Massachusetts Financial Services Co. MA Has $1.65 Billion Position in Dominion Energy Inc. $D

Massachusetts Financial Services Co. MA cut its position in Dominion Energy Inc. (NYSE:D) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 29,238,667 shares of the utilities provider’s stock after selling 122,750 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Dominion Energy were worth $1,652,569,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Dominion Energy by 64.3% during the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 3,553 shares during the last quarter. Larson Financial Group LLC lifted its stake in Dominion Energy by 141.6% in the first quarter. Larson Financial Group LLC now owns 1,585 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 929 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Dominion Energy by 6.7% during the first quarter. Victory Capital Management Inc. now owns 642,025 shares of the utilities provider’s stock valued at $35,998,000 after buying an additional 40,127 shares during the period. Cullen Frost Bankers Inc. lifted its position in Dominion Energy by 3.2% during the first quarter. Cullen Frost Bankers Inc. now owns 10,938 shares of the utilities provider’s stock valued at $613,000 after buying an additional 335 shares during the period. Finally, Verdence Capital Advisors LLC increased its stake in Dominion Energy by 4.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Insider Buying and Selling

In other Dominion Energy news, CEO Robert M. Blue acquired 4,152 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the purchase, the chief executive officer directly owned 161,237 shares of the company’s stock, valued at $9,730,652.95. The trade was a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on D shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of Dominion Energy in a research note on Tuesday, October 28th. BMO Capital Markets lowered their price objective on shares of Dominion Energy from $67.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Evercore ISI started coverage on shares of Dominion Energy in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $67.00 price objective on the stock. Wells Fargo & Company started coverage on Dominion Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $67.00 price objective on the stock. Finally, Morgan Stanley upped their target price on Dominion Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.22.

Dominion Energy Stock Down 0.5%

Shares of NYSE D opened at $60.59 on Friday. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $62.52. The stock’s fifty day simple moving average is $60.42 and its two-hundred day simple moving average is $58.47. The stock has a market capitalization of $51.74 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.13 and a beta of 0.63. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Friday, October 31st. The utilities provider reported $1.06 earnings per share for the quarter, topping 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 firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the prior year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. As a group, analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 20th. Shareholders of record on Friday, December 5th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. Dominion Energy’s payout ratio is currently 90.82%.

Dominion Energy Company 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.