Royal Bank of Canada Sells 554,779 Shares of Dominion Energy Inc. $D

Key Points

• Royal Bank of Canada reduced its stake in Dominion Energy Inc. by 12.4%, selling 554,779 shares, and now owns approximately 0.46% of the company, valued at $219.7 million.
• Dominion Energy reported an EPS of $0.75 for the latest quarter, missing analyst estimates, but achieved a revenue of $3.81 billion, surpassing forecasts.
• The company declared a quarterly dividend of $0.6675, translating to an annualized yield of 4.5%, with a high dividend payout ratio of 92.07%.

Royal Bank of Canada lessened its position in Dominion Energy Inc. (NYSE:D - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,918,428 shares of the utilities provider's stock after selling 554,779 shares during the quarter. Royal Bank of Canada owned about 0.46% of Dominion Energy worth $219,705,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new position in Dominion Energy in the 4th quarter worth $27,000. Park Square Financial Group LLC bought a new position in Dominion Energy in the 4th quarter worth $27,000. AlphaQuest LLC bought a new position in Dominion Energy in the 1st quarter worth $27,000. VSM Wealth Advisory LLC bought a new position in Dominion Energy in the 1st quarter worth $28,000. Finally, Dagco Inc. acquired a new stake in Dominion Energy in the 1st quarter worth $31,000. Institutional investors own 73.04% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on D shares. JPMorgan Chase & Co. raised their price target on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research report on Thursday, August 21st. Morgan Stanley decreased their price target on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $59.57.

Dominion Energy Price Performance

Shares of NYSE:D traded down $0.62 during midday trading on Friday, reaching $58.17. 4,895,356 shares of the company's stock were exchanged, compared to its average volume of 4,212,017. The company's 50 day simple moving average is $59.19 and its two-hundred day simple moving average is $56.34. The firm has a market capitalization of $49.65 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.26 and a beta of 0.60. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $62.46. 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 (NYSE:D - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.Dominion Energy's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities research analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.6%. Dominion Energy's dividend payout ratio (DPR) is presently 92.07%.

Insider Activity

In related news, CEO Robert M. Blue acquired 4,152 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was bought at an average cost of $60.35 per share, with a total value of $250,573.20. Following the completion of the acquisition, the chief executive officer owned 161,237 shares in the company, valued at $9,730,652.95. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company's stock.

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.