Oak Grove Capital LLC Boosts Holdings in Dominion Energy Inc. $D

Key Points

• Oak Grove Capital LLC increased its holdings in Dominion Energy Inc. by 9.4% during the first quarter, acquiring an additional 19,756 shares, bringing its total to 231,006 shares valued at approximately $12.95 million.
• Several hedge funds, including Kayne Anderson Rudnick and VSM Wealth Advisory, made significant modifications to their stakes in Dominion Energy, reflecting growing institutional interest in the stock.
• Dominion Energy's latest earnings report revealed a miss in EPS expectations, reporting $0.75 EPS compared to the expected $0.77, while its revenue increased by 9.3% year-over-year.

Oak Grove Capital LLC grew its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,006 shares of the utilities provider's stock after purchasing an additional 19,756 shares during the quarter. Dominion Energy accounts for about 2.7% of Oak Grove Capital LLC's holdings, making the stock its 11th biggest holding. Oak Grove Capital LLC's holdings in Dominion Energy were worth $12,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Dominion Energy by 1.7% in the first quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider's stock valued at $5,106,823,000 after purchasing an additional 1,565,459 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Dominion Energy by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock valued at $890,318,000 after purchasing an additional 939,835 shares during the period. Bank of America Corp DE raised its holdings in Dominion Energy by 2.9% in the fourth quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider's stock valued at $643,422,000 after acquiring an additional 336,747 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Dominion Energy by 0.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider's stock valued at $616,747,000 after acquiring an additional 63,206 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Dominion Energy by 16.7% in the fourth quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock valued at $501,759,000 after acquiring an additional 1,330,459 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Stock Up 1.4%

D stock traded up $0.8510 during midday trading on Tuesday, reaching $61.2510. 2,816,232 shares of the company were exchanged, compared to its average volume of 5,321,455. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.67. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $62.26. The stock's 50-day simple moving average is $57.81 and its 200 day simple moving average is $55.88. The company has a market cap of $52.27 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57.

Dominion Energy (NYSE:D - Get Free Report) last released 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). Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the business posted $0.65 EPS. The firm's revenue for the quarter 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 forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. Dominion Energy's dividend payout ratio (DPR) is 92.07%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. Morgan Stanley reduced their target price on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Dominion Energy has an average rating of "Hold" and an average target price of $59.14.

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.