Dominion Energy Inc. $D Position Reduced by TCV Trust & Wealth Management Inc.

Key Points

• TCV Trust & Wealth Management Inc. reduced its stake in Dominion Energy by 19.3% during the 2nd quarter, leaving it with 48,574 shares valued at approximately $2.74 million.
• Dominion Energy reported a Q2 EPS of $0.75, falling short of the consensus estimate of $0.77, even as revenue increased to $3.81 billion, surpassing expectations.
• The company's dividend of $0.6675 per share represents an annual yield of 4.5% and reflects a payout ratio of 92.07% as it continues to navigate a strong institutional ownership base.

TCV Trust & Wealth Management Inc. lowered its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 19.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,574 shares of the utilities provider's stock after selling 11,589 shares during the quarter. TCV Trust & Wealth Management Inc.'s holdings in Dominion Energy were worth $2,745,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Dominion Energy by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider's stock worth $5,106,823,000 after acquiring an additional 1,565,459 shares in the last quarter. Dodge & Cox increased its position in shares of 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 grew its position in shares of 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 purchasing an additional 2,882,252 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Dominion Energy by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock worth $890,318,000 after purchasing an additional 939,835 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Dominion Energy by 12.4% in the 1st 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 own 73.04% of the company's stock.

Dominion Energy Price Performance

Shares of D traded up $0.19 during midday trading on Friday, hitting $59.93. 9,144,823 shares of the company traded hands, compared to its average volume of 4,843,721. Dominion Energy Inc. has a one year low of $48.07 and a one year high of $62.46. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49. The firm has a market cap of $51.15 billion, a P/E ratio of 20.67, a PEG ratio of 1.30 and a beta of 0.60. The stock has a 50-day moving average of $59.68 and a 200-day moving average of $56.56.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. Dominion Energy's 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. As a group, sell-side analysts predict that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

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

Insider Transactions at Dominion Energy

In related news, CEO Robert M. Blue acquired 4,152 shares of Dominion Energy stock in a transaction on Wednesday, August 27th. The stock was purchased at an average cost 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 in the company, valued at approximately $9,730,652.95. The trade was a 2.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

D has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price target 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. raised their target price on shares of Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Dominion Energy has a consensus rating of "Hold" and a consensus target price of $59.83.

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.