Vanguard Trims Dominion Energy Stake to 9.0%

TL;DR

**Vanguard cut its Dominion Energy stake to 9.0% as of Dec 29, 2023.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership of 70,296,206 shares of Dominion Energy Inc. common stock as of December 29, 2023. This represents a 9.0% stake in the utility company, a slight decrease from its previous reported ownership. This matters to investors because Vanguard is a significant institutional holder, and changes in its position can signal shifts in its investment thesis or passive index rebalancing, potentially influencing stock price movements.

Why It Matters

This filing shows a slight reduction in Vanguard's passive ownership of Dominion Energy, which could be due to index rebalancing or minor portfolio adjustments, but doesn't necessarily signal a bearish outlook.

Risk Assessment

Risk Level: low — The filing indicates a minor adjustment by a passive institutional investor, not a significant change in company fundamentals or a major divestment.

Analyst Insight

Investors should note that this is a routine update from a passive institutional investor. While Vanguard slightly reduced its stake, it still holds a substantial position. This change is unlikely to signal a fundamental shift in Dominion Energy's prospects and is more likely related to index rebalancing. Monitor future filings for more significant changes in institutional ownership.

Key Numbers

• 70,296,206 — Shares Owned (Total number of Dominion Energy common stock shares beneficially owned by The Vanguard Group.)
• 9.0% — Percentage Ownership (The percentage of Dominion Energy's common stock owned by The Vanguard Group as of December 29, 2023.)
• 20240213 — Filing Date (The date The Vanguard Group filed this SC 13G/A amendment.)
• 25746U109 — CUSIP Number (Unique identifier for Dominion Energy Inc. Common Stock.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Dominion Energy Inc. (company) — issuer of the securities
• 70,296,206 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 9.0% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will continue to hold a significant, albeit passively managed, stake in Dominion Energy, reflecting its inclusion in major market indices. (The Vanguard Group) — high confidence, target: 2025-12-31

FAQ

Filing Documents

• tv0051-dominionenergyinc.htm (SC 13G/A) — 11KB
• 0001104659-24-020043.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Dominion Energy Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 120 Tredegar Street Richmond, VA 23219-6111

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 25746U109

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR