Geode Capital Management LLC Acquires 575,350 Shares of Dominion Energy Inc. $D

Geode Capital Management LLC grew its holdings in Dominion Energy Inc. (NYSE:D) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,725,397 shares of the utilities provider’s stock after acquiring an additional 575,350 shares during the period. Geode Capital Management LLC’s holdings in Dominion Energy were worth $1,112,697,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in D. Wellington Management Group LLP lifted its holdings in Dominion Energy by 19.4% in the 1st quarter. Wellington Management Group LLP now owns 17,744,198 shares of the utilities provider’s stock worth $994,917,000 after purchasing an additional 2,882,252 shares in the last quarter. Nuveen LLC purchased a new position in shares of Dominion Energy in the first quarter worth $96,723,000. AQR Capital Management LLC boosted its position in shares of Dominion Energy by 588.9% during the first quarter. AQR Capital Management LLC now owns 1,974,405 shares of the utilities provider’s stock worth $109,678,000 after acquiring an additional 1,687,819 shares during the last quarter. Vanguard Group Inc. grew its stake 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 acquiring an additional 1,565,459 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Dominion Energy by 12.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,091,155 shares of the utilities provider’s stock valued at $790,092,000 after acquiring an additional 1,552,985 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Insiders Place Their Bets

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

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $60.86 on Friday. The stock has a market cap of $51.97 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.13 and a beta of 0.63. 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 50 day moving average price of $60.37 and a 200-day moving average price of $58.42. Dominion Energy Inc. has a one year low of $48.07 and a one year high of $62.52.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.71 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.Dominion Energy’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. Equities analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 20th. Investors of record on Friday, December 5th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. Dominion Energy’s payout ratio is currently 90.82%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. BMO Capital Markets dropped their price objective on shares of Dominion Energy from $67.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Evercore ISI started coverage on Dominion Energy in a research note on Tuesday, October 7th. They set an “in-line” rating and a $67.00 price target for the company. JPMorgan Chase & Co. raised 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. BTIG Research assumed coverage on shares of Dominion Energy in a report on Wednesday, October 22nd. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company assumed coverage on shares of Dominion Energy in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 price target on the stock. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Dominion Energy presently has an average rating of “Hold” and an average price target of $64.22.

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.