Dominion Energy (NYSE:D) Price Target Lowered to $59.00 at JPMorgan Chase & Co.

Dominion Energy (NYSE:D) had its price objective trimmed by JPMorgan Chase & Co. from $62.00 to $59.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the utilities provider’s stock.

Several other brokerages also recently weighed in on D. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dominion Energy in a report on Monday. Morgan Stanley upped their target price on Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Evercore ISI initiated coverage on Dominion Energy in a research report on Tuesday, October 7th. They set an “in-line” rating and a $67.00 target price on the stock. Barclays lifted their price target on Dominion Energy from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company started coverage on shares of Dominion Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $67.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Dominion Energy currently has an average rating of “Hold” and a consensus target price of $64.63.

Dominion Energy Trading Up 0.1%

Shares of D stock opened at $58.12 on Thursday. The firm has a 50-day moving average price of $60.55 and a 200 day moving average price of $59.16. Dominion Energy has a twelve month low of $48.07 and a twelve month high of $62.87. The company has a market capitalization of $49.63 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.67 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.65 and a debt-to-equity ratio of 1.41.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Dominion Energy had a net margin of 16.17% and a return on equity of 9.60%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. Research analysts forecast that Dominion Energy will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 20th. Investors of record on Friday, December 5th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, December 5th. Dominion Energy’s dividend payout ratio is 90.82%.

Institutional Investors Weigh In On Dominion Energy

Several institutional investors have recently bought and sold shares of D. CoreFirst Bank & Trust acquired a new position in shares of Dominion Energy during the 2nd quarter valued at $25,000. Triumph Capital Management purchased a new position in Dominion Energy in the third quarter valued at about $28,000. Westside Investment Management Inc. lifted its stake in shares of Dominion Energy by 123.3% during the second quarter. Westside Investment Management Inc. now owns 469 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 259 shares in the last quarter. United Community Bank purchased a new stake in shares of Dominion Energy in the third quarter worth about $29,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Dominion Energy in the third quarter worth about $30,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

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.