Dominion Energy (NYSE:D) Trading Down 1.5% Following Analyst Downgrade

Dominion Energy, Inc. (NYSE:D)’s stock price traded down 1.5% during mid-day trading on Monday after Barclays lowered their price target on the stock from $50.00 to $49.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as low as $48.14 and last traded at $48.17. 766,260 shares were traded during mid-day trading, a decline of 86% from the average session volume of 5,470,732 shares. The stock had previously closed at $48.91.

Several other brokerages have also weighed in on D. Guggenheim decreased 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. StockNews.com downgraded shares of Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. BMO Capital Markets downgraded shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Monday, March 11th. Scotiabank dropped their target price on Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Finally, Wells Fargo & Company lifted their price target on Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.10.

Insider Buying and Selling

In related news, Director Joseph M. Rigby bought 2,130 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $395,093.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Dominion Energy news, CEO Robert M. Blue purchased 21,735 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost 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 approximately $8,091,178.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph M. Rigby acquired 2,130 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Dominion Energy by 631.2% during the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares in the last quarter. Capital Research Global Investors grew its stake in Dominion Energy by 136.5% during the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after buying an additional 10,370,768 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Dominion Energy by 93,554.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,865,509 shares of the utilities provider’s stock worth $604,953,000 after buying an additional 9,854,975 shares in the last quarter. Norges Bank bought a new position in shares of Dominion Energy in the fourth quarter valued at approximately $329,792,000. Finally, Dodge & Cox boosted its holdings in shares of Dominion Energy by 39.6% in the 4th quarter. Dodge & Cox now owns 22,800,383 shares of the utilities provider’s stock worth $1,071,618,000 after acquiring an additional 6,472,100 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Down 2.2 %

The firm has a fifty day moving average price of $47.34 and a 200 day moving average price of $45.97. The firm has a market capitalization of $39.24 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.92 and a beta of 0.61. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Dominion Energy, Inc. will post 2.86 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were given a dividend of $0.6675 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a dividend yield of 5.70%. Dominion Energy’s payout ratio is currently 114.59%.

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.