Harvest Portfolios Group Inc. Raises Position in Dominion Energy Inc. $D

Key Points

• Harvest Portfolios Group Inc. has increased its holdings in Dominion Energy Inc. by 32.5%, acquiring an additional 27,628 shares to bring its total to 112,669 shares, valued at approximately $6.3 million.
• Dominion Energy recently reported earnings of $0.75 per share for the quarter, which was below analyst expectations, despite a year-over-year revenue increase of 9.3% to $3.81 billion.
• The company declared a quarterly dividend of $0.6675, providing a 4.4% yield, with a dividend payout ratio of 92.07% for the year.

Harvest Portfolios Group Inc. raised its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 32.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,669 shares of the utilities provider's stock after purchasing an additional 27,628 shares during the period. Harvest Portfolios Group Inc.'s holdings in Dominion Energy were worth $6,317,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Dynamic Advisor Solutions LLC raised its holdings in Dominion Energy by 3.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock valued at $338,000 after acquiring an additional 193 shares during the last quarter. Centre Asset Management LLC raised its holdings in Dominion Energy by 3.3% in the 1st quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock valued at $350,000 after acquiring an additional 198 shares during the last quarter. Cornerstone Wealth Group LLC raised its holdings in Dominion Energy by 1.1% in the 1st quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock valued at $1,022,000 after acquiring an additional 202 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Dominion Energy by 4.6% in the 1st quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock valued at $263,000 after acquiring an additional 208 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Dominion Energy by 40.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 729 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 209 shares during the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Trading Up 0.1%

Shares of NYSE:D traded up $0.08 during mid-day trading on Friday, reaching $59.89. 4,254,041 shares of the company were exchanged, compared to its average volume of 5,021,105. 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 $51.11 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 1.30 and a beta of 0.57. The firm's 50-day simple moving average is $58.86 and its 200 day simple moving average is $56.23. 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 posted its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share 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 analysts' expectations of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities research analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

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

Insider Buying and Selling

In other Dominion Energy news, CEO Robert M. Blue purchased 4,152 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was bought at an average price 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 corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on D. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a report on Thursday, August 21st. Morgan Stanley cut 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 report on Wednesday, June 18th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $59.57.

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.