inc., holding 168,448 shares after selling 137,963 shares, valued at approximately $9.71 million.
• Dominion Energy reported a quarterly EPS of $0.75, missing analysts' estimates, with revenues of $3.81 billion, exceeding expectations.
• The company has declared a quarterly dividend of $0.6675 per share, representing an annual yield of 4.4% and a payout ratio of 92.07%.

Allspring Global Investments Holdings LLC decreased its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 45.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,448 shares of the utilities provider's stock after selling 137,963 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Dominion Energy were worth $9,711,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Patton Fund Management Inc. acquired a new stake in shares of Dominion Energy during the 2nd quarter worth about $235,000. Sowell Financial Services LLC bought a new position in shares of Dominion Energy in the first quarter valued at approximately $314,000. QRG Capital Management Inc. boosted its holdings in shares of Dominion Energy by 13.8% in the 1st quarter. QRG Capital Management Inc. now owns 8,971 shares of the utilities provider's stock worth $503,000 after acquiring an additional 1,087 shares in the last quarter. Bessemer Group Inc. grew its position in Dominion Energy by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 9,394 shares of the utilities provider's stock worth $527,000 after acquiring an additional 616 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in Dominion Energy by 222.7% during the 1st quarter. Golden State Wealth Management LLC now owns 910 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 628 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

D has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on Dominion Energy from $64.00 to $63.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Barclays increased their price objective on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dominion Energy in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research report on Thursday, August 21st. Finally, Evercore ISI assumed coverage on shares of Dominion Energy in a report on Tuesday, October 7th. They issued an "in-line" rating and a $67.00 price target for the company. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of "Hold" and a consensus target price of $62.00.

Dominion Energy Trading Down 0.1%

D opened at $60.58 on Friday. The firm has a 50 day simple moving average of $60.44 and a 200 day simple moving average of $57.41. Dominion Energy Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $62.52. The company has a market cap of $51.70 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.31 and a beta of 0.62. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49.

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 business 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 9.68%. Dominion Energy's revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, sell-side analysts anticipate that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 20th. Investors of record on Friday, September 5th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, September 5th. Dominion Energy's dividend payout ratio is currently 92.07%.

Insiders Place Their Bets

In related news, CEO Robert M. Blue bought 4,152 shares of Dominion Energy stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the acquisition, the chief executive officer owned 161,237 shares in the company, valued at approximately $9,730,652.95. This represents a 2.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.11% of the company's stock.

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.

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