Dominion Energy, Inc. (NYSE:D – Get Rating) – KeyCorp upped their Q3 2023 earnings estimates for Dominion Energy in a research report issued to clients and investors on Friday, May 19th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $1.08 per share for the quarter, up from their prior estimate of $1.04. The consensus estimate for Dominion Energy’s current full-year earnings is $3.80 per share. KeyCorp also issued estimates for Dominion Energy’s FY2023 earnings at $3.76 EPS and FY2027 earnings at $4.45 EPS.
A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets lowered their target price on shares of Dominion Energy from $66.00 to $61.00 and set an “outperform” rating on the stock in a report on Monday, February 27th. Bank of America dropped their target price on shares of Dominion Energy from $54.00 to $52.00 in a research report on Tuesday, May 16th. UBS Group dropped their target price on shares of Dominion Energy from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 7th. Guggenheim dropped their target price on shares of Dominion Energy from $69.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, February 28th. Finally, Credit Suisse Group lowered their price target on shares of Dominion Energy from $67.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, February 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Dominion Energy has an average rating of “Hold” and an average target price of $63.55.
Dominion Energy Stock Performance
Dominion Energy (NYSE:D – Get Rating) last announced its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $4.46 billion. Dominion Energy had a net margin of 7.05% and a return on equity of 12.67%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 earnings per share.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in D. Vanguard Group Inc. raised its position in Dominion Energy by 3.9% in the third quarter. Vanguard Group Inc. now owns 73,953,046 shares of the utilities provider’s stock worth $5,110,895,000 after acquiring an additional 2,767,626 shares during the period. BlackRock Inc. increased its stake in shares of Dominion Energy by 3.1% in the first quarter. BlackRock Inc. now owns 60,976,169 shares of the utilities provider’s stock worth $3,409,178,000 after purchasing an additional 1,826,440 shares in the last quarter. State Street Corp increased its stake in shares of Dominion Energy by 3.9% in the third quarter. State Street Corp now owns 49,478,314 shares of the utilities provider’s stock worth $3,419,446,000 after purchasing an additional 1,853,875 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Dominion Energy by 9.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 30,771,075 shares of the utilities provider’s stock valued at $2,126,590,000 after acquiring an additional 2,763,501 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Dominion Energy by 50.4% during the first quarter. JPMorgan Chase & Co. now owns 17,980,124 shares of the utilities provider’s stock valued at $1,005,266,000 after acquiring an additional 6,028,220 shares in the last quarter. Institutional investors own 70.30% of the company’s stock.
Dominion Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 2nd will be given a dividend of $0.6675 per share. The ex-dividend date is Thursday, June 1st. This represents a $2.67 dividend on an annualized basis and a yield of 5.12%. Dominion Energy’s dividend payout ratio (DPR) is 186.71%.
About Dominion Energy
Dominion Energy, Inc engages in the production and distribution of energy. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets, and Corporate and Other. The Corporate and Other segment focuses on corporate, service company, non-controlling interest in Dominion privatization, and non-regulated retail energy marketing operations.
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