Sumitomo Mitsui Trust Group Inc. Raises Position in Dominion Energy Inc. (NYSE:D)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,109,437 shares of the utilities provider's stock after purchasing an additional 23,345 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Dominion Energy worth $118,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Asset Management LLC bought a new stake in shares of Dominion Energy during the first quarter worth $226,000. Confluence Wealth Services Inc. lifted its holdings in Dominion Energy by 38.5% during the 1st quarter. Confluence Wealth Services Inc. now owns 15,457 shares of the utilities provider's stock valued at $824,000 after buying an additional 4,294 shares in the last quarter. Jeppson Wealth Management LLC lifted its holdings in Dominion Energy by 14.7% during the 1st quarter. Jeppson Wealth Management LLC now owns 14,714 shares of the utilities provider's stock valued at $825,000 after buying an additional 1,888 shares in the last quarter. Elevated Capital Advisors LLC boosted its position in Dominion Energy by 2.5% in the 1st quarter. Elevated Capital Advisors LLC now owns 18,080 shares of the utilities provider's stock valued at $1,014,000 after buying an additional 446 shares during the period. Finally, 3Chopt Investment Partners LLC grew its stake in Dominion Energy by 7.8% in the 1st quarter. 3Chopt Investment Partners LLC now owns 31,598 shares of the utilities provider's stock worth $1,772,000 after acquiring an additional 2,284 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Stock Down 0.8%

NYSE D traded down $0.45 during midday trading on Thursday, hitting $56.98. 3,095,639 shares of the company traded hands, compared to its average volume of 4,746,019. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $61.97. The company's 50-day simple moving average is $55.42 and its 200-day simple moving average is $54.76. The company has a market cap of $48.59 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.25 and a beta of 0.56. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.11. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, May 29th. Dominion Energy's payout ratio is currently 100.00%.

Analysts Set New Price Targets

D has been the subject of a number of research reports. Morgan Stanley lowered 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. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $52.00 target price (down from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. UBS Group increased their price target on Dominion Energy from $58.00 to $60.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Argus upgraded Dominion Energy to a "hold" rating in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $58.38.

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.