Insider Trading Report: Dominion Energy (D)

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  • Robert Blue, President and CEO of Dominion Energy (D) recently picked up 14,402 shares. The buy came to $1 million. He was joined by director Mark Kington, who bought 2,000 shares a day later.

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  • Insiders have largely been sellers of shares in prior months. However, the share price has now slid over 20 percent from its peak, and this may be the start of a new policy of insiders taking advantage of volatile moves in the market.

    Shares of the utility giant have traded around $68, a multi-month low and well off the recent high of $84. Overall, shares are still down about 20 percent over the past year.

    Action to take: Earnings and revenue are off at the utility, making it currently unprofitable. However, a recovering economy is likely to send shares higher in time. The company already reduced its dividend payment, so buyers today are getting a 3.6 percent yield with a chance for a jump when the company returns to profitability.

    For traders, it may be prudent to wait for a new uptrend in the space. Right now, shares have gotten near oversold levels on a technical basis, but have yet to get fully oversold, suggesting some more downside.

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  • The July 2021 $70 calls seem to have some upside. Last trading for about $3.20, they could get into the mid-$2 range in the coming sessions if the market remains volatile. Look for that better pricing as a buying opportunity.