Corebridge Financial Inc. Has $10.51 Million Holdings in Dominion Energy Inc. $D

Key Points

• Corebridge Financial Inc. reduced its stake in Dominion Energy Inc. by 3.0%, holding 187,351 shares valued at $10.51 million after selling 5,710 shares in the first quarter.
• Dominion Energy reported earnings per share of $0.75 for the last quarter, missing estimates by $0.02, despite a year-over-year revenue increase of 9.3%.
• The company will pay a quarterly dividend of $0.6675 on September 20th, representing a 4.4% yield, with a payout ratio of 92.07%.

Corebridge Financial Inc. lowered its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,351 shares of the utilities provider's stock after selling 5,710 shares during the quarter. Corebridge Financial Inc.'s holdings in Dominion Energy were worth $10,505,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Dominion Energy by 64.3% in the 4th quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock worth $489,000 after buying an additional 3,553 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Dominion Energy by 5.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 17,920 shares of the utilities provider's stock worth $965,000 after buying an additional 967 shares in the last quarter. Northern Trust Corp raised its stake in shares of Dominion Energy by 16.7% in the 4th quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock worth $501,759,000 after buying an additional 1,330,459 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Dominion Energy by 26.4% in the 4th quarter. Lido Advisors LLC now owns 26,909 shares of the utilities provider's stock worth $1,449,000 after buying an additional 5,613 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Dominion Energy by 2.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 9,818 shares of the utilities provider's stock worth $529,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

D has been the topic of a number of research reports. JPMorgan Chase & Co. boosted 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. Morgan Stanley dropped their price target on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $59.57.

Dominion Energy Stock Up 0.1%

NYSE D traded up $0.08 on Monday, reaching $59.89. The stock had a trading volume of 4,254,041 shares, compared to its average volume of 4,851,146. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 1.30 and a beta of 0.60. The business has a 50 day moving average price of $58.86 and a 200 day moving average price of $56.22. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.46. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35.

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

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 annualized dividend and a yield of 4.5%. Dominion Energy's dividend payout ratio is 92.07%.

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.