Zimmer Partners LP Boosts Holdings in Dominion Energy Inc. $D

Key Points

• Zimmer Partners LP increased its stake in Dominion Energy Inc. by 28.8%, owning 1,728,500 shares and making it the firm's 18th largest position.
• Insider activity includes CEO Robert M. Blue purchasing 4,152 shares, increasing his holdings to approximately $9.73 million.
• Analysts maintain an average rating of "Hold" for Dominion Energy, with price targets adjusted by firms such as JPMorgan Chase and Morgan Stanley.

Zimmer Partners LP lifted its position in Dominion Energy Inc. (NYSE:D - Free Report) by 28.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,728,500 shares of the utilities provider's stock after purchasing an additional 386,710 shares during the period. Dominion Energy comprises approximately 1.8% of Zimmer Partners LP's portfolio, making the stock its 18th biggest holding. Zimmer Partners LP owned about 0.20% of Dominion Energy worth $96,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of Dominion Energy in the first quarter worth approximately $27,000. Orion Capital Management LLC bought a new position in shares of Dominion Energy in the fourth quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new position in shares of Dominion Energy in the first quarter worth approximately $28,000. Park Square Financial Group LLC bought a new position in shares of Dominion Energy in the fourth quarter worth approximately $27,000. Finally, Dagco Inc. bought a new position in shares of Dominion Energy in the first quarter worth approximately $31,000. Institutional investors own 73.04% of the company's stock.

Insider Activity at Dominion Energy

In other Dominion Energy 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 acquisition, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on D. Morgan Stanley cut their price target on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Dominion Energy presently has a consensus rating of "Hold" and an average target price of $59.57.

Dominion Energy Stock Up 0.1%

Shares of D stock traded up $0.08 during mid-day trading on Friday, reaching $60.09. 3,979,374 shares of the company's stock traded hands, compared to its average volume of 4,480,437. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $62.46. The company has a market cap of $51.28 billion, a P/E ratio of 20.72, a P/E/G ratio of 1.30 and a beta of 0.60. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The company's 50-day moving average price is $59.41 and its 200-day moving average price is $56.41.

Dominion Energy (NYSE:D - Get Free Report) last announced its 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). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm posted $0.65 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, equities analysts expect 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. Stockholders of record on Friday, September 5th will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, September 5th. Dominion Energy's payout ratio is 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.