Nykredit A S bought a new stake in shares of Dominion Energy Inc. (NYSE:D – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,676 shares of the utilities provider’s stock, valued at approximately $6,739,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Dominion Energy during the second quarter valued at approximately $7,346,000. Ausbil Investment Management Ltd purchased a new stake in Dominion Energy in the second quarter worth $4,603,000. North Dakota State Investment Board purchased a new stake in Dominion Energy in the fourth quarter worth $1,715,000. Florida Trust Wealth Management Co boosted its holdings in Dominion Energy by 51.6% in the second quarter. Florida Trust Wealth Management Co now owns 67,185 shares of the utilities provider’s stock valued at $4,588,000 after acquiring an additional 22,870 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Dominion Energy in the second quarter valued at $7,645,000. 73.04% of the stock is currently owned by institutional investors.
Dominion Energy Stock Performance
Shares of Dominion Energy stock opened at $65.72 on Friday. Dominion Energy Inc. has a 12 month low of $55.85 and a 12 month high of $72.99. The firm has a market capitalization of $57.80 billion, a P/E ratio of 22.90, a P/E/G ratio of 3.07 and a beta of 0.64. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.43. The business has a fifty day simple moving average of $68.76 and a two-hundred day simple moving average of $65.84.
Dominion Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 20th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.1%. Dominion Energy’s dividend payout ratio (DPR) is currently 93.03%.
Trending Headlines about Dominion Energy
Here are the key news stories impacting Dominion Energy this week:
- Positive Sentiment: Dominion shareholders approved the proposed $66.8 billion all-stock merger with NextEra Energy by an overwhelming margin, with approximately 671.3 million votes in favor. The approval removes a major transaction hurdle and supports the companies’ expected long-term strategic combination. Dominion Energy secures shareholder approval for merger with NextEra
- Neutral Sentiment: A Virginia panel backed a Dominion gas plant that could improve generation capacity and reliability, but the project may add a long-term charge to customers’ electric bills. The potential infrastructure benefit is therefore balanced by affordability concerns. Virginia panel backs Dominion gas plant
- Negative Sentiment: Arlington County plans to intervene in the merger review, citing rising electric bills and seeking greater scrutiny of the transaction. Other advocacy groups and Virginia officials are also requesting answers about how the merger could affect rates, increasing the risk of delays or additional conditions. Arlington to intervene in Dominion-NextEra merger
- Negative Sentiment: Dominion Power proposed a rate increase to recover approximately $922 million in fuel costs. Higher customer bills, repeated outage complaints and opposition to new transmission land acquisitions could intensify political and regulatory pressure on the utility. Dominion Power proposes price hike
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of Dominion Energy from $66.00 to $72.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 19th. Jefferies Financial Group upgraded shares of Dominion Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $65.00 to $76.00 in a research report on Thursday, May 28th. Wall Street Zen downgraded shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Morgan Stanley lowered their price objective on shares of Dominion Energy from $71.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. Finally, Mizuho lifted their price objective on Dominion Energy from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.93.
Check Out Our Latest Report on Dominion Energy
Dominion Energy Profile
Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.
Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.
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