Dark Forest Capital Management LP Has $5.87 Million Stake in Dominion Energy Inc. $D

Key Points

• Dark Forest Capital Management LP increased its stake in Dominion Energy Inc. by 106.7%, owning 104,751 shares valued at approximately $5.87 million at the end of the first quarter.
• The company reported $0.75 earnings per share for the most recent quarter, missing analysts' estimates of $0.77, despite a 9.3% increase in revenue year-over-year.
• Dominion Energy has announced a quarterly dividend of $0.6675 per share with a dividend yield of 4.5%, to be paid on September 20th.

Dark Forest Capital Management LP raised its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 106.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,751 shares of the utilities provider's stock after purchasing an additional 54,072 shares during the period. Dark Forest Capital Management LP's holdings in Dominion Energy were worth $5,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC purchased a new stake in shares of Dominion Energy during the 1st quarter worth about $27,000. Orion Capital Management LLC acquired a new stake in Dominion Energy in the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC acquired a new stake in Dominion Energy in the 1st quarter worth approximately $28,000. Park Square Financial Group LLC acquired a new stake in Dominion Energy in the 4th quarter worth approximately $27,000. Finally, Dagco Inc. acquired a new stake in Dominion Energy in the 1st quarter worth approximately $31,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a report on Thursday, August 21st. Morgan Stanley reduced their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. One investment 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. According to data from MarketBeat, Dominion Energy presently has a consensus rating of "Hold" and an average price target of $59.57.

Dominion Energy Stock Performance

NYSE D traded down $0.62 during trading on Friday, hitting $58.17. The company's stock had a trading volume of 4,895,356 shares, compared to its average volume of 4,161,962. The firm has a market cap of $49.65 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.28 and a beta of 0.60. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $62.46. The firm has a 50 day moving average price of $59.19 and a 200 day moving average price of $56.33.

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

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.6%. Dominion Energy's payout ratio is currently 92.07%.

Insider Activity

In other news, CEO Robert M. Blue acquired 4,152 shares of the stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average cost of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the transaction, the chief executive officer owned 161,237 shares in the company, valued at approximately $9,730,652.95. This trade represents a 2.64% increase in their position. The transaction 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 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.