Dominion Energy (D) Stock Rating Lowered by Bank of America

Dominion Energy (NYSE:D) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday, The Fly reports.

Several other research analysts also recently commented on the company. Barclays started coverage on Dominion Energy in a report on Monday, October 22nd. They set a “buy” rating and a $78.00 price objective on the stock. Argus raised their price objective on Dominion Energy from $74.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. They noted that the move was a valuation call. Macquarie set a $74.00 price objective on Dominion Energy and gave the stock a “buy” rating in a report on Tuesday, September 25th. ValuEngine upgraded Dominion Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 6th. Finally, JPMorgan Chase & Co. upgraded Dominion Energy from a “neutral” rating to an “overweight” rating and set a $78.00 price objective on the stock in a report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $85.55.

NYSE:D opened at $71.90 on Friday. The company has a market capitalization of $47.41 billion, a PE ratio of 19.97, a P/E/G ratio of 2.53 and a beta of 0.21. Dominion Energy has a 1 year low of $61.53 and a 1 year high of $77.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.46.



Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.02. Dominion Energy had a return on equity of 13.24% and a net margin of 24.63%. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period last year, the company earned $1.04 EPS. Dominion Energy’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts expect that Dominion Energy will post 4.08 EPS for the current fiscal year.

In related news, CFO James R. Chapman acquired 4,053 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The stock was acquired at an average price of $74.02 per share, with a total value of $300,003.06. Following the acquisition, the chief financial officer now directly owns 22,256 shares in the company, valued at approximately $1,647,389.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Plimoth Trust Co. LLC increased its stake in Dominion Energy by 1.9% during the 3rd quarter. Plimoth Trust Co. LLC now owns 18,254 shares of the utilities provider’s stock worth $1,283,000 after buying an additional 333 shares in the last quarter. Moody National Bank Trust Division increased its stake in Dominion Energy by 0.8% during the 4th quarter. Moody National Bank Trust Division now owns 49,282 shares of the utilities provider’s stock worth $3,521,000 after buying an additional 399 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Dominion Energy by 18.0% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 4,608 shares of the utilities provider’s stock worth $324,000 after buying an additional 702 shares in the last quarter. Cleararc Capital Inc. increased its stake in Dominion Energy by 1.0% during the 3rd quarter. Cleararc Capital Inc. now owns 74,464 shares of the utilities provider’s stock worth $5,233,000 after buying an additional 720 shares in the last quarter. Finally, Good Life Advisors LLC increased its stake in Dominion Energy by 6.4% during the 3rd quarter. Good Life Advisors LLC now owns 12,415 shares of the utilities provider’s stock worth $873,000 after buying an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 66.99% of the company’s stock.

About Dominion Energy

Dominion Energy, Inc engages in the provision of electricity and natural gas to homes, businesses, and wholesale customers. Its operations also include a regulated interstate natural gas transmission pipeline and underground storage system. It operates through following business segments: Power Delivery, Power Generation, and Gas Infrastructure.

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