Zacks Investment Research upgraded shares of Dominion Energy (NYSE:D) from a hold rating to a buy rating in a report published on Monday. The brokerage currently has $76.00 price objective on the utilities provider’s stock.
According to Zacks, “In last three months, shares of Dominion Energy have gained higher than its industry. Dominion Energy is benefiting from its regulated growth projects and synergies from Questar’s acquisition. The company’s expansion of electric transmission, natural gas facilities and midstream assets are strong positives. Its merger deal with SCANA is going to be immediately accretive to earnings and boost performance of the company. However, any delay in ongoing capital projects could adversely impact profitability of the company. Reduction in solar investment tax credits and share dilution may affect its future results. The company and its gas unit’s dependency upon third-party producers for natural gas supply increases risk.”
A number of other brokerages have also commented on D. JPMorgan Chase & Co. decreased their price objective on Dominion Energy from $67.00 to $62.00 and set a hold rating for the company in a report on Thursday, June 7th. Bank of America lowered Dominion Energy from a buy rating to a neutral rating and upped their target price for the company from $69.15 to $79.00 in a report on Tuesday, March 20th. UBS Group lowered Dominion Energy from a buy rating to a neutral rating and set a $85.00 target price for the company. in a report on Friday, March 16th. Wells Fargo & Co reduced their target price on Dominion Energy to $68.00 and set a market perform rating for the company in a report on Friday, April 13th. Finally, ValuEngine raised Dominion Energy from a strong sell rating to a sell rating in a report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $74.39.
Dominion Energy opened at $68.45 on Monday, Marketbeat.com reports. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.31 and a current ratio of 0.46. The company has a market cap of $44.49 billion, a P/E ratio of 18.95, a PEG ratio of 2.75 and a beta of 0.28. Dominion Energy has a fifty-two week low of $61.53 and a fifty-two week high of $85.30.
Dominion Energy (NYSE:D) last issued its quarterly earnings data on Friday, April 27th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.11. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.48 billion. Dominion Energy had a return on equity of 12.88% and a net margin of 23.74%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. equities research analysts forecast that Dominion Energy will post 4.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 20th. Shareholders of record on Friday, June 1st were given a dividend of $0.835 per share. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $3.34 annualized dividend and a dividend yield of 4.88%. Dominion Energy’s dividend payout ratio is currently 92.78%.
In other Dominion Energy news, insider Thomas F. Farrell II acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 10th. The shares were bought at an average price of $63.44 per share, for a total transaction of $253,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Lee Financial Co raised its position in shares of Dominion Energy by 1,549.0% in the first quarter. Lee Financial Co now owns 1,616 shares of the utilities provider’s stock worth $109,000 after buying an additional 1,518 shares in the last quarter. We Are One Seven LLC purchased a new stake in Dominion Energy during the fourth quarter valued at about $111,000. KHP Capital LLC purchased a new stake in Dominion Energy during the first quarter valued at about $137,000. Macroview Investment Management LLC purchased a new stake in Dominion Energy during the first quarter valued at about $144,000. Finally, Private Capital Group LLC raised its position in Dominion Energy by 1,708.3% during the first quarter. Private Capital Group LLC now owns 2,170 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors own 67.36% of the company’s stock.
Dominion Energy Company Profile
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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