Sumitomo Mitsui DS Asset Management Company Ltd Acquires 7,853 Shares of Dominion Energy, Inc. (NYSE:D)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Dominion Energy, Inc. (NYSE:D) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 118,769 shares of the utilities provider’s stock after acquiring an additional 7,853 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Dominion Energy were worth $5,582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in Dominion Energy by 22.3% in the fourth quarter. Signaturefd LLC now owns 13,732 shares of the utilities provider’s stock valued at $645,000 after acquiring an additional 2,500 shares during the last quarter. abrdn plc raised its position in shares of Dominion Energy by 72.6% in the fourth quarter. abrdn plc now owns 344,173 shares of the utilities provider’s stock valued at $16,176,000 after purchasing an additional 144,761 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Dominion Energy in the fourth quarter valued at approximately $269,000. Flynn Zito Capital Management LLC bought a new position in shares of Dominion Energy in the fourth quarter valued at approximately $209,000. Finally, Federated Hermes Inc. raised its position in shares of Dominion Energy by 1.0% in the fourth quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock valued at $357,769,000 after purchasing an additional 75,600 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank dropped their price target on shares of Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research report on Monday, March 11th. Mizuho dropped their price target on shares of Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Guggenheim dropped their price target on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Finally, Barclays dropped their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $50.10.

Dominion Energy Trading Up 2.6 %

Shares of Dominion Energy stock opened at $49.84 on Monday. The firm has a market capitalization of $41.75 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97. The company’s fifty day moving average price is $47.61 and its two-hundred day moving average price is $46.11. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $57.90.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. On average, analysts expect that Dominion Energy, Inc. will post 2.86 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 114.59%.

Insider Buying and Selling at Dominion Energy

In other news, Director Joseph M. Rigby bought 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the purchase, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph M. Rigby bought 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the purchase, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert M. Blue bought 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

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.