Raymond James Financial Inc. Sells 69,657 Shares of Dominion Energy Inc. $D

Key Points

• Raymond James Financial Inc. reduced its stake in Dominion Energy by 5.3%, now owning approximately 1.25 million shares valued at about $70.4 million.
• Dominion Energy's recent earnings report indicated an EPS of $0.75, slightly missing analysts' expectations, although revenue rose by 9.3% year-over-year to $3.81 billion.
• Analysts have mixed reviews on Dominion Energy, with a consensus rating of "Hold" and an average price target of $59.14.

Raymond James Financial Inc. decreased its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,256,171 shares of the utilities provider's stock after selling 69,657 shares during the quarter. Raymond James Financial Inc. owned 0.15% of Dominion Energy worth $70,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC lifted its holdings in Dominion Energy by 3.3% during the 1st 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. Centre Asset Management LLC increased its stake in shares of Dominion Energy by 3.3% in the 1st quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock valued at $350,000 after purchasing an additional 198 shares during the last quarter. Cornerstone Wealth Group LLC grew its position in Dominion Energy by 1.1% during the 1st quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock worth $1,022,000 after acquiring an additional 202 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Dominion Energy by 4.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock worth $263,000 after acquiring an additional 208 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in Dominion Energy by 40.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 729 shares of the utilities provider's stock worth $41,000 after acquiring an additional 209 shares during the last quarter. Institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Down 0.5%

NYSE:D traded down $0.32 during mid-day trading on Tuesday, reaching $59.87. 6,066,655 shares of the company's stock traded hands, compared to its average volume of 5,162,757. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $62.46. The firm has a market capitalization of $51.09 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.31 and a beta of 0.57. 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 50 day moving average price of $58.51 and a 200-day moving average price of $56.14.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings results 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 net margin of 16.45% and a return on equity of 9.68%. The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.73 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, sell-side analysts predict that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be issued 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 4.5%. Dominion Energy's dividend payout ratio is 92.07%.

Wall Street Analyst Weigh In

D has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research report on Thursday, August 21st. Morgan Stanley decreased their price objective 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 analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Dominion Energy presently has an average rating of "Hold" and a consensus price target of $59.57.

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.