State of Michigan Retirement System Increases Stock Holdings in Dominion Energy Inc. $D

State of Michigan Retirement System lifted its stake in shares of Dominion Energy Inc. (NYSE:D) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 250,867 shares of the utilities provider’s stock after buying an additional 8,000 shares during the quarter. State of Michigan Retirement System’s holdings in Dominion Energy were worth $14,179,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of D. Wellington Management Group LLP increased its holdings in Dominion Energy by 19.4% during the 1st quarter. Wellington Management Group LLP now owns 17,744,198 shares of the utilities provider’s stock worth $994,917,000 after purchasing an additional 2,882,252 shares during the last quarter. Nuveen LLC purchased a new stake in Dominion Energy during the 1st quarter worth approximately $96,723,000. AQR Capital Management LLC increased its holdings in Dominion Energy by 588.9% during the 1st quarter. AQR Capital Management LLC now owns 1,974,405 shares of the utilities provider’s stock worth $109,678,000 after purchasing an additional 1,687,819 shares during the last quarter. Vanguard Group Inc. increased its holdings in Dominion Energy by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider’s stock worth $5,106,823,000 after purchasing an additional 1,565,459 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Dominion Energy by 12.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,091,155 shares of the utilities provider’s stock worth $790,092,000 after purchasing an additional 1,552,985 shares during the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of D opened at $58.73 on Monday. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $62.52. The firm has a market cap of $50.12 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 2.13 and a beta of 0.62. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. The stock has a 50 day moving average of $60.22 and a 200-day moving average of $58.03.

Dominion Energy (NYSE:D) last released its quarterly earnings data 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. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. As a group, analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 20th. Investors of record on Friday, December 5th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, December 5th. This represents a $2.67 dividend on an annualized basis and a yield of 4.5%. Dominion Energy’s payout ratio is currently 90.82%.

Insider Transactions at Dominion Energy

In related news, CEO Robert M. Blue acquired 4,152 shares of Dominion Energy stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 161,237 shares of the company’s stock, valued at $9,730,652.95. This trade represents a 2.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

D has been the topic of several analyst reports. BTIG Research initiated coverage on Dominion Energy in a report on Wednesday, October 22nd. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Dominion Energy from $56.00 to $59.00 and gave the stock an “underweight” rating in a report on Thursday, August 21st. Barclays lifted their target price on Dominion Energy from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Morgan Stanley lifted their target price on Dominion Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company initiated coverage on Dominion Energy in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.78.

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.