Dominion Energy (NYSE:D) Shares Up 0.3% Following Analyst Upgrade

Dominion Energy, Inc. (NYSE:D) shot up 0.3% during mid-day trading on Tuesday 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 $51.11 and last traded at $50.80. 670,016 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 5,333,042 shares. The stock had previously closed at $50.63.

A number of other analysts have also recently issued reports on the company. Barclays decreased their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Guggenheim decreased their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, March 4th. StockNews.com cut Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Scotiabank decreased their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, BMO Capital Markets cut 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $49.10.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Godsey & Gibb Inc. boosted its holdings in Dominion Energy by 22.4% in the first quarter. Godsey & Gibb Inc. now owns 357,489 shares of the utilities provider’s stock valued at $17,585,000 after acquiring an additional 65,465 shares during the last quarter. Precedent Wealth Partners LLC boosted its holdings in Dominion Energy by 30.8% in the first quarter. Precedent Wealth Partners LLC now owns 7,792 shares of the utilities provider’s stock valued at $383,000 after acquiring an additional 1,835 shares during the last quarter. United Asset Strategies Inc. boosted its holdings in Dominion Energy by 107.7% in the first quarter. United Asset Strategies Inc. now owns 18,034 shares of the utilities provider’s stock valued at $887,000 after acquiring an additional 9,353 shares during the last quarter. Spectrum Asset Management Inc. NB CA acquired a new position in Dominion Energy in the first quarter valued at $758,000. Finally, Oak Harbor Wealth Partners LLC boosted its holdings in Dominion Energy by 4.4% in the first quarter. Oak Harbor Wealth Partners LLC now owns 9,507 shares of the utilities provider’s stock valued at $468,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Performance

The stock has a 50 day simple moving average of $47.84 and a 200 day simple moving average of $46.25. The company has a market cap of $42.44 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.96 and a beta of 0.61. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Dominion Energy (NYSE:D) last issued 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 company had revenue of $3.53 billion for 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%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, analysts predict that Dominion Energy, Inc. will post 2.86 EPS for the current year.

Dominion Energy Announces Dividend

The firm 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. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend was Thursday, February 29th. 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.