Dominion Energy Inc. (D) Upgraded to “Buy” at Zacks Investment Research
Dominion Energy Inc. (NYSE:D) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, July 11th. The firm presently has a $85.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.86% from the stock’s current price.
According to Zacks, “Dominion Energy is enjoying the benefit of revenues from its regulated growth projects. Dominion’s Greensville County Power Station and Cove Point Liquefaction project are proceeding on time and budget. In addition, the company is also developing over 3 billion cubic feet per day of gas infrastructure projects. All these projects are likely to boost the performance of the company over the long term. Acquisition of Questar is also helping Dominion to expand operations. However, shares of Dominion Energy have returned lower than the broader industry in the last six months. The company bears risks associated with the operation of nuclear facilities. Moreover, unplanned outages at power stations could adversely impact operations. Lower solar tax credit and drop in margins in Millstone will adversely impact earnings this year.”
A number of other brokerages have also recently issued reports on D. Royal Bank Of Canada set a $77.00 target price on Dominion Energy and gave the stock a “hold” rating in a report on Saturday, June 3rd. Morgan Stanley lowered their target price on Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Barclays PLC reaffirmed an “overweight” rating and issued a $89.00 target price (up previously from $80.00) on shares of Dominion Energy in a report on Sunday, April 23rd. Deutsche Bank AG upped their target price on Dominion Energy from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, BidaskClub lowered Dominion Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $80.57.
Dominion Energy (NYSE D) opened at 78.08 on Tuesday. The firm’s 50-day moving average is $77.52 and its 200 day moving average is $77.14. The stock has a market capitalization of $49.04 billion, a P/E ratio of 22.59 and a beta of 0.28. Dominion Energy has a 12-month low of $69.51 and a 12-month high of $81.65.
Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Dominion Energy had a return on equity of 14.14% and a net margin of 17.48%. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. Dominion Energy’s revenue was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Dominion Energy will post $3.65 earnings per share for the current year.
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Several large investors have recently made changes to their positions in the stock. Tradewinds Capital Management LLC raised its stake in shares of Dominion Energy by 1.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,306 shares of the utilities provider’s stock valued at $101,000 after buying an additional 13 shares during the last quarter. Enterprise Financial Services Corp raised its stake in shares of Dominion Energy by 62.6% in the first quarter. Enterprise Financial Services Corp now owns 1,376 shares of the utilities provider’s stock valued at $107,000 after buying an additional 530 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Dominion Energy by 336.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,396 shares of the utilities provider’s stock valued at $107,000 after buying an additional 1,076 shares during the last quarter. Clean Yield Group acquired a new stake in shares of Dominion Energy during the first quarter valued at approximately $117,000. Finally, Bollard Group LLC raised its position in shares of Dominion Energy by 0.8% in the second quarter. Bollard Group LLC now owns 1,528 shares of the utilities provider’s stock valued at $117,000 after buying an additional 12 shares during the last quarter. Institutional investors own 66.18% of the company’s stock.
About Dominion Energy
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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