Federated Hermes Inc. Increases Holdings in Dominion Energy Inc. (NYSE:D)

Key Points

• Federated Hermes Inc. increased its ownership in Dominion Energy Inc. by 262.5% in the first quarter, owning a total of 6,199 shares valued at $348,000.
• Despite reporting a $0.75 earnings per share, Dominion Energy missed analyst expectations by $0.02, although its revenue increased by 9.3% year-over-year.
• The company declared a quarterly dividend of $0.6675, translating to a 4.3% dividend yield with a high payout ratio of 92.07%.

Federated Hermes Inc. lifted its position in Dominion Energy Inc. (NYSE:D - Free Report) by 262.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,199 shares of the utilities provider's stock after buying an additional 4,489 shares during the quarter. Federated Hermes Inc.'s holdings in Dominion Energy were worth $348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Dominion Energy by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock worth $890,318,000 after buying an additional 939,835 shares in the last quarter. Bank of America Corp DE raised its stake in Dominion Energy by 2.9% in the fourth quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider's stock valued at $643,422,000 after purchasing an additional 336,747 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Dominion Energy by 0.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider's stock valued at $616,747,000 after purchasing an additional 63,206 shares in the last quarter. Northern Trust Corp raised its stake in Dominion Energy by 16.7% in the fourth quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock valued at $501,759,000 after purchasing an additional 1,330,459 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Dominion Energy by 21.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,706,225 shares of the utilities provider's stock valued at $253,477,000 after purchasing an additional 824,814 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of D stock traded down $0.26 during trading hours on Monday, hitting $61.56. 4,151,700 shares of the company's stock were exchanged, compared to its average volume of 4,932,773. The company has a market capitalization of $52.53 billion, a PE ratio of 21.23, a PEG ratio of 1.34 and a beta of 0.57. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $62.26. The business's 50 day simple moving average is $57.29 and its 200-day simple moving average is $55.68. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35.

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

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 annualized dividend and a dividend yield of 4.3%. Dominion Energy's dividend payout ratio (DPR) is 92.07%.

Analyst Ratings Changes

A number of brokerages recently weighed in on D. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Morgan Stanley lowered their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $59.14.

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.