Sumitomo Mitsui Trust Holdings Inc. Grows Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Sumitomo Mitsui Trust Holdings Inc. increased its position in Dominion Energy, Inc. (NYSE:D) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,065,766 shares of the utilities provider’s stock after acquiring an additional 14,456 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Dominion Energy worth $101,615,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in Dominion Energy by 196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock worth $18,451,000 after acquiring an additional 259,978 shares during the last quarter. Morgan Stanley raised its stake in Dominion Energy by 12.8% during the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after buying an additional 803,341 shares during the last quarter. International Assets Investment Management LLC raised its stake in Dominion Energy by 1,797.9% during the 4th quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock valued at $7,798,000 after buying an additional 157,175 shares during the last quarter. Diversified Trust Co raised its stake in Dominion Energy by 97.3% during the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after buying an additional 7,071 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in Dominion Energy during the 4th quarter valued at $263,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

D has been the subject of a number of research reports. Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $43.00 to $54.00 in a research note on Friday, May 10th. Barclays decreased their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. BMO Capital Markets boosted their target price on shares of Dominion Energy from $51.00 to $52.00 and gave the company a “market perform” rating in a research note on Monday, May 6th. StockNews.com upgraded shares of Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Mizuho boosted their target price on shares of Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.73.

Dominion Energy Trading Up 1.3 %

Shares of Dominion Energy stock opened at $49.18 on Thursday. The company has a market capitalization of $41.19 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.30 and a beta of 0.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. The company has a fifty day moving average of $51.54 and a 200 day moving average of $48.73. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $54.74.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. Dominion Energy’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. On average, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Friday, May 31st. Dominion Energy’s dividend payout ratio is currently 137.63%.

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.