Dominion Energy (NYSE:D) Stock Price Up 0.3% After Analyst Upgrade

Dominion Energy, Inc. (NYSE:D)’s share price was up 0.3% during trading on Tuesday after Bank of America raised their price target on the stock from $40.00 to $43.00. Bank of America currently has an underperform rating on the stock. Dominion Energy traded as high as $51.11 and last traded at $50.80. Approximately 670,016 shares were traded during trading, a decline of 87% from the average daily volume of 5,333,042 shares. The stock had previously closed at $50.63.

D has been the topic of a number of other research reports. Guggenheim dropped their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Wells Fargo & Company raised their price objective on Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. StockNews.com downgraded Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Mizuho dropped their price objective on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, Scotiabank lowered their price target on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.10.

Insider Transactions at Dominion Energy

In other news, Director Joseph M. Rigby bought 2,130 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $46.94 per share, with a total value of $99,982.20. Following the transaction, the director now directly owns 8,417 shares in the company, valued at $395,093.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Joseph M. Rigby bought 2,130 shares of the stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the purchase, the director now owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Dominion Energy

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock worth $1,045,051,000 after acquiring an additional 1,928,823 shares in the last quarter. Wellington Management Group LLP grew its holdings in Dominion Energy by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock worth $869,184,000 after buying an additional 2,153,488 shares in the last quarter. Capital Research Global Investors grew its holdings in Dominion Energy by 136.5% in the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after buying an additional 10,370,768 shares in the last quarter. Northern Trust Corp boosted its stake in Dominion Energy by 2.7% during the 3rd quarter. Northern Trust Corp now owns 8,527,408 shares of the utilities provider’s stock valued at $380,919,000 after purchasing an additional 220,238 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Dominion Energy by 1.0% during the 4th quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock valued at $357,769,000 after acquiring an additional 75,600 shares during the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Price Performance

The business has a 50-day moving average price of $47.97 and a 200 day moving average price of $46.28. The company has a market cap of $42.93 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.99 and a beta of 0.61. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, research analysts expect that Dominion Energy, Inc. will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a dividend of $0.6675 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a yield of 5.21%. Dominion Energy’s dividend payout ratio (DPR) is presently 114.59%.

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.