Dominion Energy (NYSE:D) Trading 0.4% Higher Following Analyst Upgrade

Dominion Energy, Inc. (NYSE:D) traded up 0.4% during mid-day 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 were traded 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.

D has been the topic of several other research reports. Guggenheim cut 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 report on Monday, March 4th. Barclays cut 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 report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Scotiabank cut 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 report on Monday. Finally, StockNews.com downgraded Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $49.10.

Insider Transactions at Dominion Energy

In other news, Director Joseph M. Rigby bought 2,130 shares of Dominion Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the transaction, the director now directly owns 8,417 shares in the company, valued at $395,093.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Robert M. Blue bought 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the transaction, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph M. Rigby acquired 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in D. Criterion Capital Advisors LLC bought a new position in shares of Dominion Energy during the fourth quarter valued at $29,000. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Dominion Energy in the fourth quarter valued at about $30,000. Rise Advisors LLC bought a new position in shares of Dominion Energy in the first quarter valued at about $30,000. FSC Wealth Advisors LLC raised its holdings in shares of Dominion Energy by 149.6% in the third quarter. FSC Wealth Advisors LLC now owns 684 shares of the utilities provider’s stock valued at $31,000 after buying an additional 410 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Dominion Energy by 84.5% in the fourth quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock valued at $32,000 after buying an additional 310 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

Dominion Energy Price Performance

The stock has a fifty day moving average of $47.84 and a 200-day moving average of $46.25. 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 firm has a market capitalization of $42.71 billion, a P/E ratio of 21.90, a PEG ratio of 1.99 and a beta of 0.61.

Dominion Energy (NYSE:D) last announced its quarterly earnings data 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 firm 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%. Dominion Energy’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 earnings per share. Equities analysts predict that Dominion Energy, Inc. will post 2.86 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were given a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.67 dividend on an annualized basis and a yield of 5.24%. Dominion Energy’s payout ratio is 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.