Dominion Energy (NYSE:D) Stock Price Up 0.4% Following Analyst Upgrade

Dominion Energy, Inc. (NYSE:D) shot up 0.4% during trading on Wednesday 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 $50.89 and last traded at $50.85. 638,018 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,323,789 shares. The stock had previously closed at $50.67.

Other analysts have also issued research reports about the stock. Scotiabank dropped their price objective on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday. Guggenheim dropped their price objective on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. StockNews.com lowered shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research note on Monday, March 11th. Finally, Barclays dropped their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $49.10.

Insiders Place Their Bets

In other Dominion Energy news, Director Joseph M. Rigby acquired 2,130 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the acquisition, the director now directly owns 8,417 shares in the company, valued at approximately $395,093.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph M. Rigby purchased 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost 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 approximately $395,093.98. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dominion Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Impact Partnership Wealth LLC lifted its holdings in Dominion Energy by 13,720.0% in the third quarter. Impact Partnership Wealth LLC now owns 2,764 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 2,744 shares during the period. Capital Asset Advisory Services LLC lifted its holdings in Dominion Energy by 2.4% in the third quarter. Capital Asset Advisory Services LLC now owns 12,488 shares of the utilities provider’s stock worth $536,000 after purchasing an additional 298 shares during the period. SS&H Financial Advisors Inc. acquired a new stake in Dominion Energy in the third quarter worth about $531,000. Czech National Bank lifted its holdings in Dominion Energy by 47.8% in the third quarter. Czech National Bank now owns 146,251 shares of the utilities provider’s stock worth $6,533,000 after purchasing an additional 47,293 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in Dominion Energy by 8.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 7,805 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 615 shares during the period. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Up 1.1 %

The firm has a market cap of $42.93 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.99 and a beta of 0.61. The firm’s fifty day moving average is $47.97 and its two-hundred day moving average is $46.28. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share 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 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 period in the previous year, the company earned $1.06 EPS. On average, sell-side analysts expect that Dominion Energy, Inc. will post 2.86 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 114.59%.

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.