Assenagon Asset Management S.A. Has $9.79 Million Stake in Dominion Energy, Inc. (NYSE:D)

Posted by Defense World Staff on Jul 2nd, 2023

Assenagon Asset Management S.A. lowered its position in Dominion Energy, Inc. (NYSE:D – Free Report) by 54.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,101 shares of the utilities provider’s stock after selling 208,874 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Dominion Energy were worth $9,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its position in Dominion Energy by 93,554.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,865,509 shares of the utilities provider’s stock valued at $604,953,000 after purchasing an additional 9,854,975 shares during the period. Norges Bank acquired a new stake in Dominion Energy during the 4th quarter valued at approximately $332,276,000. Vanguard Group Inc. increased its position in Dominion Energy by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 73,953,046 shares of the utilities provider’s stock valued at $5,110,895,000 after purchasing an additional 2,767,626 shares during the period. Price T Rowe Associates Inc. MD increased its position in Dominion Energy by 9.9% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 30,771,075 shares of the utilities provider’s stock valued at $2,126,590,000 after purchasing an additional 2,763,501 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Dominion Energy by 197.1% during the 4th quarter. Point72 Asset Management L.P. now owns 3,807,950 shares of the utilities provider’s stock valued at $233,503,000 after purchasing an additional 2,526,350 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Insider Activity at Dominion Energy

In related news, COO Diane Leopold sold 6,250 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $49.16, for a total value of $307,250.00. Following the completion of the sale, the chief operating officer now directly owns 100,115 shares of the company’s stock, valued at approximately $4,921,653.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on D. The Goldman Sachs Group started coverage on shares of Dominion Energy in a research report on Wednesday, June 7th. They set a “neutral” rating for the company. 51job restated a “maintains” rating on shares of Dominion Energy in a report on Friday, June 9th. JPMorgan Chase & Co. cut their price target on Dominion Energy from $63.00 to $55.00 in a report on Friday, June 9th. UBS Group cut their price target on Dominion Energy from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, March 7th. Finally, Morgan Stanley increased their price target on Dominion Energy from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.55.

Dominion Energy Price Performance

Shares of D opened at $51.79 on Friday. Dominion Energy, Inc. has a 12-month low of $48.47 and a 12-month high of $86.28. The business’s fifty day moving average is $53.35 and its 200 day moving average is $56.83. The company has a quick ratio of 0.62, a current ratio of 0.75 and a debt-to-equity ratio of 1.50. The stock has a market cap of $43.29 billion, a P/E ratio of 36.22, a P/E/G ratio of 0.69 and a beta of 0.44.

Dominion Energy (NYSE:D – Free Report) last released its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $4.46 billion. Dominion Energy had a return on equity of 12.67% and a net margin of 7.05%. Dominion Energy’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. Sell-side analysts anticipate that Dominion Energy, Inc. will post 3.74 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Friday, June 2nd were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend was Thursday, June 1st. Dominion Energy’s payout ratio is currently 186.71%.

Dominion Energy Profile

(Free Report)

Dominion Energy, Inc engages in the production and distribution of energy. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets, and Corporate and Other. The Corporate and Other segment focuses on corporate, service company, non-controlling interest in Dominion privatization, and non-regulated retail energy marketing operations.