Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Dominion Energy Inc. (NYSE:D)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,876 shares of the utilities provider's stock after acquiring an additional 9,638 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Dominion Energy were worth $7,787,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Dominion Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider's stock valued at $4,821,222,000 after buying an additional 674,859 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Dominion Energy by 4.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider's stock valued at $1,667,540,000 after acquiring an additional 1,459,926 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dominion Energy by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider's stock valued at $997,034,000 after acquiring an additional 601,900 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Dominion Energy by 2.9% during the 4th quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider's stock valued at $643,422,000 after acquiring an additional 336,747 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Dominion Energy by 0.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider's stock worth $616,747,000 after purchasing an additional 63,206 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

D traded down $0.21 during trading on Wednesday, hitting $57.44. 7,516,322 shares of the company traded hands, compared to its average volume of 4,745,685. The firm has a market cap of $48.98 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. The stock's fifty day moving average is $55.34 and its 200 day moving average is $54.74. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Dominion Energy Inc. has a one year low of $48.03 and a one year high of $61.97.

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

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were paid a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.65%. Dominion Energy's dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

D has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $52.00 price target (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Argus raised Dominion Energy to a "hold" rating in a research note on Tuesday, March 25th. Finally, UBS Group raised their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, March 21st. 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, Dominion Energy has a consensus rating of "Hold" and an average target price of $58.38.

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.