Profund Advisors LLC Increases Stake in Dominion Energy Inc. $D

Profund Advisors LLC raised its holdings in shares of Dominion Energy Inc. (NYSE:D) by 29.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,871 shares of the utilities provider’s stock after acquiring an additional 9,785 shares during the quarter. Profund Advisors LLC’s holdings in Dominion Energy were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Future Fund LLC lifted its position in Dominion Energy by 10.2% during the second quarter. Future Fund LLC now owns 16,102 shares of the utilities provider’s stock valued at $910,000 after purchasing an additional 1,495 shares in the last quarter. Midwest Trust Co purchased a new position in shares of Dominion Energy during the 2nd quarter valued at about $2,385,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Dominion Energy during the 2nd quarter valued at about $4,606,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Dominion Energy by 8.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,626,030 shares of the utilities provider’s stock valued at $91,903,000 after acquiring an additional 126,929 shares during the period. Finally, Aviva PLC increased its holdings in Dominion Energy by 124.1% in the 2nd quarter. Aviva PLC now owns 1,314,778 shares of the utilities provider’s stock worth $74,311,000 after acquiring an additional 728,080 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of Dominion Energy in a research report on Tuesday, October 28th. BMO Capital Markets dropped their target price 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. Wells Fargo & Company assumed coverage on Dominion Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 price target for the company. Finally, 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. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.22.

Insider Buying and Selling

In other news, CEO Robert M. Blue purchased 4,152 shares of the business’s stock in a transaction on 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 acquisition, the chief executive officer directly owned 161,237 shares of the company’s stock, valued at $9,730,652.95. This represents a 2.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Dominion Energy Price Performance

Shares of NYSE:D opened at $60.92 on Tuesday. 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 price of $60.24 and a 200 day moving average price of $58.33. Dominion Energy Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $62.52. The firm has a market cap of $52.03 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.13 and a beta of 0.63.

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

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 20th. Investors of record on Friday, December 5th will be given a $0.6675 dividend. 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 payout ratio is currently 90.82%.

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.