California State Teachers Retirement System Increases Position in Dominion Energy Inc. $D

Key Points

• CalSTRS dramatically increased its Dominion Energy position by purchasing nearly 68.85 million additional shares in the second quarter, bringing its holdings to 69.84 million shares, or approximately 7.94% of the company.
• Institutional investors and hedge funds own 73.04% of Dominion Energy, with BlackRock, Bank of America, Wellington Management, Norges Bank and Bank of New York Mellon among other major shareholders increasing or initiating positions.
• Dominion reported quarterly earnings of $0.79 per share, exceeding estimates, and revenue rose 17.6% year over year to $4.48 billion. The company also declared a quarterly dividend of $0.6675, representing a 4.1% annualized yield.

California State Teachers Retirement System grew its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 6,985.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,835,266 shares of the utilities provider's stock after purchasing an additional 68,849,598 shares during the period. California State Teachers Retirement System owned approximately 7.94% of Dominion Energy worth $4,769,050,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of D. BlackRock Inc. acquired a new position in Dominion Energy during the 2nd quarter worth about $4,986,439,000. Bank of America Corp DE purchased a new stake in Dominion Energy during the second quarter worth about $996,984,000. Wellington Management Group LLP increased its stake in Dominion Energy by 46.2% during the fourth quarter. Wellington Management Group LLP now owns 44,943,727 shares of the utilities provider's stock worth $2,633,253,000 after purchasing an additional 14,197,581 shares during the period. Norges Bank acquired a new stake in shares of Dominion Energy during the fourth quarter worth about $655,142,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Dominion Energy during the second quarter worth about $697,388,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

Shares of D opened at $65.16 on Thursday. Dominion Energy Inc. has a 1 year low of $55.85 and a 1 year high of $72.99. The stock has a market capitalization of $57.31 billion, a PE ratio of 22.70, a PEG ratio of 3.09 and a beta of 0.64. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.64 and a current ratio of 0.81. The stock has a 50-day simple moving average of $68.59 and a 200-day simple moving average of $65.85.

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

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 20th. Shareholders of record on Friday, September 4th will be given a $0.6675 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.1%. Dominion Energy's dividend payout ratio is currently 93.03%.

Dominion Energy News Roundup

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

• Positive Sentiment: Shareholders approved the Dominion–NextEra merger. Dominion and NextEra shareholders overwhelmingly backed the transaction, clearing a major corporate hurdle. The combination is expected to create the world’s largest regulated electric utility by market capitalization and could provide greater scale and operating efficiencies. SC utility buyout cleared by Dominion and NextEra shareholders
• Neutral Sentiment: The merger still faces a lengthy regulatory review. Although shareholder approval removes a significant obstacle, state and federal regulators must assess the transaction. Reports indicate that regulators may focus on how the deal affects utility rates, competition and reliability, limiting the near-term certainty of the proposed combination. Shareholder backing for merger, regulatory questions remain
• Neutral Sentiment: Dominion will lower Lake Murray’s water level this fall. The drawdown is expected to continue into 2027, with the company warning boaters about reduced water levels. The move appears operational and seasonal rather than a material change to Dominion’s earnings outlook, but it could generate local attention and customer concerns. Dominion to lower Lake Murray levels
• Negative Sentiment: Potential energy-cost increases are creating public opposition to the merger. Residents and stakeholders have raised concerns that the Dominion–NextEra combination could lead to higher energy bills. Such concerns may increase political and regulatory scrutiny and raise the risk of conditions, delays or concessions before approval. Energy costs a concern as merger is considered
• Negative Sentiment: Analyst sentiment remains cautious. Coverage noted that Dominion has outperformed the broader utility sector over the past year, but analysts remain wary about its valuation and future prospects. The stock’s latest decline was also larger than the general market’s, suggesting investors are focusing on merger risks and limited near-term catalysts. Dominion Energy suffers a larger drop than the general market

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Dominion Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. BMO Capital Markets increased their target price on shares of Dominion Energy from $64.00 to $70.00 and gave the stock a "market perform" rating in a report on Wednesday, July 22nd. TD Cowen raised shares of Dominion Energy from a "hold" rating to a "buy" rating and raised their price target for the company from $69.00 to $80.00 in a research report on Wednesday, August 19th. Weiss Ratings restated a "buy (b)" rating on shares of Dominion Energy in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company upped their price objective on Dominion Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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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