Dominion Energy Inc. (NYSE:D) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Dominion Energy by 11.4% during Q1, now owning 1,499,101 shares valued at approximately $84.06 million.
• Dominion Energy reported a quarterly EPS of $0.75, missing estimates by $0.02, but achieved a revenue of $3.81 billion, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.6675, with a 4.3% dividend yield and a payout ratio of 92.07%.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,499,101 shares of the utilities provider's stock after buying an additional 153,387 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Dominion Energy worth $84,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Cadence Bank increased its stake in Dominion Energy by 2.0% during the fourth quarter. Cadence Bank now owns 9,561 shares of the utilities provider's stock worth $515,000 after acquiring an additional 189 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Dominion Energy by 3.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock valued at $338,000 after buying an additional 193 shares in the last quarter. Centre Asset Management LLC grew its stake in shares of Dominion Energy by 3.3% in the first quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock valued at $350,000 after buying an additional 198 shares in the last quarter. Cornerstone Wealth Group LLC grew its stake in shares of Dominion Energy by 1.1% in the first quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock valued at $1,022,000 after buying an additional 202 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in Dominion Energy by 4.6% in the first quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock valued at $263,000 after purchasing 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

A number of research analysts recently commented on D shares. JPMorgan Chase & Co. increased their price target on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. Morgan Stanley reduced their price target 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $59.14.

Dominion Energy Stock Performance

D traded down $0.26 during trading on Monday, reaching $61.56. 4,151,700 shares of the company were exchanged, compared to its average volume of 4,932,773. The stock has a market cap of $52.53 billion, a P/E ratio of 19.08, a PEG ratio of 1.34 and a beta of 0.57. The firm has a 50 day moving average of $57.19 and a 200 day moving average of $55.62. 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 Inc. has a 52 week low of $48.07 and a 52 week high of $62.26.

Dominion Energy (NYSE:D - Get Free Report) last announced its earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share 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 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 firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. On average, sell-side analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be given a dividend of $0.6675 per share. The ex-dividend date 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%.

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.