Geode Capital Management LLC Boosts Stake in Dominion Energy Inc. $D

Key Points

• Geode Capital Management increased its stake in Dominion Energy by 1.6% in the fourth quarter, bringing its holdings to 20.44 million shares worth about $1.20 billion.
• Several other major institutional investors also boosted positions, and hedge funds and institutions now own 73.04% of Dominion Energy’s stock.
• Dominion Energy reported better-than-expected quarterly results with EPS of $0.95 versus $0.90 expected, and it also announced a quarterly dividend of $0.6675 per share, implying a 4.0% annual yield.

Geode Capital Management LLC grew its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,442,935 shares of the utilities provider's stock after buying an additional 314,932 shares during the quarter. Geode Capital Management LLC owned 2.39% of Dominion Energy worth $1,196,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Dominion Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 107,099,758 shares of the utilities provider's stock valued at $6,274,975,000 after buying an additional 940,838 shares in the last quarter. Capital Research Global Investors raised its position in shares of Dominion Energy by 22.4% during the 3rd quarter. Capital Research Global Investors now owns 54,850,042 shares of the utilities provider's stock valued at $3,355,175,000 after buying an additional 10,049,691 shares in the last quarter. State Street Corp raised its position in shares of Dominion Energy by 1.3% during the 3rd quarter. State Street Corp now owns 46,934,223 shares of the utilities provider's stock valued at $2,870,966,000 after buying an additional 592,815 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Dominion Energy by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 30,746,146 shares of the utilities provider's stock valued at $1,880,742,000 after buying an additional 1,298,881 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Dominion Energy by 3.0% during the 3rd quarter. Bank of America Corp DE now owns 14,678,283 shares of the utilities provider's stock valued at $897,871,000 after buying an additional 422,971 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on D shares. Scotiabank increased their target price on shares of Dominion Energy from $63.00 to $67.00 and gave the company a "sector perform" rating in a report on Monday, March 2nd. Morgan Stanley reduced their target price on shares of Dominion Energy from $69.00 to $68.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Dominion Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Truist Financial lowered their target price on Dominion Energy from $67.00 to $66.00 and set a "hold" rating for the company in a research note on Friday. Finally, Bank of America raised their price target on Dominion Energy from $63.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Dominion Energy currently has an average rating of "Hold" and a consensus target price of $67.69.

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $66.95 on Friday. The stock has a market capitalization of $58.88 billion, a P/E ratio of 19.81 and a beta of 0.65. Dominion Energy Inc. has a one year low of $53.36 and a one year high of $68.97. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.78 and a quick ratio of 0.61. The business's 50 day simple moving average is $63.28 and its two-hundred day simple moving average is $61.90.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.43 billion. Dominion Energy had a net margin of 16.93% and a return on equity of 9.63%. The company's revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. Analysts forecast that Dominion Energy Inc. will post 3.59 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 20th. Shareholders of record on Friday, May 29th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, May 29th. Dominion Energy's dividend payout ratio (DPR) is 78.99%.

Dominion Energy Profile

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company's core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion's electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.

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