Investors Buy Dominion Energy (D) on Weakness Following Insider Selling

Investors purchased shares of Dominion Energy Inc (NYSE:D) on weakness during trading on Wednesday after an insider sold shares in the company. $116.52 million flowed into the stock on the tick-up and $39.21 million flowed out of the stock on the tick-down, for a money net flow of $77.31 million into the stock. Of all stocks tracked, Dominion Energy had the 3rd highest net in-flow for the day. Dominion Energy traded down ($0.03) for the day and closed at $76.30Specifically, Director Robert H. Spilman, Jr. sold 1,215 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $76.01, for a total value of $92,352.15. Following the transaction, the director now directly owns 23,598 shares in the company, valued at $1,793,683.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director D Maybank Hagood purchased 1,965 shares of Dominion Energy stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $76.34 per share, for a total transaction of $150,008.10. Following the completion of the transaction, the director now owns 2,975 shares of the company’s stock, valued at $227,111.50. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

A number of brokerages have recently issued reports on D. ValuEngine upgraded shares of Dominion Energy from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Mizuho began coverage on shares of Dominion Energy in a research report on Monday. They set a “neutral” rating and a $76.00 target price on the stock. Zacks Investment Research downgraded shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. Wells Fargo & Co boosted their price target on shares of Dominion Energy from $73.00 to $80.00 and gave the stock a “market perform” rating in a research note on Monday, December 17th. Finally, Argus reissued a “buy” rating on shares of Dominion Energy in a research note on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Dominion Energy currently has a consensus rating of “Hold” and a consensus target price of $84.75.

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.49 and a current ratio of 0.67. The company has a market capitalization of $60.99 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 3.34 and a beta of 0.22.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, February 1st. The utilities provider reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.13 billion. Dominion Energy had a return on equity of 12.85% and a net margin of 18.31%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Equities analysts anticipate that Dominion Energy Inc will post 4.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be paid a $0.9175 dividend. This represents a $3.67 annualized dividend and a yield of 4.79%. The ex-dividend date is Thursday, February 28th. This is an increase from Dominion Energy’s previous quarterly dividend of $0.84. Dominion Energy’s dividend payout ratio is presently 90.62%.

A number of large investors have recently modified their holdings of D. Nalls Sherbakoff Group LLC bought a new stake in shares of Dominion Energy during the fourth quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in shares of Dominion Energy during the fourth quarter worth $27,000. Athena Capital Advisors LLC bought a new stake in shares of Dominion Energy during the fourth quarter worth $28,000. Heritage Trust Co increased its position in shares of Dominion Energy by 58.8% during the fourth quarter. Heritage Trust Co now owns 405 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Finally, Clarfeld Financial Advisors LLC bought a new stake in shares of Dominion Energy during the fourth quarter worth $36,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

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Dominion Energy Company Profile (NYSE:D)

Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.

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