Dominion Energy (NYSE:D) Updates FY24 Earnings Guidance

Dominion Energy (NYSE:D) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.62-$2.87 for the period, compared to the consensus earnings per share estimate of $2.82.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $51.15 on Thursday. The company has a market capitalization of $42.84 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 3.41 and a beta of 0.59. The firm’s 50 day simple moving average is $48.48 and its 200 day simple moving average is $46.58. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97. Dominion Energy has a fifty-two week low of $39.18 and a fifty-two week high of $57.27.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $4.34 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. As a group, sell-side analysts forecast that Dominion Energy will post 2.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on D. Guggenheim dropped their target price on shares of Dominion Energy from $57.00 to $52.00 and set a buy rating on the stock in a report on Monday, March 4th. StockNews.com downgraded shares of Dominion Energy from a hold rating to a sell rating in a 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 on the stock. in a report on Monday, March 11th. Wells Fargo & Company lifted their price objective on shares of Dominion Energy from $49.00 to $51.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Finally, Bank of America lifted their price objective on shares of Dominion Energy from $40.00 to $43.00 and gave the company an underperform rating in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $49.10.

Insider Activity at Dominion Energy

In other news, Director Joseph M. Rigby bought 2,130 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Joseph M. Rigby acquired 2,130 shares of Dominion Energy 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 completion of the transaction, the director now directly 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 is available through this link. Also, CEO Robert M. Blue bought 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The stock was acquired 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 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 company insiders.

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.