Dominion Energy (NYSE:D) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Dominion Energy (NYSE:D) announced its earnings results on Thursday. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04, RTT News reports. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a return on equity of 7.46% and a net margin of 11.57%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. Dominion Energy updated its FY24 guidance to $2.62-$2.87 EPS.

Dominion Energy Trading Up 0.5 %

NYSE:D traded up $0.24 during trading hours on Friday, reaching $51.40. 3,741,756 shares of the company were exchanged, compared to its average volume of 4,113,876. The firm has a market cap of $43.05 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 3.42 and a beta of 0.59. The stock has a 50 day simple moving average of $48.60 and a 200 day simple moving average of $46.62. Dominion Energy has a 52-week low of $39.18 and a 52-week high of $57.27. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97.

Insider Transactions at Dominion Energy

In other news, CEO Robert M. Blue acquired 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average cost 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 in the company, valued at approximately $8,091,178.40. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Joseph M. Rigby bought 2,130 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the purchase, the director now owns 8,417 shares in the company, valued at $395,093.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the transaction, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

D has been the topic of several recent research reports. StockNews.com cut Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Mizuho increased their price target on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday. Barclays cut their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Evercore ISI boosted their price target on shares of Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Friday. Finally, Bank of America raised their price objective on shares of Dominion Energy from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.45.

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.