Eagle Ridge Investment Management Sells 2,336 Shares of Dominion Energy, Inc. (NYSE:D)

Eagle Ridge Investment Management trimmed its holdings in Dominion Energy, Inc. (NYSE:D) by 26.6% in the 4th quarter, Holdings Channel reports. The fund owned 6,453 shares of the utilities provider’s stock after selling 2,336 shares during the quarter. Eagle Ridge Investment Management’s holdings in Dominion Energy were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Dominion Energy by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after purchasing an additional 1,928,823 shares in the last quarter. Wellington Management Group LLP increased its stake in Dominion Energy by 631.2% during the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after purchasing an additional 14,105,237 shares in the last quarter. Northern Trust Corp increased its stake in Dominion Energy by 2.7% during the 3rd quarter. Northern Trust Corp now owns 8,527,408 shares of the utilities provider’s stock valued at $380,919,000 after purchasing an additional 220,238 shares in the last quarter. Federated Hermes Inc. increased its stake in Dominion Energy by 1.0% during the 4th quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock valued at $357,769,000 after purchasing an additional 75,600 shares in the last quarter. Finally, Morgan Stanley increased its stake in Dominion Energy by 12.8% during the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after purchasing an additional 803,341 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on D shares. Bank of America raised their price objective on shares of Dominion Energy from $40.00 to $43.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. StockNews.com lowered shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Guggenheim reduced their price target on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Scotiabank reduced their price target on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $49.10.

Insider Buying and Selling

In other Dominion Energy news, Director Joseph M. Rigby purchased 2,130 shares of Dominion Energy stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Robert M. Blue acquired 21,735 shares of the business’s stock in a transaction on Monday, March 4th. The shares were acquired at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the transaction, the chief executive officer now directly owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph M. Rigby acquired 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the transaction, the director now directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by company insiders.

Dominion Energy Price Performance

NYSE:D traded up $0.62 during trading hours on Monday, hitting $51.07. 1,348,925 shares of the stock traded hands, compared to its average volume of 5,278,967. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $57.65. The company has a market cap of $42.78 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. The stock has a 50 day moving average price of $48.17 and a 200 day moving average price of $46.42.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the firm earned $1.06 EPS. Dominion Energy’s revenue for the quarter was down 7.2% compared to the same quarter last year. Sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

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.