Price T Rowe Associates Inc. MD Raises Position in Dominion Energy Inc. $D

Key Points

• Price T Rowe Associates Inc. increased its stake in Dominion Energy by 12.4%, owning approximately 14.1 million shares valued at about $790 million.
• Analyst sentiment is mixed, with Morgan Stanley reducing its price target from $62 to $60, while JPMorgan raised it from $56 to $59, leading to a consensus rating of "Hold" for the stock.
• Dominion Energy announced a quarterly dividend of $0.6675 per share, reflecting a 4.4% yield, and has a payout ratio currently at 92.07% of earnings.

Price T Rowe Associates Inc. MD boosted its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 12.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,091,155 shares of the utilities provider's stock after purchasing an additional 1,552,985 shares during the period. Price T Rowe Associates Inc. MD owned about 1.65% of Dominion Energy worth $790,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Credit Agricole S A grew its holdings in Dominion Energy by 7.2% during the 1st quarter. Credit Agricole S A now owns 239,123 shares of the utilities provider's stock worth $13,408,000 after acquiring an additional 16,112 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Dominion Energy by 5.1% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 21,474 shares of the utilities provider's stock valued at $1,203,000 after purchasing an additional 1,037 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its stake in Dominion Energy by 8.0% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 155,488 shares of the utilities provider's stock valued at $8,718,000 after purchasing an additional 11,471 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Dominion Energy by 5.5% during the first quarter. Legacy Financial Advisors Inc. now owns 9,824 shares of the utilities provider's stock worth $551,000 after acquiring an additional 514 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Dominion Energy during the first quarter worth approximately $1,789,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research note on Thursday, August 21st. Morgan Stanley lowered their price target on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $59.57.

Dominion Energy Trading Up 0.7%

NYSE D traded up $0.40 on Wednesday, reaching $60.22. The company had a trading volume of 1,031,065 shares, compared to its average volume of 5,291,371. The firm has a market cap of $51.39 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.31 and a beta of 0.57. Dominion Energy Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $62.46. The business has a 50 day moving average of $58.51 and a two-hundred day moving average of $56.14. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49.

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 (EPS) 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 the consensus estimate of $3.73 billion. During the same period last year, the company earned $0.65 EPS. Dominion Energy'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. Analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th 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 4.4%. The ex-dividend date of this dividend is Friday, September 5th. Dominion Energy's payout ratio is currently 92.07%.

Dominion Energy Company 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.