Bank of America Corp DE Makes New $996.98 Million Investment in Dominion Energy Inc. $D

Key Points

• Bank of America purchased 14.6 million Dominion Energy shares worth approximately $997 million in the second quarter, giving it a 1.66% stake. Institutional investors collectively own 73.04% of the utility.
• Dominion Energy exceeded quarterly expectations with $0.79 in EPS versus the $0.68 consensus and $4.48 billion in revenue, up 17.6% year over year. The company reaffirmed fiscal 2026 EPS guidance of $3.45–$3.69.
• The company declared a quarterly dividend of $0.6675, equivalent to a 4.1% annualized yield, while its proposed merger with NextEra remains subject to regulatory approval and faces political, financial, and environmental concerns.

Bank of America Corp DE purchased a new position in shares of Dominion Energy Inc. (NYSE:D - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,599,270 shares of the utilities provider's stock, valued at approximately $996,984,000. Bank of America Corp DE owned about 1.66% of Dominion Energy as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of D. BlackRock Inc. bought a new stake in shares of Dominion Energy in the second quarter valued at $4,986,439,000. Capital Research Global Investors increased its holdings in Dominion Energy by 9.0% in the 4th quarter. Capital Research Global Investors now owns 59,790,734 shares of the utilities provider's stock worth $3,503,142,000 after acquiring an additional 4,940,692 shares during the last quarter. Geode Capital Management LLC increased its holdings in Dominion Energy by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,442,935 shares of the utilities provider's stock worth $1,196,056,000 after acquiring an additional 314,932 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Dominion Energy by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 12,874,007 shares of the utilities provider's stock valued at $754,288,000 after purchasing an additional 674,782 shares during the last quarter. Finally, Norges Bank purchased a new stake in Dominion Energy during the fourth quarter valued at about $655,142,000. Institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Up 0.1%

Shares of Dominion Energy stock opened at $64.45 on Tuesday. The company's 50-day moving average price is $68.31 and its 200-day moving average price is $65.85. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.43. Dominion Energy Inc. has a 12-month low of $55.85 and a 12-month high of $72.99. The company has a market cap of $56.69 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.00 and a beta of 0.64.

Dominion Energy (NYSE:D - Get Free Report) last posted its earnings results on Friday, July 31st. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.11. The business had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.04 billion. Dominion Energy had a net margin of 13.98% and a return on equity of 9.62%. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. On average, equities analysts expect that Dominion Energy Inc. will post 3.57 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 20th. Shareholders of record on Friday, September 4th will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.67 annualized dividend and a dividend yield of 4.1%. Dominion Energy's dividend payout ratio (DPR) is presently 93.03%.

Dominion Energy News Summary

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: Dominion and NextEra offered significant new incentives ahead of a regulatory vote, including extending a $10 monthly residential bill credit from two years to four, increasing Dominion’s EnergyShare assistance by $100 million through 2038, and promising customers will not bear merger-related costs. Dominion and NextEra Virginia benefits package
• Positive Sentiment: The companies also proposed 1,000 new Virginia jobs, a shareholder-funded co-headquarters tower in Richmond, expanded workforce development, and a supplier program worth up to $1 billion annually for five years. These commitments could help address concerns from Virginia policymakers and improve the merger’s approval odds. Dominion and NextEra supplier program
• Neutral Sentiment: The merger remains subject to regulatory approval, and the companies’ decision to increase concessions highlights the difficulty of securing support from Virginia’s governor, legislators, and utility regulators. The added benefits could reduce political resistance but may also increase execution and financial commitments for the combined company. Expanded state benefits for merger
• Negative Sentiment: Critics argue the transaction could lead to higher electricity bills and more service shutoffs. Reports that Virginia customers incurred billions in unexpected fuel charges after Dominion forecast misses add to concerns about the company’s regulatory record and could make approval more challenging. Dominion fuel charge report
• Negative Sentiment: Debate over Dominion’s proposed large gas plant amid Virginia’s strengthened climate law adds another layer of environmental and regulatory risk. Recent localized outages affecting thousands of customers are a smaller but additional operational concern.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on D shares. Jefferies Financial Group upgraded shares of Dominion Energy from a "hold" rating to a "buy" rating and lifted their target price for the stock from $65.00 to $76.00 in a research note on Thursday, May 28th. Truist Financial cut their price objective on shares of Dominion Energy from $68.00 to $66.00 and set a "hold" rating for the company in a report on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on shares of Dominion Energy from $66.00 to $72.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 19th. Seaport Research Partners downgraded Dominion Energy from a "buy" rating to a "hold" rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Dominion Energy in a report on Wednesday, August 19th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $69.93.

About Dominion Energy

Dominion Energy, Inc is a regulated energy company headquartered in Richmond, Virginia. Through its utility operations, the company generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers, primarily in Virginia and South Carolina.

The company's electric generation portfolio includes nuclear, natural gas, renewable energy and hydroelectric resources. Dominion Energy also operates electric transmission and distribution networks, natural gas distribution systems and related energy infrastructure.

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