Bank of Nova Scotia Makes New $12.07 Million Investment in Dominion Energy Inc. $D

Key Points

• Bank of Nova Scotia purchased 176,681 Dominion Energy shares worth approximately $12.07 million in the second quarter. Institutional investors collectively own 73.04% of the utility’s stock.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $69.93; recent targets range from $66 to $80.
• Dominion Energy beat quarterly expectations with $0.79 in EPS and $4.48 billion in revenue, while declaring a quarterly dividend of $0.6675, representing a 4.0% annualized yield.

Bank of Nova Scotia purchased a new position in Dominion Energy Inc. (NYSE:D - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 176,681 shares of the utilities provider's stock, valued at approximately $12,066,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in Dominion Energy by 64.3% during the 4th quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock valued at $489,000 after purchasing an additional 3,553 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Dominion Energy by 8.3% in the first quarter. Empowered Funds LLC now owns 17,571 shares of the utilities provider's stock worth $985,000 after buying an additional 1,344 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Dominion Energy by 40.7% during the first quarter. Woodline Partners LP now owns 70,968 shares of the utilities provider's stock valued at $3,979,000 after buying an additional 20,522 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Dominion Energy by 71.2% during the first quarter. Intech Investment Management LLC now owns 30,460 shares of the utilities provider's stock valued at $1,708,000 after buying an additional 12,663 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its position in shares of Dominion Energy by 9.5% during the second quarter. Schnieders Capital Management LLC. now owns 124,573 shares of the utilities provider's stock valued at $7,041,000 after acquiring an additional 10,775 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on D. Truist Financial cut their target price on Dominion Energy from $68.00 to $66.00 and set a "hold" rating on the stock in a research note on Thursday, August 13th. UBS Group set a $80.00 price objective on Dominion Energy in a research report on Wednesday, August 19th. Seaport Research Partners cut shares of Dominion Energy from a "buy" rating to a "hold" rating in a research note on Wednesday, May 20th. Morgan Stanley dropped their price target on shares of Dominion Energy from $71.00 to $68.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, TD Cowen upgraded shares of Dominion Energy from a "hold" rating to a "buy" rating and boosted their target price for the company from $69.00 to $80.00 in a research note on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $69.93.

Dominion Energy Stock Performance

Shares of D opened at $66.60 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.81 and a debt-to-equity ratio of 1.43. Dominion Energy Inc. has a 52 week low of $55.85 and a 52 week high of $72.99. The stock has a market cap of $58.58 billion, a price-to-earnings ratio of 23.21 and a beta of 0.65. The business has a 50-day simple moving average of $69.19 and a two-hundred day simple moving average of $65.69.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.11. The firm had revenue of $4.48 billion during 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 company'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 earnings per share. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. On average, analysts expect that Dominion Energy Inc. will post 3.57 EPS for the current year.

Dominion Energy Dividend Announcement

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 paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, September 4th. Dominion Energy's dividend payout ratio is presently 93.03%.

About Dominion Energy

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company's core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion's electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source