Voleon Capital Management LP Acquires New Holdings in Dominion Energy Inc. $D

Key Points

• Voleon Capital Management LP has acquired 6,965 shares of Dominion Energy Inc., valued at approximately $391,000, marking a new position in the company for the 1st quarter.
• Other institutional investors, such as Wellington Management and AQR Capital Management, have also increased their holdings in Dominion Energy, with institutional ownership reaching 73.04% of the company’s stock.
• Dominion Energy’s CEO, Robert M. Blue, purchased 4,152 shares for around $250,573, indicating increased insider confidence in the company's prospects.

Voleon Capital Management LP purchased a new position in Dominion Energy Inc. (NYSE:D - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,965 shares of the utilities provider's stock, valued at approximately $391,000.

Other hedge funds have also added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new stake in Dominion Energy in the first quarter worth $314,000. QRG Capital Management Inc. increased its position in shares of Dominion Energy by 13.8% in the first quarter. QRG Capital Management Inc. now owns 8,971 shares of the utilities provider's stock valued at $503,000 after acquiring an additional 1,087 shares during the period. Farther Finance Advisors LLC increased its position in shares of Dominion Energy by 114.8% in the first quarter. Farther Finance Advisors LLC now owns 12,089 shares of the utilities provider's stock valued at $680,000 after acquiring an additional 6,462 shares during the period. Bessemer Group Inc. increased its position in shares of Dominion Energy by 7.0% in the first quarter. Bessemer Group Inc. now owns 9,394 shares of the utilities provider's stock valued at $527,000 after acquiring an additional 616 shares during the period. Finally, Golden State Wealth Management LLC increased its position in shares of Dominion Energy by 222.7% in the first quarter. Golden State Wealth Management LLC now owns 910 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 628 shares during the period. 73.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on D. JPMorgan Chase & Co. boosted their price objective on shares of Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research report on Thursday, August 21st. Morgan Stanley decreased their price objective 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 given a Sell rating to the company. According to MarketBeat, Dominion Energy presently has a consensus rating of "Hold" and a consensus price target of $59.57.

Insider Activity

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

Dominion Energy Stock Up 0.6%

D traded up $0.36 during midday trading on Monday, reaching $60.41. The company's stock had a trading volume of 2,081,836 shares, compared to its average volume of 5,256,612. The firm has a market capitalization of $51.55 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.30 and a beta of 0.60. 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 Inc. has a 1 year low of $48.07 and a 1 year high of $62.46. The stock's 50-day moving average is $59.41 and its 200-day moving average is $56.41.

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 for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The business had revenue of $3.81 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. As a group, research analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current 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 paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, September 5th. Dominion Energy's dividend payout ratio is currently 92.07%.

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.