Meeder Asset Management Inc. Raises Position in Dominion Energy Inc. (NYSE:D)

Key Points

• Meeder Asset Management Inc. increased its stake in Dominion Energy to 94,773 shares, a boost of 154.0%, now valued at $5.31 million.
• Institutional investors collectively own 73.04% of Dominion Energy's stock, indicating significant confidence from large fund managers.
• Despite a recent earnings beat with $0.93 EPS reported, analysts maintain a consensus rating of "Hold" with a price target averaging $58.88.

Meeder Asset Management Inc. raised its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 154.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,773 shares of the utilities provider's stock after buying an additional 57,458 shares during the quarter. Meeder Asset Management Inc.'s holdings in Dominion Energy were worth $5,314,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Cadence Bank lifted its holdings in Dominion Energy by 2.0% during the 4th quarter. Cadence Bank now owns 9,561 shares of the utilities provider's stock worth $515,000 after buying an additional 189 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in Dominion Energy by 3.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock worth $338,000 after buying an additional 193 shares during the last quarter. Centre Asset Management LLC lifted its holdings in Dominion Energy by 3.3% during the 1st quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock worth $350,000 after buying an additional 198 shares during the last quarter. Cornerstone Wealth Group LLC lifted its holdings in Dominion Energy by 1.1% during the 1st quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock worth $1,022,000 after buying an additional 202 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in Dominion Energy by 4.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock worth $263,000 after buying an additional 208 shares during the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on D shares. Morgan Stanley reduced their target price 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. JPMorgan Chase & Co. upped their price objective on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy currently has an average rating of "Hold" and an average price target of $58.88.

Dominion Energy Price Performance

Shares of D traded up $1.75 on Friday, reaching $60.20. The stock had a trading volume of 4,858,834 shares, compared to its average volume of 5,332,450. The firm has a market capitalization of $51.34 billion, a PE ratio of 22.55, a PEG ratio of 1.26 and a beta of 0.56. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average of $56.61 and a 200 day moving average of $55.33. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Sell-side analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.4%. Dominion Energy's dividend payout ratio (DPR) is presently 100.00%.

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.