Kanawha Capital Management LLC Increases Position in Dominion Energy Inc. $D

Key Points

• Kanawha Capital Management LLC increased its stake in Dominion Energy Inc. by 2.9%, owning 206,244 shares worth approximately $11.7 million.
• Dominion Energy reported a quarterly earnings per share of $0.75, missing estimates by $0.02, while revenue rose to $3.81 billion, surpassing expectations.
• The company declared a quarterly dividend of $0.6675 per share, reflecting a 4.4% yield and a high dividend payout ratio of 92.07%.

Kanawha Capital Management LLC lifted its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 206,244 shares of the utilities provider's stock after purchasing an additional 5,814 shares during the period. Kanawha Capital Management LLC's holdings in Dominion Energy were worth $11,657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of D. AlphaQuest LLC purchased a new position in shares of Dominion Energy during the 1st quarter valued at $27,000. VSM Wealth Advisory LLC bought a new stake in Dominion Energy in the 1st quarter valued at about $28,000. Dagco Inc. purchased a new stake in Dominion Energy during the first quarter valued at about $31,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Dominion Energy in the first quarter worth about $34,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Dominion Energy in the first quarter valued at approximately $34,000. 73.04% of the stock is owned by institutional investors.

Dominion Energy Stock Down 0.1%

Shares of NYSE:D opened at $60.58 on Friday. The stock has a market capitalization of $51.70 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 1.31 and a beta of 0.62. The stock's 50-day moving average price is $60.44 and its 200-day moving average price is $57.40. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $62.52.

Dominion Energy (NYSE:D - Get Free Report) last issued its 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 analysts' expectations of $3.73 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. The company'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. On average, equities analysts anticipate that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on D. Barclays increased their target price on Dominion Energy from $60.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. Morgan Stanley reduced their price target on Dominion Energy from $64.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, September 25th. Evercore ISI initiated coverage on Dominion Energy in a research report on Tuesday, October 7th. They issued an "in-line" rating and a $67.00 price target for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Dominion Energy in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $62.00.

Insider Transactions at Dominion Energy

In other news, CEO Robert M. Blue acquired 4,152 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the transaction, the chief executive officer owned 161,237 shares of the company's stock, valued at $9,730,652.95. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

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.

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