Westbourne Investments Inc. Buys Shares of 7,340 Dominion Energy Inc. $D

Key Points

• Westbourne Investments Inc. bought 7,340 shares of Dominion Energy Inc. for approximately $412,000, indicating growing interest from institutional investors.
• CEO Robert M. Blue increased his ownership by acquiring 4,152 shares, raising his total stake in the company to about $9.73 million.
• Dominion Energy announced a quarterly dividend of $0.6675 per share, which reflects a 4.6% yield and a high dividend payout ratio of 92.07%.

Westbourne Investments Inc. purchased a new position in shares of Dominion Energy Inc. (NYSE:D - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,340 shares of the utilities provider's stock, valued at approximately $412,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Geneos Wealth Management Inc. lifted its holdings in Dominion Energy by 7.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 11,334 shares of the utilities provider's stock worth $635,000 after buying an additional 796 shares in the last quarter. Schmidt P J Investment Management Inc. raised its stake in shares of Dominion Energy by 5.5% in the first quarter. Schmidt P J Investment Management Inc. now owns 4,814 shares of the utilities provider's stock valued at $270,000 after acquiring an additional 250 shares in the last quarter. Blue Rock Wealth Management LLC boosted its holdings in Dominion Energy by 43.2% in the first quarter. Blue Rock Wealth Management LLC now owns 6,629 shares of the utilities provider's stock valued at $373,000 after purchasing an additional 2,000 shares during the period. Belpointe Asset Management LLC grew its stake in Dominion Energy by 63.2% during the 1st quarter. Belpointe Asset Management LLC now owns 15,705 shares of the utilities provider's stock worth $881,000 after purchasing an additional 6,079 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Dominion Energy by 71.2% during the 1st quarter. Intech Investment Management LLC now owns 30,460 shares of the utilities provider's stock worth $1,708,000 after purchasing an additional 12,663 shares during the period. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Stock Performance

Shares of D stock traded up $0.44 during mid-day trading on Monday, hitting $60.49. The stock had a trading volume of 2,571,063 shares, compared to its average volume of 5,267,816. The firm has a market cap of $51.63 billion, a PE ratio of 20.85, a PEG ratio of 1.30 and a beta of 0.60. The company's 50-day simple moving average is $59.41 and its 200-day simple moving average is $56.41. 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 fifty-two week low of $48.07 and a fifty-two week high of $62.46.

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

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Investors of record on Friday, September 5th will be paid a $0.6675 dividend. The ex-dividend date is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. Dominion Energy's payout ratio is 92.07%.

Insiders Place Their Bets

In other Dominion Energy news, CEO Robert M. Blue acquired 4,152 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was purchased 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 owned 161,237 shares of the company's stock, valued at $9,730,652.95. The trade was a 2.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on D. Morgan Stanley decreased their price objective on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Dominion Energy has a consensus rating of "Hold" and an average price target of $59.57.

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.