Dominion Energy Inc. $D Shares Acquired by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. has increased its holdings in Dominion Energy by 16.0%, now owning 30,681 shares valued at approximately $1.73 million.
• Several hedge funds, including Vanguard Group and Dodge & Cox, have also boosted their investments in Dominion Energy, indicating strong institutional support.
• Dominion Energy announced a quarterly dividend of $0.6675 per share, reflecting an annualized yield of 4.4% and a dividend payout ratio of 92.07%.

Patten & Patten Inc. TN lifted its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 16.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,681 shares of the utilities provider's stock after purchasing an additional 4,221 shares during the quarter. Patten & Patten Inc. TN's holdings in Dominion Energy were worth $1,734,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Dominion Energy by 1.7% during the first quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider's stock worth $5,106,823,000 after purchasing an additional 1,565,459 shares during the last quarter. Dodge & Cox boosted 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 during the last quarter. Wellington Management Group LLP boosted its holdings in Dominion Energy by 19.4% in the first quarter. Wellington Management Group LLP now owns 17,744,198 shares of the utilities provider's stock valued at $994,917,000 after acquiring an additional 2,882,252 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Dominion Energy by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock valued at $890,318,000 after acquiring an additional 939,835 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Dominion Energy by 12.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,091,155 shares of the utilities provider's stock valued at $790,092,000 after acquiring an additional 1,552,985 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a report on Thursday, August 21st. Evercore ISI assumed coverage on Dominion Energy in a report on Tuesday, October 7th. They issued an "in-line" rating and a $67.00 target price on the stock. Morgan Stanley reduced their target price on Dominion Energy from $64.00 to $63.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Dominion Energy in a report on Wednesday, October 8th. Finally, Barclays lifted their target price on Dominion Energy from $60.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $62.00.

Insider Buying and Selling

In other Dominion Energy news, CEO Robert M. Blue purchased 4,152 shares of Dominion Energy stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average price of $60.35 per share, with a total value of $250,573.20. Following the completion of the acquisition, the chief executive officer owned 161,237 shares of the company's stock, valued at approximately $9,730,652.95. This trade represents a 2.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company's stock.

Dominion Energy Trading Down 1.7%

Shares of D opened at $60.65 on Friday. The stock's 50-day moving average is $60.46 and its two-hundred day moving average is $57.37. The stock has a market cap of $51.76 billion, a PE ratio of 20.91, a P/E/G ratio of 1.34 and a beta of 0.62. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $62.52. 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 (NYSE:D - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 20th. Investors of record on Friday, September 5th were issued a $0.6675 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. Dominion Energy's dividend payout ratio is currently 92.07%.

About Dominion Energy

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.

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