BlackRock Inc. Invests $4.99 Billion in Dominion Energy Inc. $D

Key Points

• BlackRock acquired 73.0 million Dominion Energy shares worth approximately $4.99 billion, giving it an 8.3% stake. Institutional investors collectively own 73.04% of the utility.
• Dominion Energy exceeded quarterly expectations, reporting $0.79 in EPS versus $0.68 expected and $4.48 billion in revenue, up 17.6% year over year. Analysts project full-year EPS of $3.57.
• The stock carries a consensus “Hold” rating with a $68 average price target, while its quarterly dividend of $0.6675 implies a 3.9% annual yield.

BlackRock Inc. bought a new position in Dominion Energy Inc. (NYSE:D - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 73,018,575 shares of the utilities provider's stock, valued at approximately $4,986,439,000. BlackRock Inc. owned approximately 8.30% of Dominion Energy at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in D. Wellington Management Group LLP lifted its position in shares of Dominion Energy by 46.2% during the 4th quarter. Wellington Management Group LLP now owns 44,943,727 shares of the utilities provider's stock valued at $2,633,253,000 after acquiring an additional 14,197,581 shares during the last quarter. Norges Bank acquired a new position in shares of Dominion Energy in the 4th quarter worth $655,142,000. Bank of New York Mellon Corp acquired a new position in shares of Dominion Energy in the 2nd quarter worth $697,388,000. Capital Research Global Investors raised its position in shares of Dominion Energy by 9.0% during the fourth quarter. Capital Research Global Investors now owns 59,790,734 shares of the utilities provider's stock worth $3,503,142,000 after purchasing an additional 4,940,692 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Dominion Energy during the second quarter valued at $176,652,000. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Weiss Ratings upgraded Dominion Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 22nd. Seaport Research Partners lowered shares of Dominion Energy from a "buy" rating to a "hold" rating in a research note on Wednesday, May 20th. Jefferies Financial Group upgraded shares of Dominion Energy from a "hold" rating to a "buy" rating and raised their target price for the stock from $65.00 to $76.00 in a report on Thursday, May 28th. Truist Financial dropped their target price on shares of Dominion Energy from $68.00 to $66.00 and set a "hold" rating on the stock in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered shares of Dominion Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $68.00.

Dominion Energy Stock Performance

Shares of D stock opened at $68.64 on Wednesday. The firm has a market cap of $60.37 billion, a P/E ratio of 23.92 and a beta of 0.65. The stock's 50-day moving average is $69.20 and its two-hundred day moving average is $65.50. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.81 and a quick ratio of 0.64. Dominion Energy Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $72.99.

Dominion Energy (NYSE:D - Get Free Report) last posted its earnings results on Friday, July 31st. The utilities provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.68 by $0.11. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.75 earnings per share. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. Analysts predict that Dominion Energy Inc. will post 3.57 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 20th. Shareholders of record on Friday, September 4th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.67 dividend on an annualized basis and a yield of 3.9%. 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.

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