Vanguard Group Inc. Purchases 1,565,459 Shares of Dominion Energy Inc. (NYSE:D)

Key Points

• Vanguard Group Inc. increased its stake in Dominion Energy by 1.7%, now holding a total of 91,079,415 shares valued at approximately $5.1 billion.
• Dominion Energy recently reported a quarterly earnings miss, with earnings per share of $0.75, below the expected $0.77, but revenue rose to $3.81 billion.
• The company announced a quarterly dividend of $0.6675 per share, yielding 4.4%, scheduled for payment on September 20th.

Vanguard Group Inc. lifted its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,079,415 shares of the utilities provider's stock after purchasing an additional 1,565,459 shares during the quarter. Vanguard Group Inc. owned 10.68% of Dominion Energy worth $5,106,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in Dominion Energy by 8,585.3% during the fourth quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider's stock valued at $119,048,000 after buying an additional 2,184,873 shares during the period. Zimmer Partners LP bought a new stake in Dominion Energy during the fourth quarter valued at $72,269,000. Northern Trust Corp boosted its stake in Dominion Energy by 16.7% during the fourth quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock valued at $501,759,000 after buying an additional 1,330,459 shares during the period. GAMMA Investing LLC boosted its stake in Dominion Energy by 6,252.7% during the first quarter. GAMMA Investing LLC now owns 1,276,770 shares of the utilities provider's stock valued at $71,588,000 after buying an additional 1,256,672 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Dominion Energy by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock valued at $890,318,000 after buying an additional 939,835 shares during the period. 73.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Dominion Energy Stock Performance

Dominion Energy stock traded up $0.06 during midday trading on Friday, reaching $61.80. 3,894,437 shares of the company traded hands, compared to its average volume of 4,974,344. The firm has a market capitalization of $52.74 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. The business has a 50 day moving average of $57.19 and a two-hundred day moving average of $55.59. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $62.26. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.53.

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 for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The company 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 for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. As a group, research analysts predict that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, September 5th. Dominion Energy's dividend payout ratio is presently 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.