State Street Corp Buys 1,704,954 Shares of Dominion Energy Inc. $D

Key Points

• State Street increased its Dominion Energy stake by 3.5%, purchasing 1.7 million additional shares to own approximately 5.79% of the company, valued at $3.48 billion. Institutional investors collectively hold 73.04% of Dominion’s stock.
• Dominion and NextEra expanded their proposed Virginia benefits package, including up to $1 billion in annual supplier spending, customer bill credits and about 1,000 jobs. However, disputes over merger documents and requests to reset the regulatory review timeline could delay approval.
• Analysts maintain a consensus “Hold” rating with an average price target of $69.79, while Dominion reported quarterly earnings and revenue above expectations. The company also offers a $2.67 annualized dividend, yielding approximately 4.3%.

State Street Corp boosted its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 3.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,917,469 shares of the utilities provider's stock after purchasing an additional 1,704,954 shares during the quarter. State Street Corp owned about 5.79% of Dominion Energy worth $3,477,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Dominion Energy in the second quarter worth $4,986,439,000. Capital Research Global Investors grew its position in Dominion Energy by 9.0% in the fourth quarter. Capital Research Global Investors now owns 59,790,734 shares of the utilities provider's stock valued at $3,503,142,000 after acquiring an additional 4,940,692 shares during the period. Geode Capital Management LLC grew its position in Dominion Energy by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,442,935 shares of the utilities provider's stock valued at $1,196,056,000 after acquiring an additional 314,932 shares during the period. Bank of America Corp DE raised its stake in Dominion Energy by 15.7% during the first quarter. Bank of America Corp DE now owns 15,930,241 shares of the utilities provider's stock worth $984,808,000 after acquiring an additional 2,164,951 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Dominion Energy by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 12,874,007 shares of the utilities provider's stock valued at $754,288,000 after acquiring an additional 674,782 shares during the period. Institutional investors and hedge funds own 73.04% of the company's stock.

More Dominion Energy News

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: Dominion and NextEra expanded their proposed Virginia benefits package, including up to $1 billion in annual spending with Virginia suppliers for five years, four years of customer bill credits, and approximately 1,000 new jobs. The concessions are intended to address concerns and improve the merger’s chances of receiving approval. NextEra and Dominion unveil a bigger pitch for Virginia
• Neutral Sentiment: Dominion is preparing for storms, including potential salt contamination and power disruptions, and is providing customers with guidance for cooler temperatures. These efforts support reliability but are unlikely to materially change the investment outlook unless outages or restoration costs become significant. Salt contamination and other concerns Dominion Energy is preparing for ahead of storms
• Negative Sentiment: Virginia’s State Corporation Commission heard arguments over Clean Virginia’s request to compel Dominion and NextEra to provide allegedly withheld merger-related documents. The dispute raises concerns about transparency and could delay the regulatory review. Dominion-NextEra merger: SCC hears arguments on Clean Virginia motion to compel
• Negative Sentiment: Virginia Attorney General Jay Jones asked the SCC to reset the merger review timeline, arguing that the expanded proposal represents a materially different deal. A delayed decision would prolong uncertainty and could increase execution costs for Dominion. A different deal on the table
• Negative Sentiment: Opposition to a Dominion substation expansion in Prince William County and reports of more than 6,700 customers losing power add local permitting and reliability risks, although neither issue appears large enough by itself to alter Dominion’s broader earnings outlook.

Wall Street Analyst Weigh In

A number of equities analysts have commented on D shares. Morgan Stanley reduced their price target on shares of Dominion Energy from $68.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Friday, September 18th. Truist Financial cut their target price on shares of Dominion Energy from $68.00 to $66.00 and set a "hold" rating for the company in a research note on Thursday, August 13th. Mizuho boosted their target price on Dominion Energy from $66.00 to $72.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. UBS Group set a $80.00 price target on Dominion Energy in a report on Wednesday, August 19th. Finally, Jefferies Financial Group upgraded Dominion Energy from a "hold" rating to a "buy" rating and lifted their price objective for the company from $65.00 to $76.00 in a research report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Dominion Energy has a consensus rating of "Hold" and an average price target of $69.79.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $62.44 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.81 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $67.49 and a 200 day simple moving average of $65.86. Dominion Energy Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $72.99. The firm has a market cap of $54.92 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.93 and a beta of 0.64.

Dominion Energy (NYSE:D - Get Free Report) last released its earnings results on Friday, July 31st. The utilities provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.68 by $0.11. The company had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.04 billion. Dominion Energy had a return on equity of 9.62% and a net margin of 13.98%.The business's revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. Sell-side analysts predict that Dominion Energy Inc. will post 3.57 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 20th. Stockholders of record on Friday, September 4th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, September 4th. Dominion Energy's dividend payout ratio (DPR) is 93.03%.

About Dominion Energy

Dominion Energy, Inc is a regulated energy company headquartered in Richmond, Virginia. Through its utility operations, the company generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers, primarily in Virginia and South Carolina.

The company's electric generation portfolio includes nuclear, natural gas, renewable energy and hydroelectric resources. Dominion Energy also operates electric transmission and distribution networks, natural gas distribution systems and related energy infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.