Deutsche Bank AG Lowers Stake in Dominion Energy Inc. (NYSE:D)

Key Points

• Deutsche Bank AG has reduced its position in Dominion Energy by 2.1%, now owning 2,035,268 shares valued at approximately $114.1 million.
• Dominion Energy reported $0.75 earnings per share for the last quarter, slightly below the consensus estimate, while its revenue increased by 9.3% year-over-year to $3.81 billion.
• The company declared a quarterly dividend of $0.6675 per share, with a significant annualized dividend yield of 4.3%.

Deutsche Bank AG lessened its position in Dominion Energy Inc. (NYSE:D - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,035,268 shares of the utilities provider's stock after selling 44,395 shares during the quarter. Deutsche Bank AG owned approximately 0.24% of Dominion Energy worth $114,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Dominion Energy by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider's stock valued at $5,106,823,000 after buying an additional 1,565,459 shares in the last quarter. Bank of New York Mellon Corp increased its position in Dominion Energy by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock valued at $890,318,000 after buying an additional 939,835 shares in the last quarter. Bank of America Corp DE increased its position in 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 buying an additional 336,747 shares in the last quarter. Canada Pension Plan Investment Board increased its position in 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 valued at $616,747,000 after buying an additional 63,206 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Dominion Energy by 16.7% in the 4th quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock worth $501,759,000 after purchasing an additional 1,330,459 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Down 0.4%

D stock traded down $0.26 during midday trading on Monday, reaching $61.56. 4,151,700 shares of the company traded hands, compared to its average volume of 4,932,773. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 0.57. The business has a 50 day moving average of $57.29 and a 200-day moving average of $55.68. Dominion Energy Inc. has a 52-week low of $48.07 and a 52-week high of $62.26. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.67.

Dominion Energy (NYSE:D - Get Free Report) last released its earnings results on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. As a group, sell-side analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, September 5th. This represents a $2.67 annualized dividend and a yield of 4.3%. Dominion Energy's dividend payout ratio is 92.07%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday, July 15th. Morgan Stanley cut their price objective on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $59.14.

About Dominion Energy

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.