Meeder Asset Management Inc. Has $5.31 Million Stake in Dominion Energy Inc. (NYSE:D)

Meeder Asset Management Inc. boosted its holdings in shares of Dominion Energy Inc. (NYSE:D) by 154.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,773 shares of the utilities provider’s stock after buying an additional 57,458 shares during the quarter. Meeder Asset Management Inc.’s holdings in Dominion Energy were worth $5,314,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its position in shares of Dominion Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock valued at $1,667,540,000 after purchasing an additional 1,459,926 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Dominion Energy by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider’s stock valued at $997,034,000 after purchasing an additional 601,900 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Dominion Energy by 6.3% in 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 purchasing an additional 939,835 shares during the last quarter. Bank of America Corp DE grew its position in shares of Dominion Energy by 2.9% in the fourth quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider’s stock valued at $643,422,000 after purchasing an additional 336,747 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Dominion Energy by 0.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider’s stock valued at $616,747,000 after purchasing an additional 63,206 shares during the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on D shares. JPMorgan Chase & Co. raised their price target on Dominion Energy from $53.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, July 15th. Morgan Stanley lowered their price target on Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.88.

Dominion Energy Trading Down 1.2%

Shares of D opened at $58.06 on Tuesday. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $61.97. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $49.51 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.27 and a beta of 0.56. The stock’s 50-day moving average price is $56.51 and its 200 day moving average price is $55.25.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were paid a $0.6675 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.60%. Dominion Energy’s dividend payout ratio is currently 100.00%.

Dominion Energy 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.