Rafferty Asset Management LLC Sells 18,721 Shares of Dominion Energy Inc. $D

Key Points

• Rafferty Asset Management LLC reduced its stake in Dominion Energy by 19.9%, selling 18,721 shares and now holds 75,591 shares valued at approximately $4.24 million.
• CEO Robert M. Blue purchased 4,152 shares at an average cost of $60.35 per share, increasing his ownership by 2.64%.
• Dominion Energy reported a missed EPS estimate of $0.75 for the last quarter compared to the consensus of $0.77, despite a 9.3% year-over-year revenue increase to $3.81 billion.

Rafferty Asset Management LLC lessened its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 19.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,591 shares of the utilities provider's stock after selling 18,721 shares during the quarter. Rafferty Asset Management LLC's holdings in Dominion Energy were worth $4,238,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in D. Brighton Jones LLC grew its holdings in Dominion Energy by 64.3% during the 4th quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock valued at $489,000 after buying an additional 3,553 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Dominion Energy by 26.4% during the fourth quarter. Lido Advisors LLC now owns 26,909 shares of the utilities provider's stock worth $1,449,000 after purchasing an additional 5,613 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Dominion Energy by 2.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 9,818 shares of the utilities provider's stock worth $529,000 after purchasing an additional 228 shares in the last quarter. Parvin Asset Management LLC purchased a new position in shares of Dominion Energy during the fourth quarter worth about $65,000. Finally, Eagle Strategies LLC grew its holdings in shares of Dominion Energy by 6.0% during the fourth quarter. Eagle Strategies LLC now owns 3,759 shares of the utilities provider's stock worth $202,000 after purchasing an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Price Performance

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

Dominion Energy (NYSE:D - Get Free Report) last released its earnings results 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). The firm had revenue of $3.81 billion during 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 quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. 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 Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Robert M. Blue bought 4,152 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 161,237 shares of the company's stock, valued at $9,730,652.95. This represents a 2.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

D has been the subject of several recent analyst 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 report on Thursday, August 21st. Morgan Stanley cut their price objective on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Dominion Energy presently has a consensus rating of "Hold" and a consensus target price of $59.57.

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.