Dominion Energy Inc. $D Shares Sold by Sciencast Management LP

Key Points

• Sciencast Management LP reduced its stake in Dominion Energy Inc. by 36.7%, leaving it with 7,810 shares valued at approximately $438,000.
• Institutional investors hold about 73.04% of Dominion Energy's stock, with notable increases in holdings from firms like Vanguard Group Inc. and Wellington Management Group LLP.
• Dominion Energy recently announced a quarterly dividend of $0.6675 per share, equating to an annualized yield of 4.6%, with a payout ratio of 92.07%.

Sciencast Management LP cut its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 36.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,810 shares of the utilities provider's stock after selling 4,526 shares during the quarter. Sciencast Management LP's holdings in Dominion Energy were worth $438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of D. Vanguard Group Inc. grew its holdings in Dominion Energy by 1.7% in 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 purchasing an additional 1,565,459 shares during the period. Dodge & Cox grew its holdings in Dominion Energy by 3.0% in the first quarter. Dodge & Cox now owns 23,308,378 shares of the utilities provider's stock valued at $1,306,901,000 after purchasing an additional 685,245 shares during the period. Wellington Management Group LLP grew its holdings in Dominion Energy by 19.4% in 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 purchasing an additional 2,882,252 shares during the period. Bank of New York Mellon Corp grew its holdings in Dominion Energy by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock valued at $890,318,000 after purchasing an additional 939,835 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Dominion Energy by 12.4% in 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 purchasing an additional 1,552,985 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dominion Energy

In other news, CEO Robert M. Blue bought 4,152 shares of Dominion Energy stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average cost of $60.35 per share, with a total value of $250,573.20. Following the completion of the transaction, the chief executive officer owned 161,237 shares in the company, valued at approximately $9,730,652.95. This trade represents a 2.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company's stock.

Dominion Energy Trading Up 0.1%

D stock traded up $0.08 during midday trading on Friday, reaching $60.09. 3,979,374 shares of the company's stock traded hands, compared to its average volume of 4,480,437. The company has a market capitalization of $51.28 billion, a P/E ratio of 20.72, a PEG ratio of 1.30 and a beta of 0.60. 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 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 price of $59.41 and a two-hundred day moving average price of $56.41.

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 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 analyst estimates of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities research analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be given 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 presently 92.07%.

Analyst Upgrades and Downgrades

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

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.