Dominion Energy (NYSE:D) Shares Down 2.3% on Analyst Downgrade

Dominion Energy, Inc. (NYSE:D) was down 2.3% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $50.00 to $49.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as low as $46.75 and last traded at $46.83. Approximately 582,133 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 5,453,756 shares. The stock had previously closed at $47.92.

A number of other research analysts also recently commented on the stock. BMO Capital Markets downgraded shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Monday, March 11th. Mizuho lowered their target price on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Wells Fargo & Company raised their price objective on Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. StockNews.com downgraded shares of Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, Guggenheim cut their price objective on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $50.10.

Insiders Place Their Bets

In related news, CEO Robert M. Blue bought 21,735 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average price 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 $8,091,178.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Joseph M. Rigby bought 2,130 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the acquisition, 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 can be accessed through this hyperlink. Also, CEO Robert M. Blue acquired 21,735 shares of the business’s 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 acquisition, 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. 0.12% of the stock is currently owned by company insiders.

Institutional Trading of Dominion Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Diamond Hill Capital Management Inc. grew its position in shares of Dominion Energy by 5.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock worth $178,176,000 after acquiring an additional 199,629 shares during the last quarter. Assenagon Asset Management S.A. grew its position in 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 worth $18,451,000 after buying an additional 259,978 shares during the last quarter. CWM LLC raised its position in shares of Dominion Energy by 18.7% during the third quarter. CWM LLC now owns 553,557 shares of the utilities provider’s stock worth $24,727,000 after purchasing an additional 87,280 shares during the period. Morgan Stanley boosted its position in shares of Dominion Energy by 12.8% in the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after purchasing an additional 803,341 shares during the period. Finally, Diversified Trust Co raised its holdings in Dominion Energy by 97.3% during the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock worth $674,000 after buying an additional 7,071 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Stock Down 2.5 %

The business’s 50-day moving average price is $47.30 and its 200-day moving average price is $45.96. The firm has a market capitalization of $39.12 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.61. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. As a group, equities research analysts predict that Dominion Energy, Inc. will post 2.86 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 5.72%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 114.59%.

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.