Optas LLC Makes New $334,000 Investment in Dominion Energy Inc. $D

Key Points

• Optas LLC made a new investment of approximately $334,000 in Dominion Energy by purchasing 5,908 shares in the second quarter.
• Dominion Energy recently declared a quarterly dividend of $0.6675, which gives an annualized yield of 4.4% based on its current share price.
• The company's last quarterly earnings report revealed a profit of $0.75 EPS, which was slightly below the analyst consensus estimate of $0.77 EPS.

Optas LLC bought a new position in Dominion Energy Inc. (NYSE:D - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,908 shares of the utilities provider's stock, valued at approximately $334,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Dominion Energy by 19.4% during the first quarter. Wellington Management Group LLP now owns 17,744,198 shares of the utilities provider's stock valued at $994,917,000 after buying an additional 2,882,252 shares during the last quarter. Nuveen LLC purchased a new stake in Dominion Energy during the first quarter valued at approximately $96,723,000. AQR Capital Management LLC increased its holdings in Dominion Energy by 588.9% during the first quarter. AQR Capital Management LLC now owns 1,974,405 shares of the utilities provider's stock valued at $109,678,000 after buying an additional 1,687,819 shares during the last quarter. Vanguard Group Inc. increased its holdings in Dominion Energy by 1.7% during 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 buying an additional 1,565,459 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Dominion Energy by 12.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,091,155 shares of the utilities provider's stock valued at $790,092,000 after buying an additional 1,552,985 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Down 0.6%

D stock opened at $60.19 on Friday. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $62.46. 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 company has a market capitalization of $51.37 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.31 and a beta of 0.62. The business has a 50 day simple moving average of $60.45 and a two-hundred day simple moving average of $57.13.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly 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 return on equity of 9.68% and a net margin of 16.45%.The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. The company'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. Research analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Dominion Energy news, CEO Robert M. Blue purchased 4,152 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was acquired at an average cost of $60.35 per share, for a total transaction of $250,573.20. Following the purchase, the chief executive officer directly owned 161,237 shares of the company's stock, valued at $9,730,652.95. This trade represents a 2.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

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.

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