Wealth Enhancement Advisory Services LLC Buys 49,282 Shares of Dominion Energy Inc. $D

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Dominion Energy Inc. by 18.5% in Q2, acquiring a total of 315,022 shares valued at approximately $17.91 million.
• Dominion Energy's recent earnings report indicated a miss on EPS estimates, earning $0.75 compared to the expected $0.77, although revenue was up 9.3% year-over-year to $3.81 billion.
• The company recently declared a quarterly dividend of $0.6675 per share, contributing to an annualized dividend yield of 4.5%.

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 18.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 315,022 shares of the utilities provider's stock after purchasing an additional 49,282 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Dominion Energy were worth $17,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 valued at $5,106,823,000 after purchasing an additional 1,565,459 shares in the last quarter. Dodge & Cox grew its position in Dominion Energy by 3.0% during 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 in the last quarter. Wellington Management Group LLP grew its position in Dominion Energy by 19.4% during 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 in the last quarter. Bank of New York Mellon Corp grew its position 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 acquiring an additional 939,835 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew 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 worth $790,092,000 after acquiring an additional 1,552,985 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on D. Morgan Stanley decreased 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 research 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 stock an "underweight" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $59.83.

Dominion Energy Price Performance

Shares of D stock traded up $0.88 during mid-day trading on Tuesday, reaching $60.70. The company's stock had a trading volume of 1,774,774 shares, compared to its average volume of 5,277,438. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $62.46. The company has a market cap of $51.81 billion, a P/E ratio of 20.93, a PEG ratio of 1.30 and a beta of 0.60. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.67. The firm's 50-day moving average is $59.74 and its two-hundred day moving average is $56.61.

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 business had revenue of $3.81 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, research analysts predict that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

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

Insider Activity

In other news, CEO Robert M. Blue bought 4,152 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was acquired at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the transaction, the chief executive officer directly owned 161,237 shares of the company's stock, valued at $9,730,652.95. This trade represents a 2.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by company insiders.

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.