CIBC Asset Management Inc Boosts Stake in Dominion Energy Inc. $D

Key Points

• CIBC Asset Management increased its stake in Dominion Energy by 71% in the fourth quarter, bringing its holdings to 201,697 shares valued at about $11.8 million.
• Dominion Energy reported better-than-expected Q1 earnings, with EPS of $0.95 versus estimates of $0.90 and revenue of $5.02 billion, up 23.1% year over year.
• The company declared a quarterly dividend of $0.6675 per share, equal to an annualized yield of about 4.0%, while analysts currently have a consensus Hold rating and target price of $67.69.

CIBC Asset Management Inc raised its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 71.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,697 shares of the utilities provider's stock after buying an additional 83,774 shares during the quarter. CIBC Asset Management Inc's holdings in Dominion Energy were worth $11,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AustralianSuper Pty Ltd lifted its holdings in Dominion Energy by 1,785.9% in the 3rd quarter. AustralianSuper Pty Ltd now owns 519,100 shares of the utilities provider's stock worth $31,753,000 after purchasing an additional 491,574 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dominion Energy by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 106,158,920 shares of the utilities provider's stock valued at $6,493,741,000 after buying an additional 363,610 shares during the period. ANTIPODES PARTNERS Ltd raised its holdings in Dominion Energy by 84,502.3% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,735,194 shares of the utilities provider's stock valued at $106,150,000 after buying an additional 1,733,143 shares during the period. Citigroup Inc. raised its holdings in Dominion Energy by 36.7% during the 3rd quarter. Citigroup Inc. now owns 2,422,315 shares of the utilities provider's stock valued at $148,173,000 after buying an additional 649,989 shares during the period. Finally, Stratos Wealth Partners LTD. raised its holdings in Dominion Energy by 53.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 47,953 shares of the utilities provider's stock valued at $2,933,000 after buying an additional 16,635 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 0.8%

Shares of NYSE D opened at $67.00 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.78 and a quick ratio of 0.61. The stock has a market capitalization of $58.93 billion, a P/E ratio of 19.82 and a beta of 0.65. Dominion Energy Inc. has a 1-year low of $53.36 and a 1-year high of $68.97. The business has a fifty day moving average price of $63.86 and a 200 day moving average price of $62.07.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The utilities provider reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The firm had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $4.43 billion. Dominion Energy had a return on equity of 9.63% and a net margin of 16.93%.The firm's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 EPS. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. Equities research analysts expect that Dominion Energy Inc. will post 3.59 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 20th. Investors of record on Friday, May 29th will be paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, May 29th. Dominion Energy's dividend payout ratio is 78.99%.

Analysts Set New Price Targets

D has been the topic of several research analyst reports. Jefferies Financial Group raised Dominion Energy from a "hold" rating to a "buy" rating and upped their price objective for the company from $65.00 to $76.00 in a research report on Thursday, May 28th. Morgan Stanley cut their price objective on Dominion Energy from $69.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. Truist Financial cut their price objective on Dominion Energy from $67.00 to $66.00 and set a "hold" rating on the stock in a research report on Friday, May 29th. Wells Fargo & Company upped their price objective on Dominion Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Finally, Bank of America upped their price objective on Dominion Energy from $63.00 to $65.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. Four research 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $67.69.

Dominion Energy Company Profile

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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