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

Franklin Resources Inc. increased its holdings in Dominion Energy, Inc. (NYSE:D - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,718,747 shares of the utilities provider's stock after acquiring an additional 398,012 shares during the period. 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 institutional investors and hedge funds also recently modified their holdings of D. State Street Corp raised its stake in shares of Dominion Energy by 3.2% in the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider's stock valued at $2,559,972,000 after buying an additional 1,365,555 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Dominion Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider's stock valued at $1,452,145,000 after purchasing an additional 477,181 shares during the last quarter. Geode Capital Management LLC boosted its position in Dominion Energy by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider's stock worth $1,032,941,000 after purchasing an additional 367,193 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Dominion Energy by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider's stock worth $734,007,000 after purchasing an additional 940,402 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of Dominion Energy by 63.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider's stock valued at $487,567,000 after purchasing an additional 3,278,175 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 0.4 %

Shares of D stock traded up $0.21 during mid-day trading on Friday, reaching $54.04. The stock had a trading volume of 2,985,389 shares, compared to its average volume of 4,466,253. 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 stock's 50-day moving average price is $57.77 and its two-hundred day moving average price is $55.20. The firm has a market capitalization of $45.39 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.45 and a beta of 0.59. Dominion Energy, Inc. has a 52-week low of $43.53 and a 52-week high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last announced 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. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The firm's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. Equities analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy's dividend payout ratio is currently 93.68%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays lifted their target price on Dominion Energy from $54.00 to $58.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Scotiabank boosted their price target 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. Jefferies Financial Group started coverage on Dominion Energy in a research report on Friday, September 20th. They issued a "hold" rating and a $58.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on Dominion Energy in a report on Monday, December 2nd. They issued an "equal weight" rating and a $61.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.58.

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.