Bank of New York Mellon Corp Lowers Holdings in Dominion Energy Inc. $D

Bank of New York Mellon Corp lowered its position in shares of Dominion Energy Inc. (NYSE:D) by 10.8% in the third quarter, Holdings Channel reports. The institutional investor owned 12,199,225 shares of the utilities provider’s stock after selling 1,483,192 shares during the period. Bank of New York Mellon Corp’s holdings in Dominion Energy were worth $746,227,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mystic Asset Management Inc. boosted its stake in shares of Dominion Energy by 5.8% in the third quarter. Mystic Asset Management Inc. now owns 7,297 shares of the utilities provider’s stock valued at $446,000 after buying an additional 400 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Dominion Energy by 220.6% during the 3rd quarter. Federated Hermes Inc. now owns 11,259 shares of the utilities provider’s stock worth $689,000 after purchasing an additional 7,747 shares in the last quarter. Truist Financial Corp grew its stake in shares of Dominion Energy by 0.7% during the 3rd quarter. Truist Financial Corp now owns 340,283 shares of the utilities provider’s stock worth $20,815,000 after purchasing an additional 2,310 shares during the period. AGP Franklin LLC increased its holdings in shares of Dominion Energy by 1.7% in the 3rd quarter. AGP Franklin LLC now owns 57,210 shares of the utilities provider’s stock valued at $3,500,000 after purchasing an additional 952 shares in the last quarter. Finally, Principle Wealth Partners LLC boosted its holdings in Dominion Energy by 4.1% during the third quarter. Principle Wealth Partners LLC now owns 58,663 shares of the utilities provider’s stock worth $3,588,000 after buying an additional 2,294 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Down 0.7%

Shares of NYSE:D opened at $60.72 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.84 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $51.85 billion, a P/E ratio of 20.65, a P/E/G ratio of 1.66 and a beta of 0.72. Dominion Energy Inc. has a 52-week low of $48.07 and a 52-week high of $62.87. The stock’s fifty day simple moving average is $59.68 and its 200-day simple moving average is $59.97.

Dominion Energy (NYSE:D) last announced its earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.71 billion. Dominion Energy had a net margin of 16.17% and a return on equity of 9.60%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. As a group, equities research analysts forecast 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 Friday, March 20th. Investors of record on Friday, February 27th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, February 27th. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. Dominion Energy’s dividend payout ratio (DPR) is 90.82%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays dropped their target price on shares of Dominion Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of Dominion Energy in a report on Tuesday, October 28th. Morgan Stanley upped their target price on Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company cut their price target on Dominion Energy from $67.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Dominion Energy from $62.00 to $59.00 and set an “underweight” rating on the stock in a research note on Thursday, December 11th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $64.33.

Dominion Energy Company 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.