NewEdge Advisors LLC Sells 28,008 Shares of Dominion Energy Inc. $D

Key Points

• NewEdge Advisors cut its Dominion Energy stake by 20.9% in the second quarter, selling 28,008 shares and retaining 105,989 shares valued at approximately $7.24 million. Institutional investors and hedge funds collectively own 73.04% of the company.
• The proposed Dominion–NextEra combination is advancing after shareholders approved it, but additional state hearings and opposition from Richmond officials could lead to regulatory conditions, delays or higher costs.
• Dominion exceeded quarterly earnings and revenue expectations, reporting $0.79 in adjusted EPS on $4.48 billion in revenue. The company also declared a $0.6675 quarterly dividend, equivalent to a 4.1% annualized yield, while analysts maintain an overall “Hold” rating with an average $69.93 price target.

NewEdge Advisors LLC lowered its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 20.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 105,989 shares of the utilities provider's stock after selling 28,008 shares during the period. NewEdge Advisors LLC's holdings in Dominion Energy were worth $7,238,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of D. BlackRock Inc. bought a new stake in Dominion Energy in the 2nd quarter valued at $4,986,439,000. California State Teachers Retirement System increased its position in Dominion Energy by 6,985.1% during the 2nd quarter. California State Teachers Retirement System now owns 69,835,266 shares of the utilities provider's stock worth $4,769,050,000 after buying an additional 68,849,598 shares during the period. Bank of America Corp DE bought a new position in Dominion Energy during the 2nd quarter worth $996,984,000. Wellington Management Group LLP lifted its holdings in shares of Dominion Energy by 46.2% during the fourth quarter. Wellington Management Group LLP now owns 44,943,727 shares of the utilities provider's stock worth $2,633,253,000 after buying an additional 14,197,581 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Dominion Energy during the fourth quarter worth $655,142,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Key Dominion Energy News

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: The proposed Dominion–NextEra combination continues to advance after shareholders of both companies approved the transaction on September 3. The combined utility would serve approximately 10 million customer accounts across four states, offering potential scale and operating efficiencies. Wynson Securities announces progress on the Dominion–NextEra combination
• Neutral Sentiment: State regulators are adding local hearings to the merger review, giving communities more opportunities to comment. The hearings do not necessarily derail the transaction but extend the regulatory process and keep the deal in the spotlight. Commission adds local hearings to merger review
• Negative Sentiment: Richmond City Council voted to intervene in the merger case, while local residents and officials criticized potential impacts on electricity costs and Dominion’s proposed large gas plant. The opposition increases the risk of conditions, delays or added costs before approval. Richmond City Council votes to intervene in merger proposal
• Neutral Sentiment: Operational reports included a temporary outage affecting more than 100 customers after a vehicle crash and a planned lowering of Lake Murray’s water level. These events appear localized and are unlikely to materially affect Dominion’s earnings outlook. Dominion to lower Lake Murray levels

Analyst Upgrades and Downgrades

Several research firms recently commented on D. BMO Capital Markets upped their price target on shares of Dominion Energy from $64.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, July 22nd. Barclays dropped their price objective on shares of Dominion Energy from $70.00 to $69.00 and set an "overweight" rating for the company in a research note on Tuesday, June 23rd. Mizuho boosted their price objective on shares of Dominion Energy from $66.00 to $72.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Royal Bank Of Canada increased their target price on shares of Dominion Energy from $66.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Dominion Energy in a report on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $69.93.

Dominion Energy Stock Up 0.7%

Shares of NYSE D opened at $64.83 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.64 and a current ratio of 0.81. Dominion Energy Inc. has a 52 week low of $55.85 and a 52 week high of $72.99. The stock has a market capitalization of $57.02 billion, a P/E ratio of 22.59, a PEG ratio of 3.00 and a beta of 0.64. The stock's fifty day moving average is $68.41 and its 200 day moving average is $65.84.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.11. The business had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.04 billion. Dominion Energy had a net margin of 13.98% and a return on equity of 9.62%. Dominion Energy's revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. Sell-side analysts forecast that Dominion Energy Inc. will post 3.57 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 20th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, September 4th. Dominion Energy's dividend payout ratio is 93.03%.

Dominion Energy Company Profile

Dominion Energy, Inc is a regulated energy company headquartered in Richmond, Virginia. Through its utility operations, the company generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers, primarily in Virginia and South Carolina.

The company's electric generation portfolio includes nuclear, natural gas, renewable energy and hydroelectric resources. Dominion Energy also operates electric transmission and distribution networks, natural gas distribution systems and related energy infrastructure.

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