Dominion Energy (NYSE:D) Updates FY24 Earnings Guidance

Dominion Energy (NYSE:D) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.62-$2.87 for the period, compared to the consensus estimate of $2.82.

Dominion Energy Stock Performance

NYSE D opened at $51.40 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The firm’s fifty day moving average price is $48.67 and its two-hundred day moving average price is $46.68. Dominion Energy has a 1 year low of $39.18 and a 1 year high of $57.27. The firm has a market capitalization of $43.05 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.46%. The company’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, research analysts anticipate that Dominion Energy will post 2.75 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on D shares. StockNews.com downgraded shares of Dominion Energy from a hold rating to a sell rating in a research note on Friday, February 23rd. Wells Fargo & Company raised their price target on shares of Dominion Energy from $51.00 to $55.00 and gave the company an equal weight rating in a research note on Friday. Scotiabank reduced their price target 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, April 22nd. Barclays dropped their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a report on Monday, April 15th. Finally, Guggenheim dropped their price objective on shares of Dominion Energy from $57.00 to $52.00 and set a buy rating for the company in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy has an average rating of Hold and an average price target of $50.45.

Insider Buying and Selling at Dominion Energy

In related news, Director Joseph M. Rigby purchased 2,130 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the acquisition, the director now owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The stock was bought at an average cost 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 in the company, valued at $8,091,178.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph M. Rigby purchased 2,130 shares of Dominion Energy 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 completion of the transaction, 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. Corporate insiders own 0.14% 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.