Drive Wealth Management LLC Purchases New Shares in Dominion Energy Inc. $D

Drive Wealth Management LLC purchased a new stake in Dominion Energy Inc. (NYSE:D) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 3,596 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Schnieders Capital Management LLC lifted its position in Dominion Energy by 9.5% during the second quarter. Schnieders Capital Management LLC now owns 124,573 shares of the utilities provider’s stock worth $7,041,000 after purchasing an additional 10,775 shares during the period. Crewe Advisors LLC lifted its position in Dominion Energy by 11.8% during the second quarter. Crewe Advisors LLC now owns 1,797 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 189 shares during the period. Stephens Inc. AR lifted its position in Dominion Energy by 1.8% during the second quarter. Stephens Inc. AR now owns 94,813 shares of the utilities provider’s stock worth $5,359,000 after purchasing an additional 1,686 shares during the period. Beverly Hills Private Wealth LLC lifted its position in Dominion Energy by 13.2% during the second quarter. Beverly Hills Private Wealth LLC now owns 32,266 shares of the utilities provider’s stock worth $1,824,000 after purchasing an additional 3,755 shares during the period. Finally, Balboa Wealth Partners lifted its position in Dominion Energy by 15.3% during the second quarter. Balboa Wealth Partners now owns 4,594 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 610 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue acquired 4,152 shares of Dominion Energy stock in a transaction dated Wednesday, August 27th. The stock was bought at an average price of $60.35 per share, with a total value of $250,573.20. Following 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

Dominion Energy Stock Performance

NYSE:D opened at $60.85 on Wednesday. The company has a market capitalization of $51.93 billion, a PE ratio of 20.98, a P/E/G ratio of 1.33 and a beta of 0.62. The company has a 50 day simple moving average of $60.43 and a two-hundred day simple moving average of $57.50. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.67. Dominion Energy Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $62.52.

Dominion Energy (NYSE:D) last released its earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Research analysts anticipate that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 20th. Stockholders of record on Friday, September 5th were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.67 annualized dividend and a dividend yield of 4.4%. Dominion Energy’s dividend payout ratio (DPR) is 92.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on D shares. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 21st. Morgan Stanley cut their price objective on shares of Dominion Energy from $64.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dominion Energy in a research report on Wednesday, October 8th. Barclays increased their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Finally, Evercore ISI began coverage on shares of Dominion Energy in a report on Tuesday, October 7th. They issued an “in-line” rating and a $67.00 target price for the company. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $62.00.

Dominion Energy 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.