Dominion Energy (NYSE:D) Price Target Cut to $48.00 by Analysts at Scotiabank

Dominion Energy (NYSE:D) had its price objective reduced by Scotiabank from $49.00 to $48.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on D. Barclays lowered their price objective on Dominion Energy from $50.00 to $49.00 and set an overweight rating on the stock in a report on Monday, April 15th. Mizuho lowered their price objective on Dominion Energy from $47.00 to $45.00 and set a neutral rating on the stock in a report on Wednesday, March 6th. BMO Capital Markets lowered Dominion Energy from an outperform rating to a market perform rating and set a $49.00 price objective on the stock. in a report on Monday, March 11th. Wells Fargo & Company lifted their price objective on Dominion Energy from $49.00 to $51.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Finally, Guggenheim lowered their price objective on Dominion Energy from $57.00 to $52.00 and set a buy rating on the stock in a 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $50.00.

Dominion Energy Stock Up 1.6 %

D opened at $50.63 on Monday. The stock has a market capitalization of $42.41 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. Dominion Energy has a one year low of $39.18 and a one year high of $57.90. The business’s 50-day simple moving average is $47.71 and its 200-day simple moving average is $46.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04.

Dominion Energy (NYSE:D) last issued its quarterly 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 company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. Analysts anticipate that Dominion Energy will post 2.86 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is 114.59%.

Insider Transactions at Dominion Energy

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in Dominion Energy in the 3rd quarter valued at $397,000. Capital Investment Advisors LLC raised its holdings in Dominion Energy by 1.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 71,638 shares of the utilities provider’s stock valued at $3,200,000 after acquiring an additional 881 shares during the last quarter. Impact Partnership Wealth LLC raised its holdings in Dominion Energy by 13,720.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 2,764 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 2,744 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Dominion Energy by 8.0% in the 3rd quarter. DAVENPORT & Co LLC now owns 340,799 shares of the utilities provider’s stock valued at $15,221,000 after acquiring an additional 25,190 shares during the last quarter. Finally, Park Place Capital Corp increased its holdings in shares of Dominion Energy by 12.5% during the 3rd quarter. Park Place Capital Corp now owns 16,624 shares of the utilities provider’s stock worth $743,000 after buying an additional 1,841 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

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.