Barclays Lowers Dominion Energy (NYSE:D) Price Target to $49.00

Dominion Energy (NYSE:D) had its price target decreased by Barclays from $50.00 to $49.00 in a report released on Monday, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

A number of other equities analysts have also recently commented on the stock. Guggenheim decreased their target price on shares of Dominion Energy from $57.00 to $52.00 and set a buy rating on the stock in a research report on Monday, March 4th. BMO Capital Markets cut shares of Dominion Energy from an outperform rating to a market perform rating and set a $49.00 target price on the stock. in a research report on Monday, March 11th. Mizuho decreased their target price on shares of Dominion Energy from $47.00 to $45.00 and set a neutral rating on the stock in a research report on Wednesday, March 6th. StockNews.com cut shares of Dominion Energy from a hold rating to a sell rating in a research report on Friday, February 23rd. Finally, Scotiabank cut their target price on Dominion Energy from $50.00 to $49.00 and set a sector perform rating on the stock in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $50.10.

Dominion Energy Stock Performance

NYSE D opened at $47.92 on Monday. Dominion Energy has a 1 year low of $39.18 and a 1 year high of $58.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market capitalization of $40.14 billion, a PE ratio of 20.57, a P/E/G ratio of 1.92 and a beta of 0.61. The company’s 50 day simple moving average is $47.30 and its two-hundred day simple moving average is $45.96.

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

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 114.59%.

Insider Activity

In other Dominion Energy news, Director Joseph M. Rigby acquired 2,130 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the purchase, the director now owns 8,417 shares in the company, valued at $395,093.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Robert M. Blue acquired 21,735 shares of the stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the purchase, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph M. Rigby acquired 2,130 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the purchase, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in D. Diamond Hill Capital Management Inc. boosted its position in Dominion Energy by 5.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock worth $178,176,000 after acquiring an additional 199,629 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Dominion Energy by 196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after acquiring an additional 259,978 shares during the period. CWM LLC lifted its holdings in Dominion Energy by 18.7% during the 3rd quarter. CWM LLC now owns 553,557 shares of the utilities provider’s stock worth $24,727,000 after buying an additional 87,280 shares in the last quarter. Morgan Stanley lifted its holdings in Dominion Energy by 12.8% during the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after buying an additional 803,341 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in Dominion Energy by 97.3% during the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock worth $674,000 after buying an additional 7,071 shares in the last quarter. Hedge funds and other institutional investors 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.