AGF Management Ltd. Cuts Position in Dominion Energy Inc. $D

AGF Management Ltd. cut its holdings in Dominion Energy Inc. (NYSE:D) by 80.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,157 shares of the utilities provider’s stock after selling 47,279 shares during the quarter. AGF Management Ltd.’s holdings in Dominion Energy were worth $631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in D. Westside Investment Management Inc. grew its position in shares of Dominion Energy by 123.3% in the second quarter. Westside Investment Management Inc. now owns 469 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 259 shares during the period. AlphaQuest LLC acquired a new position in Dominion Energy during the first quarter worth $27,000. VSM Wealth Advisory LLC purchased a new position in Dominion Energy during the first quarter worth about $28,000. Dagco Inc. purchased a new position in Dominion Energy in the first quarter worth approximately $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Dominion Energy during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on D. Wells Fargo & Company started coverage on Dominion Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 price objective for the company. BMO Capital Markets cut their target price on shares of Dominion Energy from $67.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Dominion Energy in a research report on Wednesday, October 8th. Finally, Barclays increased their price target on shares of Dominion Energy from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Dominion Energy has an average rating of “Hold” and a consensus target price of $64.22.

Dominion Energy Stock Up 0.6%

Shares of Dominion Energy stock opened at $61.22 on Wednesday. Dominion Energy Inc. has a one year low of $48.07 and a one year high of $62.52. The company has a market cap of $52.28 billion, a P/E ratio of 21.11, a PEG 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 firm has a fifty day moving average of $60.28 and a two-hundred day moving average of $58.38.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. On average, 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 declared a quarterly dividend, which will be paid on Saturday, December 20th. Stockholders of record on Friday, December 5th will be given 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, December 5th. Dominion Energy’s dividend payout ratio (DPR) is presently 90.82%.

Insiders Place Their Bets

In other news, CEO Robert M. Blue purchased 4,152 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the transaction, the chief executive officer directly owned 161,237 shares in the company, valued at $9,730,652.95. This represents a 2.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.11% of the company’s stock.

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.