Leo Wealth LLC Cuts Position in Dominion Energy Inc. $D

Key Points

• Leo Wealth LLC significantly reduced its stake in Dominion Energy Inc. by 85.5% during Q2, now holding only 3,857 shares valued at $218,000.
• Several institutional investors made adjustments to their positions in Dominion Energy, with notable increases from Maryland State Retirement & Pension System and Bar Harbor Wealth Management.
• The company recently announced a quarterly dividend of $0.6675 per share, representing a 4.4% yield, with a high dividend payout ratio of 92.07%.

Leo Wealth LLC decreased its position in Dominion Energy Inc. (NYSE:D - Free Report) by 85.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,857 shares of the utilities provider's stock after selling 22,740 shares during the quarter. Leo Wealth LLC's holdings in Dominion Energy were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Armstrong Fleming & Moore Inc purchased a new stake in Dominion Energy in the second quarter valued at approximately $212,000. Maryland State Retirement & Pension System raised its position in Dominion Energy by 5.9% in the second quarter. Maryland State Retirement & Pension System now owns 41,481 shares of the utilities provider's stock valued at $2,345,000 after purchasing an additional 2,303 shares during the period. Optas LLC purchased a new stake in Dominion Energy in the second quarter valued at approximately $334,000. Bar Harbor Wealth Management increased its position in shares of Dominion Energy by 22.0% during the second quarter. Bar Harbor Wealth Management now owns 53,165 shares of the utilities provider's stock worth $3,005,000 after acquiring an additional 9,594 shares during the period. Finally, NBT Bank N A NY increased its position in shares of Dominion Energy by 10.8% during the second quarter. NBT Bank N A NY now owns 19,466 shares of the utilities provider's stock worth $1,100,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors own 73.04% of the company's stock.

Insider Transactions at Dominion Energy

In related news, CEO Robert M. Blue acquired 4,152 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was bought at an average price of $60.35 per share, for a total transaction of $250,573.20. Following the completion of the purchase, the chief executive officer directly owned 161,237 shares of the company's stock, valued at approximately $9,730,652.95. The trade was a 2.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. 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 report on Thursday, August 21st. Morgan Stanley cut their price objective on Dominion Energy from $64.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. Evercore ISI assumed coverage on Dominion Energy in a research report on Tuesday. They set an "in-line" rating and a $67.00 price objective on the stock. Barclays upped their price objective on Dominion Energy from $60.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Dominion Energy in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $62.00.

Dominion Energy Stock Performance

NYSE D opened at $60.92 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.46. The company has a market capitalization of $51.99 billion, a PE ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 0.62. The company has a fifty day moving average of $60.46 and a two-hundred day moving average of $57.19.

Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings data 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). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The business's revenue was up 9.3% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. As a group, analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 20th. Shareholders of record on Friday, September 5th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, September 5th. Dominion Energy's dividend payout ratio is currently 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.

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