Comerica Bank Has $9.20 Million Stock Position in Dominion Energy Inc. $D

Key Points

• Comerica Bank reduced its stake in Dominion Energy Inc. by 3.3%, holding 164,028 shares valued at approximately $9.20 million as of its recent SEC filing.
• Dominion Energy reported quarterly earnings of $0.75 per share, missing estimates by $0.02, while revenue was up 9.3% year-over-year to $3.81 billion.
• The company announced a quarterly dividend of $0.6675 per share with an annualized yield of 4.4%, and a payout ratio of 92.07%.

Comerica Bank lowered its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,028 shares of the utilities provider's stock after selling 5,606 shares during the period. Comerica Bank's holdings in Dominion Energy were worth $9,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Synovus Financial Corp raised its position in shares of Dominion Energy by 4.6% in the 1st quarter. Synovus Financial Corp now owns 61,010 shares of the utilities provider's stock valued at $3,421,000 after purchasing an additional 2,666 shares in the last quarter. ICONIQ Capital LLC increased its stake in shares of Dominion Energy by 23.4% in the first quarter. ICONIQ Capital LLC now owns 5,460 shares of the utilities provider's stock worth $306,000 after buying an additional 1,036 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Dominion Energy by 409.0% in the first quarter. Campbell & CO Investment Adviser LLC now owns 79,512 shares of the utilities provider's stock worth $4,458,000 after buying an additional 63,891 shares during the last quarter. Dodge & Cox raised its holdings in Dominion Energy by 3.0% in the first quarter. Dodge & Cox now owns 23,308,378 shares of the utilities provider's stock valued at $1,306,901,000 after acquiring an additional 685,245 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in Dominion Energy by 133.9% during the 1st quarter. Jump Financial LLC now owns 20,209 shares of the utilities provider's stock valued at $1,133,000 after acquiring an additional 11,570 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company's stock.

Insider Buying and Selling at Dominion Energy

In other Dominion Energy news, CEO Robert M. Blue purchased 4,152 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were bought at an average cost of $60.35 per share, with a total value of $250,573.20. Following the transaction, the chief executive officer directly owned 161,237 shares in the company, valued at approximately $9,730,652.95. This represents a 2.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company's stock.

Dominion Energy Stock Down 0.5%

Shares of NYSE D traded down $0.32 during mid-day trading on Tuesday, reaching $59.58. 1,027,296 shares of the company traded hands, compared to its average volume of 5,265,255. Dominion Energy Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $62.46. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.67. The company's fifty day moving average is $58.94 and its two-hundred day moving average is $56.25. The stock has a market cap of $50.84 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.30 and a beta of 0.60.

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

Dominion Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on D. Morgan Stanley dropped their target price on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price objective on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $59.57.

Dominion Energy 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.