Dominion Energy (NYSE:D) Raised to “Neutral” at Bank of America

Dominion Energy (NYSE:D) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has a $54.00 price objective on the utilities provider’s stock, up from their previous price objective of $43.00. Bank of America‘s price target indicates a potential upside of 2.20% from the stock’s current price.

A number of other research analysts have also weighed in on D. Barclays dropped their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Mizuho lifted their target price on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Scotiabank dropped their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company upped their price target on shares of Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, StockNews.com downgraded Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.73.

Dominion Energy Stock Performance

D opened at $52.84 on Friday. The firm has a market capitalization of $44.26 billion, a PE ratio of 27.24, a PEG ratio of 3.43 and a beta of 0.59. Dominion Energy has a 52-week low of $39.18 and a 52-week high of $57.02. The business’s 50-day simple moving average is $48.93 and its 200 day simple moving average is $46.95. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. As a group, sell-side analysts expect that Dominion Energy will post 2.75 earnings per share for the current fiscal year.

Insider Transactions at Dominion Energy

In other news, CEO Robert M. Blue bought 21,735 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the purchase, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Joseph M. Rigby purchased 2,130 shares of the company’s 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 transaction, the director now directly owns 8,417 shares in the company, valued at approximately $395,093.98. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert M. Blue purchased 21,735 shares of the stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Dominion Energy

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after acquiring an additional 14,105,237 shares in the last quarter. Capital Research Global Investors lifted its position 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 acquiring an additional 10,370,768 shares in the last quarter. Norges Bank purchased a new stake in shares of Dominion Energy in the 4th quarter valued at approximately $329,792,000. ClearBridge Investments Ltd purchased a new stake in shares of Dominion Energy in the 4th quarter valued at approximately $214,220,000. Finally, JPMorgan Chase & Co. lifted its position 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 acquiring an additional 1,928,823 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

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.