The Manufacturers Life Insurance Company Reduces Stake in Dominion Energy Inc. $D

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Dominion Energy Inc. by 5.7%, owning approximately 1,316,167 shares worth around $73.8 million after selling 80,025 shares in Q1.
• CEO Robert M. Blue purchased 4,152 shares at an average price of $60.35, increasing his total holdings to about 161,237 shares, valued at approximately $9.7 million.
• Dominion Energy announced a quarterly dividend of $0.6675, representing an annualized dividend yield of 4.5%, with a dividend payout ratio of 92.07%.

The Manufacturers Life Insurance Company lowered its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,316,167 shares of the utilities provider's stock after selling 80,025 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.15% of Dominion Energy worth $73,797,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. Morgan Stanley lowered their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Dominion Energy presently has a consensus rating of "Hold" and a consensus target price of $59.57.

Insider Activity at Dominion Energy

In other Dominion Energy news, CEO Robert M. Blue bought 4,152 shares of Dominion Energy stock in a transaction on Wednesday, August 27th. The stock was acquired at an average price of $60.35 per share, with a total value of $250,573.20. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company's stock.

Dominion Energy Stock Up 0.1%

Shares of NYSE:D opened at $59.89 on Friday. The stock has a fifty day simple moving average of $58.86 and a two-hundred day simple moving average of $56.23. The stock has a market capitalization of $51.11 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.30 and a beta of 0.57. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $62.46. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. 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 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm 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 $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 dividend yield of 4.5%. Dominion Energy's dividend payout ratio (DPR) is presently 92.07%.

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.

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