Dominion Energy (NYSE:D) Price Target Increased to $43.00 by Analysts at Bank of America

Dominion Energy (NYSE:D) had its price target lifted by Bank of America from $40.00 to $43.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an underperform rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on the company. BMO Capital Markets cut Dominion Energy from an outperform rating to a market perform rating and set a $49.00 price target on the stock. in a research note on Monday, March 11th. Barclays lowered their price objective on Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a research report on Monday, April 15th. Mizuho decreased their target price on Dominion Energy from $47.00 to $45.00 and set a neutral rating for the company in a research note on Wednesday, March 6th. Wells Fargo & Company boosted their target price on Dominion Energy from $49.00 to $51.00 and gave the stock an equal weight rating in a research note on Thursday, March 7th. Finally, StockNews.com cut Dominion Energy from a hold rating to a sell rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $49.10.

Dominion Energy Trading Up 0.1 %

Shares of Dominion Energy stock opened at $50.67 on Tuesday. The firm has a market capitalization of $42.44 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.99 and a beta of 0.61. Dominion Energy has a fifty-two week low of $39.18 and a fifty-two week high of $57.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a 50 day moving average of $47.84 and a 200 day moving average of $46.25.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. As a group, research analysts predict that Dominion Energy will post 2.86 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend payout ratio is currently 114.59%.

Insider Buying and Selling at Dominion Energy

In related news, Director Joseph M. Rigby bought 2,130 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Joseph M. Rigby bought 2,130 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert M. Blue bought 21,735 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the acquisition, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of D. Wellington Management Group LLP grew its holdings in Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after purchasing an additional 14,105,237 shares during the last quarter. Capital Research Global Investors grew its holdings in Dominion Energy by 136.5% in the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after purchasing an additional 10,370,768 shares during the last quarter. Norges Bank acquired a new stake in Dominion Energy in the fourth quarter valued at $329,792,000. ClearBridge Investments Ltd acquired a new stake in Dominion Energy in the fourth quarter valued at $214,220,000. Finally, JPMorgan Chase & Co. grew its holdings in Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after purchasing an additional 1,928,823 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

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.