abrdn plc Boosts Holdings in Dominion Energy, Inc. (NYSE:D)

abrdn plc grew its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 72.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 344,173 shares of the utilities provider’s stock after acquiring an additional 144,761 shares during the quarter. abrdn plc’s holdings in Dominion Energy were worth $16,176,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock worth $1,045,051,000 after purchasing an additional 1,928,823 shares during the last quarter. Magellan Asset Management Ltd grew its holdings in shares of Dominion Energy by 53.1% in the third quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock worth $199,800,000 after purchasing an additional 1,551,611 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Dominion Energy by 12.0% in the third quarter. Federated Hermes Inc. now owns 7,536,507 shares of the utilities provider’s stock worth $336,656,000 after purchasing an additional 805,570 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after purchasing an additional 803,341 shares during the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

D has been the topic of several recent analyst reports. Mizuho cut their target price on shares of Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Barclays cut their price target on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. StockNews.com cut shares of Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Bank of America lifted their price target on shares of Dominion Energy from $40.00 to $43.00 and gave the company an “underperform” rating in a report on Tuesday. Finally, BMO Capital Markets cut shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a report on Monday, March 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.10.

Dominion Energy Stock Performance

Shares of D stock opened at $51.25 on Thursday. The company’s fifty day moving average price is $47.97 and its 200-day moving average price is $46.28. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The stock has a market cap of $42.93 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 2.00 and a beta of 0.61. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $57.90.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm posted $1.06 EPS. Dominion Energy’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, equities analysts expect that Dominion Energy, Inc. will post 2.84 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is 114.59%.

Insiders Place Their Bets

In other news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph M. Rigby purchased 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the purchase, the director now owns 8,417 shares in the company, valued at $395,093.98. The disclosure for this purchase can be found here. 0.14% of the stock is owned by insiders.

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.