Canada Pension Plan Investment Board Sells 805,665 Shares of Dominion Energy Inc. $D

Key Points

• The Canada Pension Plan Investment Board has reduced its stake in Dominion Energy by 7.0%, now holding approximately 10.6 million shares, worth about $596.88 million.
• Dominion Energy announced a quarterly dividend of $0.6675 per share, resulting in an annualized yield of 4.5% with a payout ratio of 92.07%.
• The company's recent earnings report showed quarterly earnings per share of $0.75, falling short of analysts' expectations, but revenue was up 9.3% compared to the previous year.

Canada Pension Plan Investment Board trimmed its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,645,263 shares of the utilities provider's stock after selling 805,665 shares during the period. Canada Pension Plan Investment Board owned approximately 1.25% of Dominion Energy worth $596,880,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new stake in Dominion Energy during the 1st quarter worth $27,000. Orion Capital Management LLC bought a new stake in shares of Dominion Energy in the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC bought a new position in shares of Dominion Energy during the 1st quarter worth approximately $28,000. Park Square Financial Group LLC bought a new position in shares of Dominion Energy in the fourth quarter valued at about $27,000. Finally, Dagco Inc. acquired a new stake in shares of Dominion Energy during the first quarter worth $31,000. Institutional investors and hedge funds own 73.04% of the company's stock.

Dominion Energy Trading Up 0.1%

NYSE D traded up $0.08 on Monday, reaching $59.89. The company had a trading volume of 4,254,041 shares, compared to its average volume of 4,851,146. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 1.30 and a beta of 0.60. 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 fifty-two week low of $48.07 and a fifty-two week high of $62.46. The business has a 50 day moving average of $58.86 and a two-hundred day moving average of $56.22.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the business posted $0.65 earnings per share. The business's revenue was up 9.3% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, September 5th. Dominion Energy's payout ratio is presently 92.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on D shares. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research note on Thursday, August 21st. Morgan Stanley decreased their target price 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 investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $59.57.

Insider Activity

In related news, CEO Robert M. Blue purchased 4,152 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average price of $60.35 per share, with a total value of $250,573.20. Following the acquisition, the chief executive officer owned 161,237 shares of the company's stock, valued at $9,730,652.95. This trade represents a 2.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

Dominion Energy Company 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.