Franklin Resources Inc. Acquires 398,012 Shares of Dominion Energy, Inc. (NYSE:D)

Franklin Resources Inc. boosted its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,718,747 shares of the utilities provider’s stock after purchasing an additional 398,012 shares during the quarter. Franklin Resources Inc. owned about 1.04% of Dominion Energy worth $496,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in D. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Dominion Energy by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 113,639 shares of the utilities provider’s stock worth $5,568,000 after purchasing an additional 3,990 shares during the period. ORG Partners LLC grew its position in Dominion Energy by 154.1% during the second quarter. ORG Partners LLC now owns 1,418 shares of the utilities provider’s stock worth $68,000 after buying an additional 860 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Dominion Energy during the second quarter valued at about $33,000. Blue Trust Inc. raised its holdings in Dominion Energy by 11.8% in the 2nd quarter. Blue Trust Inc. now owns 13,751 shares of the utilities provider’s stock valued at $676,000 after acquiring an additional 1,451 shares in the last quarter. Finally, Gradient Investments LLC lifted its position in shares of Dominion Energy by 232.3% in the 2nd quarter. Gradient Investments LLC now owns 3,915 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 2,737 shares during the period. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on D shares. Jefferies Financial Group initiated coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective on the stock. Barclays boosted their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Morgan Stanley began coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price objective for the company. Scotiabank lifted their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Stock Performance

NYSE D opened at $54.04 on Friday. Dominion Energy, Inc. has a 1-year low of $43.53 and a 1-year high of $61.97. The company has a 50 day moving average of $57.77 and a 200-day moving average of $55.20. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The firm has a market cap of $45.39 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.45 and a beta of 0.59.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the company earned $0.77 EPS. Dominion Energy’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.94%. Dominion Energy’s dividend payout ratio (DPR) is 93.68%.

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.