Patton Fund Management Inc. Takes Position in Dominion Energy Inc. $D

Key Points

• Patton Fund Management Inc. has acquired a new position in Dominion Energy, purchasing 4,160 shares valued at approximately $235,000 during the 2nd quarter.
• Dominion Energy's stock has been downgraded by analysts, with Morgan Stanley reducing its price target from $64.00 to $63.00 while maintaining an "equal weight" rating.
• The company recently announced a quarterly dividend of $0.6675 per share, yielding 4.4% annually, with a payout ratio of 92.07%.

Patton Fund Management Inc. bought a new position in Dominion Energy Inc. (NYSE:D - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,160 shares of the utilities provider's stock, valued at approximately $235,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Maridea Wealth Management LLC boosted its holdings in shares of Dominion Energy by 2.1% in the 2nd quarter. Maridea Wealth Management LLC now owns 8,940 shares of the utilities provider's stock worth $505,000 after acquiring an additional 183 shares in the last quarter. Private Client Services LLC boosted its stake in Dominion Energy by 3.1% in the second quarter. Private Client Services LLC now owns 6,234 shares of the utilities provider's stock worth $352,000 after purchasing an additional 188 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Dominion Energy by 3.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock worth $338,000 after purchasing an additional 193 shares during the last quarter. Cornerstone Wealth Group LLC increased its stake in shares of Dominion Energy by 1.1% in the first quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock valued at $1,022,000 after buying an additional 202 shares in the last quarter. Finally, Cobblestone Asset Management LLC raised its holdings in shares of Dominion Energy by 3.2% in the second quarter. Cobblestone Asset Management LLC now owns 6,620 shares of the utilities provider's stock valued at $374,000 after buying an additional 206 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on D shares. Morgan Stanley decreased their price objective on shares of Dominion Energy from $64.00 to $63.00 and set an "equal weight" rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $60.33.

Insider Buying and Selling

In related news, CEO Robert M. Blue bought 4,152 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of $60.35 per share, with a total value of $250,573.20. Following the completion of the purchase, the chief executive officer owned 161,237 shares of the company's stock, valued at $9,730,652.95. This represents a 2.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company's stock.

Dominion Energy Stock Up 1.1%

Shares of NYSE D opened at $60.35 on Monday. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.46. The firm's 50-day moving average is $59.99 and its 200-day moving average is $56.77. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $51.50 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60.

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 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 business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm earned $0.65 earnings per share. The company's quarterly revenue was up 9.3% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

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

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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