R Squared Ltd Makes New $1.04 Million Investment in Dominion Energy Inc. $D

R Squared Ltd bought a new position in shares of Dominion Energy Inc. (NYSE:D) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,186 shares of the utilities provider’s stock, valued at approximately $1,040,000. Dominion Energy makes up about 0.5% of R Squared Ltd’s holdings, making the stock its 26th biggest holding.

A number of other hedge funds have also modified their holdings of D. Terril Brothers Inc. purchased a new position in Dominion Energy in the 3rd quarter worth approximately $403,000. Fifth Third Bancorp boosted its holdings in shares of Dominion Energy by 4.3% during the 3rd quarter. Fifth Third Bancorp now owns 244,812 shares of the utilities provider’s stock worth $14,816,000 after purchasing an additional 10,027 shares during the last quarter. Maryland State Retirement & Pension System grew its position in shares of Dominion Energy by 12.7% in the third quarter. Maryland State Retirement & Pension System now owns 53,647 shares of the utilities provider’s stock valued at $3,247,000 after purchasing an additional 6,052 shares in the last quarter. UNIVEST FINANCIAL Corp grew its position in shares of Dominion Energy by 12.0% in the third quarter. UNIVEST FINANCIAL Corp now owns 3,532 shares of the utilities provider’s stock valued at $214,000 after purchasing an additional 378 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its position in shares of Dominion Energy by 5.3% in the third quarter. Joel Isaacson & Co. LLC now owns 11,477 shares of the utilities provider’s stock valued at $695,000 after purchasing an additional 576 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

NYSE:D opened at $67.51 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.88 and a quick ratio of 0.69. The firm has a market capitalization of $59.38 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 3.16 and a beta of 0.62. The company’s 50-day moving average is $64.12 and its two-hundred day moving average is $65.14. Dominion Energy Inc. has a 1-year low of $55.85 and a 1-year high of $72.99.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, October 30th. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $5.62 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Dominion Energy had a net margin of 13.99% and a return on equity of 10.09%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 EPS. Analysts forecast that Dominion Energy Inc. will post 3.59 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 20th. Investors of record on Friday, December 4th will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, December 4th. Dominion Energy’s dividend payout ratio is presently 88.70%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BMO Capital Markets increased their price target on Dominion Energy from $64.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, July 22nd. Scotiabank lowered their price objective on Dominion Energy from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 30th. Jefferies Financial Group dropped their target price on Dominion Energy from $79.00 to $71.00 and set a “buy” rating for the company in a report on Monday, September 21st. TD Cowen upgraded Dominion Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $69.00 to $80.00 in a report on Wednesday, August 19th. Finally, Morgan Stanley cut their target price on Dominion Energy from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Dominion Energy currently has an average rating of “Hold” and an average target price of $69.33.

Key Dominion Energy News

Investors following D have been watching these news items:

• Neutral Sentiment: The proposed $67 billion Dominion–NextEra merger is drawing public feedback in South Carolina, including at a Public Service Commission hearing. The hearings are part of the review process; the reports do not indicate a decision on the deal. Article: Proposed $67B Dominion-NextEra merger prompts North Charleston customers to weigh in
• Negative Sentiment: Virginia Governor-elect Abigail Spanberger said assurances alone are insufficient on the merger, signaling that consumer protections and evidence will be closely scrutinized. This adds to uncertainty around the deal’s path to approval. Article: Spanberger says “Trust us” won’t cut it on Dominion merger
• Negative Sentiment: Dominion is seeking another rate increase as lawmakers hold an energy town hall. While approval could support utility revenues, the request may heighten affordability concerns and public or regulatory resistance. Article: Dominion seeks another rate hike as lawmakers hold energy town hall

Dominion Energy Profile

Dominion Energy, Inc. (NYSE: D) is an energy company focused primarily on regulated electric and natural gas utility services. Its businesses generate, transmit and distribute electricity and deliver natural gas to residential, commercial and industrial customers. The company’s electric utility operations serve customers in Virginia and northeastern North Carolina, as well as parts of South Carolina through Dominion Energy South Carolina. Its power portfolio includes nuclear, natural gas, solar and other energy sources.