Patten & Patten Inc. TN Raises Stock Holdings in Dominion Energy Inc. $D

Patten & Patten Inc. TN boosted its position in Dominion Energy Inc. (NYSE:D) by 16.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 30,681 shares of the utilities provider’s stock after buying an additional 4,221 shares during the period. Patten & Patten Inc. TN’s holdings in Dominion Energy were worth $1,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Teachers Retirement System increased its holdings in Dominion Energy by 0.7% in the second quarter. New York State Teachers Retirement System now owns 647,467 shares of the utilities provider’s stock valued at $36,595,000 after buying an additional 4,698 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in Dominion Energy by 15.0% in the second quarter. Rosenberg Matthew Hamilton now owns 3,160 shares of the utilities provider’s stock valued at $179,000 after buying an additional 411 shares during the last quarter. Mutual Advisors LLC increased its holdings in Dominion Energy by 3.8% in the second quarter. Mutual Advisors LLC now owns 8,558 shares of the utilities provider’s stock valued at $503,000 after buying an additional 315 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in Dominion Energy by 49.4% in the second quarter. Generali Asset Management SPA SGR now owns 34,790 shares of the utilities provider’s stock valued at $1,966,000 after buying an additional 11,505 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new stake in Dominion Energy in the second quarter valued at about $236,000. 73.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on D shares. JPMorgan Chase & Co. boosted their price objective on Dominion Energy from $56.00 to $59.00 and gave the company an “underweight” rating in a report on Thursday, August 21st. Evercore ISI initiated coverage on Dominion Energy in a report on Tuesday, October 7th. They set an “in-line” rating and a $67.00 target price for the company. Barclays upped their target price on Dominion Energy from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Morgan Stanley lowered their target price on Dominion Energy from $64.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dominion Energy in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.00.

Dominion Energy Stock Performance

Shares of D stock opened at $60.65 on Friday. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $62.52. The firm has a market capitalization of $51.76 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62. The business has a 50 day simple moving average of $60.46 and a 200 day simple moving average of $57.37. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. On average, equities research analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 20th. Investors of record on Friday, September 5th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, September 5th. Dominion Energy’s dividend payout ratio is 92.07%.

Insider Transactions at Dominion Energy

In other news, CEO Robert M. Blue bought 4,152 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was purchased at an average cost of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the transaction, the chief executive officer directly owned 161,237 shares of the company’s stock, valued at approximately $9,730,652.95. This trade represents a 2.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

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.