Dominion Energy Inc. $D Shares Purchased by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC increased its stake in Dominion Energy Inc. by 28.7%, acquiring 63,898 additional shares, bringing total holdings to 286,253 shares valued at $16.18 million.
• Several other institutional investors have also raised their stakes in Dominion Energy recently, with a combined ownership of 73.04% held by institutional investors and hedge funds.
• Analysts currently hold an average rating of "Hold" for Dominion Energy, with price targets ranging from $56.00 to $62.00 and a reported net margin of 16.45% for the last quarter.

Wedge Capital Management L L P NC grew its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 28.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,253 shares of the utilities provider's stock after buying an additional 63,898 shares during the quarter. Wedge Capital Management L L P NC's holdings in Dominion Energy were worth $16,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Private Client Services LLC raised its holdings in shares of Dominion Energy by 3.1% in the second quarter. Private Client Services LLC now owns 6,234 shares of the utilities provider's stock valued at $352,000 after acquiring an additional 188 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Dominion Energy by 3.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock valued at $338,000 after purchasing an additional 193 shares during the period. Centre Asset Management LLC raised its stake in shares of Dominion Energy by 3.3% during the 1st quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock worth $350,000 after buying an additional 198 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in Dominion Energy by 1.1% in the 1st quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock valued at $1,022,000 after purchasing an additional 202 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of Dominion Energy by 4.6% in the 1st quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock worth $263,000 after acquiring an additional 208 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

NYSE:D traded up $0.19 during mid-day trading on Friday, hitting $59.93. The stock had a trading volume of 9,144,823 shares, compared to its average volume of 5,071,238. The company's 50 day simple moving average is $59.68 and its 200 day simple moving average is $56.58. 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 stock has a market cap of $51.15 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.30 and a beta of 0.60. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $62.46.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, equities research analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, September 20th. Stockholders of record on Friday, September 5th were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, September 5th. Dominion Energy's dividend payout ratio (DPR) is currently 92.07%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on D shares. Morgan Stanley decreased their price objective 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. JPMorgan Chase & Co. increased their price target on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Dominion Energy presently has an average rating of "Hold" and a consensus price target of $59.83.

Insider Transactions at Dominion Energy

In related news, CEO Robert M. Blue purchased 4,152 shares of Dominion Energy stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average cost of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the purchase, the chief executive officer directly owned 161,237 shares of the company's stock, valued at $9,730,652.95. The trade was a 2.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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.