Dominion Energy, Inc. (NYSE:D – Get Rating) – Analysts at Seaport Res Ptn decreased their FY2023 EPS estimates for shares of Dominion Energy in a report issued on Monday, November 21st. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $3.65 per share for the year, down from their previous forecast of $4.38. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Dominion Energy’s current full-year earnings is $4.11 per share. Seaport Res Ptn also issued estimates for Dominion Energy’s FY2024 earnings at $3.97 EPS and FY2025 earnings at $4.40 EPS.
D has been the subject of several other reports. Wells Fargo & Company decreased their target price on shares of Dominion Energy from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Bank of America cut shares of Dominion Energy from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $94.00 to $59.00 in a research report on Wednesday, November 9th. Maxim Group began coverage on shares of Dominion Energy in a research report on Friday, November 4th. They set a “hold” rating for the company. BMO Capital Markets upped their price objective on shares of Dominion Energy from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. Finally, JPMorgan Chase & Co. cut shares of Dominion Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $83.00 to $76.00 in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Dominion Energy has a consensus rating of “Hold” and an average price target of $75.08.
Dominion Energy Stock Performance
Dominion Energy (NYSE:D – Get Rating) last posted its earnings results on Friday, November 4th. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.03. Dominion Energy had a net margin of 14.73% and a return on equity of 12.84%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the previous year, the business posted $1.11 EPS. The business’s revenue was up 38.1% compared to the same quarter last year.
Dominion Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Friday, December 2nd will be given a $0.6675 dividend. The ex-dividend date is Thursday, December 1st. This represents a $2.67 dividend on an annualized basis and a yield of 4.37%. Dominion Energy’s payout ratio is currently 95.70%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of D. IFM Investors Pty Ltd lifted its position in shares of Dominion Energy by 121.0% during the first quarter. IFM Investors Pty Ltd now owns 238,937 shares of the utilities provider’s stock worth $20,302,000 after purchasing an additional 130,836 shares in the last quarter. Brown Advisory Inc. raised its holdings in Dominion Energy by 7.4% in the second quarter. Brown Advisory Inc. now owns 335,146 shares of the utilities provider’s stock valued at $26,631,000 after acquiring an additional 23,198 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Dominion Energy by 3.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 4,250 shares of the utilities provider’s stock valued at $361,000 after acquiring an additional 125 shares in the last quarter. Courier Capital LLC raised its holdings in Dominion Energy by 13.4% in the second quarter. Courier Capital LLC now owns 4,425 shares of the utilities provider’s stock valued at $353,000 after acquiring an additional 522 shares in the last quarter. Finally, Fiduciary Trust Co. raised its holdings in Dominion Energy by 6.0% in the first quarter. Fiduciary Trust Co. now owns 14,300 shares of the utilities provider’s stock valued at $1,215,000 after acquiring an additional 808 shares in the last quarter. Institutional investors and hedge funds own 69.75% of the company’s stock.
Dominion Energy Company Profile
Dominion Energy, Inc produces and distributes energy in the United States. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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