Ridgewood Investments LLC Has $888,000 Position in Dominion Energy Inc. (NYSE:D)

Key Points

• Ridgewood Investments LLC decreased its stake in Dominion Energy by 29.1%, reducing its holdings to 15,845 shares worth approximately $888,000.
• Analysts have mixed views on Dominion Energy, with Morgan Stanley$62.00 to $60.00, while JPMorgan Chase & Co. raised it from $53.00 to $56.00, resulting in an average target price of $58.88.
• Dominion Energy reported a quarterly earnings per share (EPS) of $0.93, exceeding analyst estimates of $0.82, and announced a quarterly dividend of $0.6675 with a yield of 4.54%.

Ridgewood Investments LLC cut its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 29.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,845 shares of the utilities provider's stock after selling 6,499 shares during the quarter. Ridgewood Investments LLC's holdings in Dominion Energy were worth $888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cadence Bank lifted its stake in Dominion Energy by 2.0% in the fourth quarter. Cadence Bank now owns 9,561 shares of the utilities provider's stock valued at $515,000 after buying an additional 189 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Dominion Energy by 3.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock valued at $338,000 after buying an additional 193 shares in the last quarter. Centre Asset Management LLC lifted its stake in Dominion Energy by 3.3% in the first quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock valued at $350,000 after buying an additional 198 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in Dominion Energy by 1.1% in the first quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock valued at $1,022,000 after buying an additional 202 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Dominion Energy by 4.6% in the first quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock valued at $263,000 after buying an additional 208 shares in the last quarter. 73.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

D has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Morgan Stanley cut their price objective on shares of 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 sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Dominion Energy currently has a consensus rating of "Hold" and an average price target of $58.88.

Dominion Energy Stock Down 0.1%

D traded down $0.08 during trading on Thursday, reaching $58.18. 4,844,734 shares of the stock were exchanged, compared to its average volume of 5,305,654. The stock has a market cap of $49.61 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 1.27 and a beta of 0.56. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $61.97. The stock's 50 day moving average price is $56.56 and its two-hundred day moving average price is $55.29. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.73.

Dominion Energy (NYSE:D - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.11. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Equities analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed 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. This represents a $2.67 annualized dividend and a dividend yield of 4.59%. Dominion Energy's dividend payout ratio is currently 100.00%.

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.