LRI Investments LLC Decreases Stake in Dominion Energy Inc. $D

Key Points

• LRI Investments LLC has significantly reduced its stake in Dominion Energy Inc. by 92.6%, now holding only 613 shares after selling 7,642 shares in the second quarter.
• Dominion Energy reported $0.75 earnings per share for the last quarter, missing analyst expectations, although revenues increased by 9.3% year-over-year.
• The company has declared a quarterly dividend of $0.6675 per share, with a current annualized dividend yield of 4.4%.

LRI Investments LLC cut its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 92.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 613 shares of the utilities provider's stock after selling 7,642 shares during the period. LRI Investments LLC's holdings in Dominion Energy were worth $35,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC purchased a new position in shares of Dominion Energy during the first quarter valued at approximately $27,000. VSM Wealth Advisory LLC purchased a new position in shares of Dominion Energy during the first quarter valued at approximately $28,000. Dagco Inc. purchased a new position in shares of Dominion Energy during the first quarter valued at approximately $31,000. ANTIPODES PARTNERS Ltd purchased a new stake in Dominion Energy in the first quarter worth $34,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Dominion Energy in the first quarter worth $34,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 0.6%

Shares of NYSE:D opened at $61.34 on Tuesday. The company has a market cap of $52.35 billion, a P/E ratio of 21.15, a PEG ratio of 1.32 and a beta of 0.62. 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 stock's fifty day moving average price is $60.46 and its 200-day moving average price is $57.28.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, September 20th. Shareholders of record on Friday, September 5th were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, September 5th. Dominion Energy's payout ratio is currently 92.07%.

Analysts Set New Price Targets

Several brokerages recently weighed in on D. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dominion Energy in a research note on Wednesday, October 8th. Evercore ISI began coverage on Dominion Energy in a research note on Tuesday, October 7th. They issued an "in-line" rating and a $67.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research note on Thursday, August 21st. Barclays boosted their target price on Dominion Energy from $60.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Finally, Morgan Stanley dropped their target price on Dominion Energy from $64.00 to $63.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. 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, the company presently has a consensus rating of "Hold" and a consensus price target of $62.00.

Insider Buying and Selling

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

Dominion Energy Company 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.

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