Resona Asset Management Co. Ltd. Acquires 17,822 Shares of Dominion Energy Inc. $D

Key Points

• Resona Asset Management Co. Ltd. increased its shares in Dominion Energy Inc. by 6.5%, bringing its total holdings to 290,301 shares worth approximately $16.23 million.
• Dominion Energy recently reported a quarterly earnings per share of $0.75, missing the consensus estimate of $0.77 but achieving revenues of $3.81 billion.
• The company has declared a quarterly dividend of $0.6675 per share, resulting in an annualized dividend yield of 4.3%.

Resona Asset Management Co. Ltd. increased its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 6.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 290,301 shares of the utilities provider's stock after acquiring an additional 17,822 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Dominion Energy were worth $16,234,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of D. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Dominion Energy by 450.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Dominion Energy during the 4th quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in Dominion Energy in the fourth quarter worth $27,000. VSM Wealth Advisory LLC bought a new position in shares of Dominion Energy in the 1st quarter valued at approximately $28,000. Finally, Navigoe LLC bought a new stake in Dominion Energy during the fourth quarter worth approximately $29,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 15th. Morgan Stanley reduced their price target on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research 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 given a buy rating to the company. According to data from MarketBeat.com, Dominion Energy currently has an average rating of "Hold" and a consensus price target of $59.14.

Dominion Energy Stock Performance

Shares of D stock traded down $0.53 during trading on Monday, reaching $60.61. 1,199,327 shares of the company's stock were exchanged, compared to its average volume of 5,326,415. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $62.26. The firm's fifty day moving average price is $57.71 and its 200-day moving average price is $55.85. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $51.72 billion, a PE ratio of 20.90, a PEG ratio of 1.33 and a beta of 0.57.

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

Dominion Energy Dividend Announcement

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 given 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 yield of 4.4%. Dominion Energy's dividend payout ratio is currently 92.07%.

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.