General American Investors Co. Inc. Sells 145,000 Shares of Dominion Energy Inc. $D

General American Investors Co. Inc. lessened its position in Dominion Energy Inc. (NYSE:D) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,000 shares of the utilities provider’s stock after selling 145,000 shares during the period. General American Investors Co. Inc.’s holdings in Dominion Energy were worth $8,775,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bryn Mawr Trust Advisors LLC bought a new position in shares of Dominion Energy during the second quarter valued at $7,346,000. Ausbil Investment Management Ltd acquired a new position in shares of Dominion Energy during the second quarter worth $4,603,000. Florida Trust Wealth Management Co grew its stake in shares of Dominion Energy by 51.6% in the second quarter. Florida Trust Wealth Management Co now owns 67,185 shares of the utilities provider’s stock worth $4,588,000 after purchasing an additional 22,870 shares during the last quarter. Compass Financial Management LLC bought a new stake in shares of Dominion Energy in the second quarter worth $1,141,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Dominion Energy in the second quarter valued at $7,645,000. 73.04% of the stock is currently owned by institutional investors.

Trending Headlines about Dominion Energy

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: Dominion and NextEra have offered additional customer protections as Virginia’s review advances. The concessions could help move the merger forward, though approval is not assured. NextEra, Dominion strengthen proposed merger with additional customer protections
• Positive Sentiment: Loudoun County approved a Dominion substation despite lingering concerns, supporting the company’s ability to expand infrastructure for growing electricity demand, including from data centers. Loudoun approves Dominion substation despite lingering concerns
• Positive Sentiment: Recent offshore-wind progress and increased contracted data-center capacity could support future earnings and cash flows. Dominion’s strong three-year share-price performance, however, raises the bar for continued earnings growth. Dominion Energy (D) Stock Looks In Line Following Offshore Wind Progress
• Neutral Sentiment: Public hearings on the merger are underway, with debate focused on customer costs and protections. The outcome may affect both the transaction’s prospects and the regulatory framework for utilities serving fast-growing power demand. Packed SCC hearing draws strong opinions over proposed Energy merger
• Negative Sentiment: Dominion and NextEra accepted some proposed merger protections but rejected a rate and staffing freeze. That stance could fuel opposition and leave uncertainty over whether regulators will approve the deal and on what terms. Dominion-NextEra accept some proposed protections in Va. merger case, rejects rate and staffing freeze
• Negative Sentiment: Families are pushing back against a proposed Dominion transmission-line project, creating potential permitting or construction delays for planned infrastructure. Families push back against proposed Dominion Energy Transmission Line Project

Analyst Ratings Changes

Several brokerages recently issued reports on D. Scotiabank lowered their target price on Dominion Energy from $67.00 to $63.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 30th. Truist Financial decreased their price target on Dominion Energy from $66.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Wells Fargo & Company upgraded Dominion Energy to a “strong-buy” rating in a research report on Thursday, September 24th. BMO Capital Markets lifted their price objective on Dominion Energy from $64.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Dominion Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.33.

Dominion Energy Trading Down 1.5%

NYSE D traded down $1.06 during trading hours on Friday, hitting $68.58. 3,569,861 shares of the company’s stock were exchanged, compared to its average volume of 4,398,178. The stock has a 50-day simple moving average of $63.95 and a 200 day simple moving average of $64.98. Dominion Energy Inc. has a 1-year low of $55.85 and a 1-year high of $72.99. The firm has a market cap of $60.32 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 3.14 and a beta of 0.62. The company has a current ratio of 0.88, a quick ratio of 0.64 and a debt-to-equity ratio of 1.46.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, October 30th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The firm had revenue of $5.62 billion for the quarter, compared to analyst estimates of $4.90 billion. Dominion Energy had a return on equity of 10.09% and a net margin of 13.99%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 earnings per share. On average, equities analysts forecast that Dominion Energy Inc. will post 3.59 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 20th. Investors of record on Friday, December 4th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $2.67 annualized dividend and a yield of 3.9%. Dominion Energy’s dividend payout ratio is currently 88.70%.

About Dominion Energy

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.

Dominion traces its roots to 1909 and adopted the Dominion Energy name in 2017.