Dominion Energy Inc. $D Shares Sold by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lessened its stake in Dominion Energy Inc. (NYSE:D) by 9.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,969 shares of the utilities provider’s stock after selling 1,532 shares during the period. Sovereign Financial Group Inc.’s holdings in Dominion Energy were worth $790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Patton Fund Management Inc. acquired a new position in Dominion Energy during the 2nd quarter worth approximately $235,000. Sowell Financial Services LLC acquired a new position in Dominion Energy during the 1st quarter worth approximately $314,000. QRG Capital Management Inc. increased its position in Dominion Energy by 13.8% during the 1st quarter. QRG Capital Management Inc. now owns 8,971 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 1,087 shares during the period. Farther Finance Advisors LLC increased its position in Dominion Energy by 114.8% during the 1st quarter. Farther Finance Advisors LLC now owns 12,089 shares of the utilities provider’s stock worth $680,000 after purchasing an additional 6,462 shares during the period. Finally, Bessemer Group Inc. increased its position in Dominion Energy by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 9,394 shares of the utilities provider’s stock worth $527,000 after purchasing an additional 616 shares during the period. Institutional investors and hedge funds own 73.04% of the company’s stock.

Insider Buying and Selling at Dominion Energy

In other Dominion Energy news, CEO Robert M. Blue purchased 4,152 shares of Dominion Energy stock in a transaction on Wednesday, August 27th. The shares were bought at an average price of $60.35 per share, with a total value of $250,573.20. Following the purchase, the chief executive officer directly owned 161,237 shares in the company, valued at $9,730,652.95. This trade represents a 2.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on D. Evercore ISI began coverage on Dominion Energy in a research note on Tuesday, October 7th. They set an “in-line” rating and a $67.00 price target on the stock. Barclays boosted their price target on Dominion Energy from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Morgan Stanley decreased their price target on Dominion Energy from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dominion Energy in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Dominion Energy from $56.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.00.

Dominion Energy Price Performance

D stock opened at $60.92 on Friday. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.46. 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’s 50 day moving average price is $60.46 and its 200 day moving average price is $57.21. The firm has a market cap of $51.99 billion, a P/E ratio of 21.01, a PEG ratio of 1.32 and a beta of 0.62.

Dominion Energy (NYSE:D) last posted its earnings results 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). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the company posted $0.65 EPS. Dominion Energy’s quarterly revenue was up 9.3% compared to the same quarter last year. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, sell-side analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 20th. Shareholders of record on Friday, September 5th were paid 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 of this dividend was Friday, September 5th. Dominion Energy’s dividend payout ratio is currently 92.07%.

Dominion Energy Company 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.