Dominion Energy (NYSE:D) PT Lowered to $49.00

Dominion Energy (NYSE:D) had its target price cut by Barclays from $50.00 to $49.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Mizuho decreased their price objective on shares of Dominion Energy from $47.00 to $45.00 and set a neutral rating for the company in a research note on Wednesday, March 6th. Scotiabank decreased their price objective on shares of Dominion Energy from $50.00 to $49.00 and set a sector perform rating for the company in a research note on Monday, March 4th. Wells Fargo & Company boosted their target price on shares of Dominion Energy from $49.00 to $51.00 and gave the stock an equal weight rating in a research report on Thursday, March 7th. BMO Capital Markets cut shares of Dominion Energy from an outperform rating to a market perform rating and set a $49.00 target price on the stock. in a research report on Monday, March 11th. Finally, StockNews.com cut shares of Dominion Energy from a hold rating to a sell rating in a research report on Friday, February 23rd. One equities 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 company’s stock. According to data from MarketBeat, Dominion Energy presently has a consensus rating of Hold and an average target price of $50.10.

Dominion Energy Price Performance

Dominion Energy stock opened at $48.55 on Monday. Dominion Energy has a 1 year low of $39.18 and a 1 year high of $57.90. The firm has a 50 day moving average price of $47.50 and a 200 day moving average price of $46.01. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.84 and a beta of 0.61. 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 released 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). Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Dominion Energy’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Dominion Energy will post 2.86 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were issued a dividend of $0.6675 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.50%. Dominion Energy’s dividend payout ratio (DPR) is 114.59%.

Insiders Place Their Bets

In other news, CEO Robert M. Blue purchased 21,735 shares of the stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Joseph M. Rigby purchased 2,130 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert M. Blue bought 21,735 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dominion Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. lifted its holdings in Dominion Energy by 5.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock valued at $178,176,000 after acquiring an additional 199,629 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Dominion Energy by 196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after acquiring an additional 259,978 shares during the last quarter. CWM LLC lifted its holdings in Dominion Energy by 18.7% in the 3rd quarter. CWM LLC now owns 553,557 shares of the utilities provider’s stock valued at $24,727,000 after acquiring an additional 87,280 shares during the last quarter. Morgan Stanley lifted its holdings in Dominion Energy by 12.8% in the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after acquiring an additional 803,341 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Dominion Energy by 1,797.9% in the 4th quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock valued at $7,798,000 after acquiring an additional 157,175 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

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.