Dominion Energy (NYSE:D) Trading 0.4% Higher After Analyst Upgrade

Dominion Energy, Inc. (NYSE:D) rose 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.

D has been the subject of a number of other research reports. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Mizuho lowered their price target on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. 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 report on Monday, March 11th. Wells Fargo & Company upped their target price on Dominion Energy from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, Barclays lowered their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.10.

Insider Activity

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 stock was purchased at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the acquisition, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Robert M. Blue bought 21,735 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased 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 $8,091,178.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph M. Rigby bought 2,130 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares in the company, valued at $395,093.98. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Dominion Energy

Hedge funds have recently made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new position in shares of Dominion Energy during the 4th quarter valued at about $29,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Dominion Energy during the 4th quarter valued at about $30,000. Rise Advisors LLC purchased a new position in shares of Dominion Energy during the 1st quarter valued at about $30,000. FSC Wealth Advisors LLC raised its stake in shares of Dominion Energy by 149.6% during the 3rd quarter. FSC Wealth Advisors LLC now owns 684 shares of the utilities provider’s stock valued at $31,000 after buying an additional 410 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Dominion Energy by 84.5% during the 4th quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock valued at $32,000 after buying an additional 310 shares during the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Price Performance

The stock has a 50 day simple moving average of $47.84 and a two-hundred day simple moving average of $46.25. The firm has a market cap of $42.71 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.61. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Sell-side analysts expect that Dominion Energy, Inc. will post 2.86 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were paid a $0.6675 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a dividend yield of 5.24%. Dominion Energy’s dividend payout ratio is presently 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.