Dominion Energy (NYSE:D) Stock Price Up 0.4% on Analyst Upgrade

Dominion Energy, Inc. (NYSE:D)’s stock price was 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. Approximately 638,018 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 5,323,789 shares. The stock had previously closed at $50.67.

A number of other analysts have also commented on the company. BMO Capital Markets lowered Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a research report on Monday, March 11th. Mizuho decreased their target price on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. 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. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Finally, Scotiabank decreased their target price on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $49.10.

Insiders Place Their Bets

In related news, Director Joseph M. Rigby acquired 2,130 shares of the firm’s stock in a transaction 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 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 document filed with the SEC, which is accessible through this link. In other Dominion Energy news, CEO Robert M. Blue bought 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, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph M. Rigby bought 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The stock was acquired 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 $395,093.98. The disclosure for this purchase can be found here. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Dominion Energy

Several institutional investors have recently bought and sold shares of the company. Advocate Group LLC lifted its stake in Dominion Energy by 10.2% in the first quarter. Advocate Group LLC now owns 129,288 shares of the utilities provider’s stock valued at $6,360,000 after purchasing an additional 11,948 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Dominion Energy by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,491 shares of the utilities provider’s stock valued at $12,764,000 after purchasing an additional 14,880 shares during the last quarter. MTM Investment Management LLC purchased a new position in Dominion Energy in the first quarter valued at approximately $207,000. Valeo Financial Advisors LLC lifted its stake in Dominion Energy by 71.0% in the first quarter. Valeo Financial Advisors LLC now owns 18,829 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 7,818 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Dominion Energy by 4.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 231,764 shares of the utilities provider’s stock valued at $11,400,000 after purchasing an additional 9,428 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Down 0.5 %

The firm has a market cap of $42.69 billion, a PE ratio of 21.88, a P/E/G ratio of 2.00 and a beta of 0.61. The firm has a 50 day moving average of $48.08 and a 200 day moving average of $46.31. 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 posted its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations 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 was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 EPS. Equities analysts anticipate that Dominion Energy, Inc. will post 2.84 earnings per share for the current year.

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.