Ridgewood Investments LLC Lowers Position in Dominion Energy Inc. $D

Key Points

• Ridgewood Investments LLC reduced its stake in Dominion Energy Inc. by 71.3% in Q2, owning only 4,552 shares after selling 11,293 shares.
• In its latest quarterly report, Dominion Energy missed earnings estimates, reporting $0.75 EPS compared to the consensus expectation of $0.77, but saw a 9.3% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.6675 per share, translating to an annual yield of 4.5%, with a substantial dividend payout ratio of 92.07%.

Ridgewood Investments LLC lowered its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 71.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,552 shares of the utilities provider's stock after selling 11,293 shares during the period. Ridgewood Investments LLC's holdings in Dominion Energy were worth $257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of Dominion Energy during the 4th quarter valued at about $27,000. AlphaQuest LLC bought a new position in shares of Dominion Energy during the 1st quarter valued at about $27,000. VSM Wealth Advisory LLC bought a new position in shares of Dominion Energy during the 1st quarter valued at about $28,000. Dagco Inc. bought a new position in shares of Dominion Energy during the 1st quarter valued at about $31,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Dominion Energy during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Up 0.1%

Shares of NYSE:D opened at $59.89 on Tuesday. 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 $59.74 and its 200-day moving average price is $56.61. The company has a market cap of $51.11 billion, a P/E ratio of 20.65, a PEG ratio of 1.30 and a beta of 0.60. 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 (NYSE:D - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%.The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. Dominion Energy's quarterly revenue 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. Sell-side analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 20th. Investors of record on Friday, September 5th were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, September 5th. Dominion Energy's dividend payout ratio (DPR) is presently 92.07%.

Insiders Place Their Bets

In other news, CEO Robert M. Blue bought 4,152 shares of the stock in a transaction on Wednesday, August 27th. The shares were bought at an average price of $60.35 per share, with a total value of $250,573.20. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on D shares. JPMorgan Chase & Co. increased their price objective on Dominion Energy from $56.00 to $59.00 and gave the company an "underweight" rating in a research report on Thursday, August 21st. Morgan Stanley reduced 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 equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Dominion Energy currently has an average rating of "Hold" and a consensus target price 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.

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