1832 Asset Management L.P. Has $32.75 Million Stock Holdings in Dominion Energy Inc. $D

Key Points

• 1832 Asset Management L.P. reduced its stake in Dominion Energy by 8.9%, owning approximately 0.07% of the company after selling 57,009 shares in the first quarter.
• Dominion Energy reported $0.75 EPS for the quarter, missing analysts' expectations, while revenue was up 9.3% year-over-year at $3.81 billion.
• The company declared a quarterly dividend of $0.6675 per share, translating to an annualized yield of 4.3% and a payout ratio of 92.07%.

1832 Asset Management L.P. trimmed its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 584,052 shares of the utilities provider's stock after selling 57,009 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.07% of Dominion Energy worth $32,748,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Barnes Wealth Management Group Inc purchased a new stake in Dominion Energy in the 1st quarter valued at $213,000. Norinchukin Bank The grew its holdings in Dominion Energy by 16.2% in the 1st quarter. Norinchukin Bank The now owns 46,461 shares of the utilities provider's stock valued at $2,605,000 after buying an additional 6,484 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in Dominion Energy in the 1st quarter valued at $236,000. CW Advisors LLC grew its holdings in Dominion Energy by 5.9% in the 1st quarter. CW Advisors LLC now owns 201,338 shares of the utilities provider's stock valued at $11,278,000 after buying an additional 11,264 shares in the last quarter. Finally, Summit Financial LLC purchased a new position in shares of Dominion Energy during the 1st quarter worth $220,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on D. JPMorgan Chase & Co. increased their price target 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 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 note on Wednesday, June 18th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Dominion Energy has a consensus rating of "Hold" and an average price target of $59.57.

Dominion Energy Stock Up 0.9%

Shares of NYSE D traded up $0.52 on Wednesday, hitting $60.34. The company had a trading volume of 3,532,945 shares, compared to its average volume of 5,307,272. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $62.46. The business has a 50 day moving average of $58.51 and a two-hundred day moving average of $56.14. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $51.49 billion, a P/E ratio of 20.81, a PEG ratio of 1.31 and a beta of 0.57.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. As a group, equities research analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 annualized dividend and a dividend yield of 4.4%. Dominion Energy's payout ratio is 92.07%.

Insider Activity at Dominion Energy

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

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.