Dominion Energy, Inc. (NYSE:D) Forecasted to Post Q2 2024 Earnings of $0.55 Per Share

Dominion Energy, Inc. (NYSE:D) – Investment analysts at KeyCorp issued their Q2 2024 earnings estimates for shares of Dominion Energy in a report released on Sunday, July 21st. KeyCorp analyst S. Karp expects that the utilities provider will post earnings of $0.55 per share for the quarter. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share. KeyCorp also issued estimates for Dominion Energy’s Q3 2024 earnings at $1.00 EPS, Q4 2024 earnings at $0.67 EPS and FY2028 earnings at $4.05 EPS.

Several other research firms have also commented on D. Evercore ISI raised their target price on shares of Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Barclays cut their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. StockNews.com upgraded shares of Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $54.00 in a research report on Friday, May 10th. Finally, BMO Capital Markets dropped their target price on shares of Dominion Energy from $52.00 to $51.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Dominion Energy currently has an average rating of “Hold” and an average price target of $51.64.

Dominion Energy Price Performance

D stock opened at $52.30 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. Dominion Energy has a 12 month low of $39.18 and a 12 month high of $54.74. The firm has a market cap of $43.81 billion, a P/E ratio of 26.96, a P/E/G ratio of 1.36 and a beta of 0.58. The company’s 50-day moving average price is $51.17 and its two-hundred day moving average price is $49.10.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the company earned $0.99 EPS. The business’s revenue was down 6.5% on a year-over-year basis.

Institutional Trading of Dominion Energy

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Dominion Energy by 58.9% during the fourth quarter. SG Americas Securities LLC now owns 47,365 shares of the utilities provider’s stock valued at $2,226,000 after purchasing an additional 17,565 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Dominion Energy by 39.5% in the fourth quarter. HB Wealth Management LLC now owns 21,440 shares of the utilities provider’s stock worth $1,008,000 after purchasing an additional 6,072 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Dominion Energy in the fourth quarter valued at about $250,000. Assenagon Asset Management S.A. increased its position in shares of Dominion Energy by 196.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after acquiring an additional 259,978 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Dominion Energy in the fourth quarter valued at about $30,000. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were paid a $0.6675 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.67 annualized dividend and a dividend yield of 5.11%. Dominion Energy’s payout ratio is 137.63%.

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.