MAI Capital Management Acquires 6,087 Shares of Dominion Energy Inc. $D

Key Points

• MAI Capital Management increased its stake in Dominion Energy Inc. by 38.7% in the first quarter, owning 21,836 shares valued at approximately $1.22 million.
• Dominion Energy reported a quarterly earnings miss with an EPS of $0.75, falling short of expectations by $0.02, although revenue increased by 9.3% year-over-year.
• Dominion Energy's recent quarterly dividend is set at $0.6675 per share, yielding 4.5%, with a payout ratio of 92.07%.

MAI Capital Management boosted its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 38.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,836 shares of the utilities provider's stock after purchasing an additional 6,087 shares during the period. MAI Capital Management's holdings in Dominion Energy were worth $1,224,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of D. Dynamic Advisor Solutions LLC increased 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 buying an additional 193 shares during the period. Centre Asset Management LLC raised its holdings in Dominion Energy by 3.3% in the first quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock worth $350,000 after purchasing an additional 198 shares in the last quarter. Cornerstone Wealth Group LLC increased its position in Dominion Energy by 1.1% during the first 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 lifted its position in shares of Dominion Energy by 4.6% in the first 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 in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of 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 worth $41,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 73.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on D shares. JPMorgan Chase & Co. upped their price target 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 target price 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. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $59.57.

Dominion Energy Price Performance

Shares of D stock traded down $0.41 during midday trading on Monday, reaching $57.79. 2,593,381 shares of the company were exchanged, compared to its average volume of 5,260,755. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $62.46. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.67. The company has a market cap of $49.32 billion, a P/E ratio of 19.94, a PEG ratio of 1.26 and a beta of 0.60. The company's 50 day moving average price is $59.19 and its two-hundred day moving average price is $56.34.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, sell-side analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a yield of 4.6%. Dominion Energy's dividend payout ratio (DPR) is currently 92.07%.

Insiders Place Their Bets

In related news, CEO Robert M. Blue acquired 4,152 shares of Dominion Energy stock in a transaction dated 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 in the company, valued at $9,730,652.95. This represents a 2.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company's stock.

About Dominion Energy

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.