Dominion Energy, Inc. (NYSE:D) Receives Average Rating of “Hold” from Brokerages

Dominion Energy, Inc. (NYSE:D) has earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $56.58.

Several equities research analysts recently issued reports on D shares. Morgan Stanley initiated coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price for the company. Scotiabank upped their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays raised their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Finally, Jefferies Financial Group initiated coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price target for the company.

Dominion Energy Stock Performance

Shares of D opened at $54.40 on Friday. The stock has a market capitalization of $45.70 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.44 and a beta of 0.59. Dominion Energy has a 12 month low of $43.53 and a 12 month high of $61.97. The firm has a fifty day simple moving average of $56.43 and a 200 day simple moving average of $55.34. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts forecast that Dominion Energy will post 2.75 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend was Friday, November 29th. Dominion Energy’s payout ratio is currently 93.68%.

Hedge Funds Weigh In On Dominion Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its holdings 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 worth $487,567,000 after acquiring an additional 3,278,175 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Dominion Energy by 10,324.8% in the third quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock valued at $130,074,000 after buying an additional 2,229,220 shares in the last quarter. International Assets Investment Management LLC grew its position in Dominion Energy by 7,438.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock worth $85,734,000 after acquiring an additional 1,463,858 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Dominion Energy in the second quarter valued at about $67,854,000. Finally, State Street Corp boosted its stake in shares of Dominion Energy by 3.2% during 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 purchasing an additional 1,365,555 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

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.