Dominion Energy (NYSE:D) Shares Up 0.3% Following Analyst Upgrade

Dominion Energy, Inc. (NYSE:D)’s stock price rose 0.3% during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $40.00 to $43.00. Bank of America currently has an underperform rating on the stock. Dominion Energy traded as high as $51.11 and last traded at $50.80. Approximately 670,016 shares were traded during trading, a decline of 87% from the average daily volume of 5,333,042 shares. The stock had previously closed at $50.63.

Several other research firms also recently issued reports on D. Barclays reduced 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 reduced 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 downgraded 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 upped their price objective on Dominion Energy from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, Guggenheim cut their price target on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Two investment analysts have 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 stock currently has an average rating of “Hold” and an average target price of $49.10.

Insiders Place Their Bets

In related news, Director Joseph M. Rigby acquired 2,130 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the acquisition, the director now directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Robert M. Blue acquired 21,735 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the acquisition, the chief executive officer now directly owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph M. Rigby acquired 2,130 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the acquisition, 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 Investors Weigh In On Dominion Energy

Several hedge funds have recently bought and sold shares of D. Wellington Management Group LLP lifted its stake in Dominion Energy by 631.2% in the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after purchasing an additional 14,105,237 shares during the last quarter. Capital Research Global Investors lifted its stake in Dominion Energy by 136.5% in the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after purchasing an additional 10,370,768 shares during the last quarter. Norges Bank acquired a new stake in Dominion Energy in the 4th quarter valued at about $329,792,000. ClearBridge Investments Ltd acquired a new stake in Dominion Energy in the 4th quarter valued at about $214,220,000. Finally, JPMorgan Chase & Co. lifted its position in Dominion Energy by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock worth $1,045,051,000 after acquiring an additional 1,928,823 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Price Performance

The company’s 50-day simple moving average is $47.84 and its 200-day simple moving average is $46.25. 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 $42.44 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.96 and a beta of 0.61.

Dominion Energy (NYSE:D) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.06 earnings per share. Research analysts forecast that Dominion Energy, Inc. will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business 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 5.27%. Dominion Energy’s dividend payout ratio (DPR) is presently 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.