Dominion Energy (NYSE:D) Price Target Raised to $43.00

Dominion Energy (NYSE:D) had its price objective lifted by equities research analysts at Bank of America from $40.00 to $43.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s price target would indicate a potential downside of 15.77% from the stock’s previous close.

A number of other brokerages have also recently commented on D. Wells Fargo & Company lifted their target price on shares of Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Mizuho dropped their price objective on shares of Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. 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. Finally, StockNews.com cut shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $49.10.

Dominion Energy Stock Up 0.8 %

Dominion Energy stock traded up $0.42 during trading on Tuesday, reaching $51.05. The stock had a trading volume of 1,293,521 shares, compared to its average volume of 5,341,525. Dominion Energy has a 52-week low of $39.18 and a 52-week high of $57.90. The business has a 50 day moving average price of $47.71 and a 200 day moving average price of $46.18. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a market cap of $42.76 billion, a PE ratio of 21.91, a P/E/G ratio of 1.96 and a beta of 0.61.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 earnings per share. On average, analysts predict that Dominion Energy will post 2.86 EPS for the current year.

Insider Transactions at Dominion Energy

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Criterion Capital Advisors LLC purchased a new position in Dominion Energy in the fourth quarter valued at approximately $29,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Dominion Energy during the fourth quarter valued at approximately $30,000. Rise Advisors LLC purchased a new stake in shares of Dominion Energy during the first quarter valued at approximately $30,000. FSC Wealth Advisors LLC raised its stake in shares of Dominion Energy by 149.6% during the third quarter. FSC Wealth Advisors LLC now owns 684 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 410 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Dominion Energy by 84.5% during the fourth quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

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.