Bank of America Boosts Dominion Energy (NYSE:D) Price Target to $43.00

Dominion Energy (NYSE:D) had its price objective boosted by Bank of America from $40.00 to $43.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has an underperform rating on the utilities provider’s stock.

Several other equities research analysts also recently weighed in on D. Mizuho reduced their price objective on shares of 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 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 report on Monday, March 11th. Scotiabank reduced their price objective on shares of Dominion Energy from $49.00 to $48.00 and set a sector perform rating for the company in a report on Monday. Guggenheim reduced 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. Finally, Wells Fargo & Company upped their price objective on shares of Dominion Energy from $49.00 to $51.00 and gave the stock an equal weight rating in a report on Thursday, March 7th. 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 stock has a consensus rating of Hold and a consensus target price of $49.10.

Dominion Energy Stock Down 0.5 %

Dominion Energy stock opened at $50.97 on Tuesday. The company has a 50-day simple moving average of $48.08 and a 200-day simple moving average of $46.31. The firm has a market capitalization of $42.69 billion, a P/E ratio of 21.88, a P/E/G ratio of 3.45 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 has a one year low of $39.18 and a one year high of $57.90.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.11). The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 EPS. As a group, equities analysts expect that Dominion Energy will post 2.73 earnings per share for the current year.

Insider Buying and Selling at Dominion Energy

In other news, Director Joseph M. Rigby acquired 2,130 shares of Dominion Energy stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the purchase, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Joseph M. Rigby acquired 2,130 shares of Dominion Energy stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the purchase, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert M. Blue acquired 21,735 shares of Dominion Energy stock in a transaction 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 completion of the purchase, the chief executive officer now directly owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Dominion Energy

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Dominion Energy by 631.2% in the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after purchasing an additional 14,105,237 shares during the period. Capital Research Global Investors increased its holdings in shares of Dominion Energy by 136.5% in the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after purchasing an additional 10,370,768 shares during the period. Norges Bank acquired a new position in shares of Dominion Energy in the 4th quarter valued at about $329,792,000. ClearBridge Investments Ltd acquired a new position in shares of Dominion Energy in the 4th quarter valued at about $214,220,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Dominion Energy by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after purchasing an additional 1,928,823 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

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.