Dominion Energy (NYSE:D) Trading Down 2.3% Following Analyst Downgrade

Dominion Energy, Inc. (NYSE:D) shares were down 2.3% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $50.00 to $49.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as low as $46.75 and last traded at $46.83. Approximately 582,133 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 5,453,756 shares. The stock had previously closed at $47.92.

Several other analysts also recently issued reports on D. BMO Capital Markets downgraded 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. Wells Fargo & Company lifted their price target on Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Mizuho dropped their price target on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Guggenheim lowered their target price 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. Finally, Scotiabank lowered their target price on Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dominion Energy presently has an average rating of “Hold” and a consensus price target of $50.10.

Insider Buying and Selling

In other Dominion Energy news, Director Joseph M. Rigby purchased 2,130 shares of Dominion Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Dominion Energy news, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the acquisition, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph M. Rigby acquired 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $46.94 per share, with a total value of $99,982.20. Following the acquisition, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dominion Energy

Institutional investors have recently made changes to their positions in the company. Diamond Hill Capital Management Inc. raised its position in shares of Dominion Energy by 5.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock valued at $178,176,000 after buying an additional 199,629 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Dominion Energy by 196.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after buying an additional 259,978 shares in the last quarter. CWM LLC raised its position in shares of Dominion Energy by 18.7% in the third quarter. CWM LLC now owns 553,557 shares of the utilities provider’s stock valued at $24,727,000 after buying an additional 87,280 shares in the last quarter. Morgan Stanley raised its position in shares of Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after buying an additional 803,341 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of Dominion Energy by 97.3% in the fourth quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after buying an additional 7,071 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Down 2.2 %

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 business’s 50-day moving average price is $47.34 and its two-hundred day moving average price is $45.97. The company has a market capitalization of $39.24 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.92 and a beta of 0.61.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Research analysts predict that Dominion Energy, Inc. 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 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 5.70%. Dominion Energy’s dividend payout ratio is currently 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.