SCS Capital Management LLC Invests $642,000 in Dominion Energy Inc. $D

Key Points

• SCS Capital Management LLC invested approximately $642,000 in Dominion Energy Inc. by acquiring 11,455 shares during the 1st quarter.
• CEO Robert M. Blue increased his stake in Dominion Energy by purchasing 4,152 shares, worth about $250,573, bringing his total ownership to 161,237 shares.
• Dominion Energy reported a quarterly earnings per share of $0.75, falling short of analyst estimates, while quarterly revenue increased by 9.3% year-over-year.

SCS Capital Management LLC acquired a new position in Dominion Energy Inc. (NYSE:D - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,455 shares of the utilities provider's stock, valued at approximately $642,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Dominion Energy by 1.7% during the first quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider's stock worth $5,106,823,000 after buying an additional 1,565,459 shares in the last quarter. Dodge & Cox raised its stake in Dominion Energy by 3.0% in the 1st quarter. Dodge & Cox now owns 23,308,378 shares of the utilities provider's stock valued at $1,306,901,000 after acquiring an additional 685,245 shares during the period. Wellington Management Group LLP grew its holdings in Dominion Energy by 19.4% during the 1st quarter. Wellington Management Group LLP now owns 17,744,198 shares of the utilities provider's stock valued at $994,917,000 after buying an additional 2,882,252 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 worth $890,318,000 after buying an additional 939,835 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position 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 last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Trading Up 0.1%

Shares of D stock traded up $0.08 on Friday, reaching $60.09. 3,979,374 shares of the stock were exchanged, compared to its average volume of 4,608,628. The stock has a market cap of $51.28 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.30 and a beta of 0.60. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The firm has a 50 day moving average of $59.41 and a two-hundred day moving average of $56.42. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $62.46.

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 the consensus estimate of $0.77 by ($0.02). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. 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, research analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Investors of record on Friday, September 5th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. Dominion Energy's dividend payout ratio (DPR) is currently 92.07%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on D shares. Morgan Stanley cut their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. increased their target price on 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 given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Dominion Energy presently has an average rating of "Hold" and a consensus target price of $59.57.

Insider Buying and Selling at Dominion Energy

In other Dominion Energy news, CEO Robert M. Blue purchased 4,152 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the acquisition, the chief executive officer owned 161,237 shares of the company's stock, valued at $9,730,652.95. This trade represents a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company's stock.

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.