Exchange Traded Concepts LLC Increases Position in Dominion Energy Inc. $D

Key Points

• Exchange Traded Concepts LLC increased its stake in Dominion Energy by 32.5% in Q2, owning 126,614 shares valued at approximately $7.15 million.
• The company's quarterly earnings missed expectations with an EPS of $0.75, while revenue surpassed forecasts at $3.81 billion.
• Dominion Energy announced a quarterly dividend of $0.6675 per share, yielding around 4.5% and resulting in a payout ratio of 92.07%.

Exchange Traded Concepts LLC raised its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 32.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,614 shares of the utilities provider's stock after purchasing an additional 31,077 shares during the period. Exchange Traded Concepts LLC's holdings in Dominion Energy were worth $7,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 purchasing an additional 1,565,459 shares in the last quarter. Dodge & Cox raised its stake in shares of Dominion Energy by 3.0% during the 1st quarter. Dodge & Cox now owns 23,308,378 shares of the utilities provider's stock worth $1,306,901,000 after purchasing an additional 685,245 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Dominion Energy by 19.4% during the 1st quarter. Wellington Management Group LLP now owns 17,744,198 shares of the utilities provider's stock worth $994,917,000 after purchasing an additional 2,882,252 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Dominion Energy by 6.3% during the 1st 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD raised 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 in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 0.9%

D traded up $0.54 during midday trading on Tuesday, hitting $60.36. 785,822 shares of the company were exchanged, compared to its average volume of 5,271,196. The firm has a market capitalization of $51.51 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.30 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. The firm's 50 day moving average price is $59.74 and its 200-day moving average price is $56.61. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $62.46.

Dominion Energy (NYSE:D - Get Free Report) last announced 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). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm's revenue for the quarter 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, equities analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. Morgan Stanley decreased their price objective on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Dominion Energy has a consensus rating of "Hold" and a consensus price target of $59.83.

Insider Buying and Selling

In other news, CEO Robert M. Blue bought 4,152 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was acquired 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 of the company's stock, valued at approximately $9,730,652.95. This represents a 2.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

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.