APG Asset Management N.V. Lowers Stock Holdings in Dominion Energy Inc. $D

Key Points

• APG Asset Management N.V. reduced its holdings in Dominion Energy Inc. by 6.8%, now owning about 730,880 shares, following a sale of 52,948 shares in the first quarter.
• The company announced a quarterly dividend of $0.6675, which translates to an annual yield of 4.3%, as it prepares for its payment on September 20th.
• Analysts have set a consensus rating of "Hold" for Dominion Energy shares, with an average target price of $59.57, amid varied views on price targets from major firms.

APG Asset Management N.V. decreased its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 730,880 shares of the utilities provider's stock after selling 52,948 shares during the period. APG Asset Management N.V. owned about 0.09% of Dominion Energy worth $37,938,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in Dominion Energy during the 4th quarter worth about $27,000. Park Square Financial Group LLC acquired a new position in Dominion Energy during the 4th quarter worth about $27,000. AlphaQuest LLC acquired a new position in Dominion Energy during the 1st quarter worth about $27,000. VSM Wealth Advisory LLC acquired a new stake in Dominion Energy in the 1st quarter valued at about $28,000. Finally, Navigoe LLC acquired a new stake in Dominion Energy in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 73.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on D. JPMorgan Chase & Co. increased their price target on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research report on Thursday, August 21st. Morgan Stanley reduced their price target on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Dominion Energy presently has a consensus rating of "Hold" and a consensus price target of $59.57.

Dominion Energy Stock Up 0.9%

Shares of NYSE D traded up $0.52 during midday trading on Wednesday, hitting $60.34. 3,532,945 shares of the company's stock were exchanged, compared to its average volume of 5,307,272. 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 Inc. has a twelve month low of $48.07 and a twelve month high of $62.46. The company has a market cap of $51.49 billion, a PE ratio of 20.81, a P/E/G ratio of 1.31 and a beta of 0.57. The firm's fifty day simple moving average is $58.51 and its 200-day simple moving average is $56.14.

Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Research analysts predict that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

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

Insider Transactions at Dominion Energy

In other news, CEO Robert M. Blue purchased 4,152 shares of the company's stock in a transaction that occurred 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 purchase, the chief executive officer directly owned 161,237 shares of the company's stock, valued at $9,730,652.95. This represents a 2.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

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.