Bay Rivers Group Sells 19,326 Shares of Dominion Energy Inc. $D

Key Points

• Bay Rivers Group reduced its ownership of Dominion Energy by 69.1%, selling 19,326 shares to hold 8,629 shares worth $488,000.
• Dominion Energy's CEO, Robert M. Blue, purchased 4,152 shares at an average price of $60.35, increasing his holdings to 161,237 shares valued at $9.73 million.
• The company plans to pay a quarterly dividend of $0.6675 on September 20th, representing a 4.4% dividend yield based on a payout ratio of 92.07%.

Bay Rivers Group cut its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 69.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,629 shares of the utilities provider's stock after selling 19,326 shares during the period. Bay Rivers Group's holdings in Dominion Energy were worth $488,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in D. Orion Capital Management LLC purchased a new stake in Dominion Energy during the 4th quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in Dominion Energy during the 4th quarter valued at $27,000. AlphaQuest LLC purchased a new stake in Dominion Energy during the 1st quarter valued at $27,000. VSM Wealth Advisory LLC purchased a new stake in Dominion Energy during the 1st quarter valued at $28,000. Finally, Dagco Inc. purchased a new stake in shares of Dominion Energy in the 1st quarter worth $31,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 0.3%

Dominion Energy stock traded up $0.19 during midday trading on Friday, reaching $59.93. The stock had a trading volume of 9,144,823 shares, compared to its average volume of 4,843,721. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. Dominion Energy Inc. has a 52-week low of $48.07 and a 52-week high of $62.46. The firm has a market cap of $51.15 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.30 and a beta of 0.60. The company has a fifty day moving average of $59.68 and a 200 day moving average of $56.54.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share 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 firm had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.73 billion. During the same period last year, the company earned $0.65 earnings per share. The business's revenue for the quarter 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, analysts anticipate that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.5%. Dominion Energy's dividend payout ratio (DPR) is 92.07%.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue bought 4,152 shares of Dominion Energy stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average cost of $60.35 per share, with a total value of $250,573.20. Following the completion of the transaction, the chief executive officer owned 161,237 shares in the company, valued at $9,730,652.95. The trade was a 2.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

D has been the subject of several analyst reports. Morgan Stanley reduced their price objective on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. upped their price objective on Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $59.83.

Dominion Energy Profile

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.