Barclays Cuts Dominion Energy (NYSE:D) Price Target to $49.00

Dominion Energy (NYSE:D) had its target price reduced by Barclays from $50.00 to $49.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

D has been the topic of several other research reports. BMO Capital Markets downgraded shares of Dominion Energy from an outperform rating to a market perform rating and set a $49.00 price target on the stock. in a report on Monday, March 11th. Mizuho lowered their price target on shares of Dominion Energy from $47.00 to $45.00 and set a neutral rating on the stock in a report on Wednesday, March 6th. Scotiabank lowered their price target on shares of Dominion Energy from $50.00 to $49.00 and set a sector perform rating on the stock in a report on Monday, March 4th. StockNews.com downgraded shares of Dominion Energy from a hold rating to a sell rating in a report on Friday, February 23rd. Finally, Guggenheim lowered their price target on shares of Dominion Energy from $57.00 to $52.00 and set a buy rating on the stock in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $50.10.

Dominion Energy Stock Performance

Shares of NYSE D opened at $48.33 on Monday. The firm has a 50 day moving average of $47.41 and a 200 day moving average of $45.99. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $40.48 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.88 and a beta of 0.61. Dominion Energy has a 12-month low of $39.18 and a 12-month high of $58.64.

Dominion Energy (NYSE:D) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. On average, research analysts anticipate that Dominion Energy will post 2.86 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is 114.59%.

Insider Buying and Selling at Dominion Energy

In other news, Director Joseph M. Rigby acquired 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were 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 of the company’s stock, valued at approximately $395,093.98. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the acquisition, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph M. Rigby purchased 2,130 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Dominion Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Cornerstone Wealth Group LLC lifted its stake in Dominion Energy by 21.4% in the first quarter. Cornerstone Wealth Group LLC now owns 16,439 shares of the utilities provider’s stock worth $809,000 after acquiring an additional 2,902 shares during the period. Brown Miller Wealth Management LLC lifted its stake in Dominion Energy by 22.3% in the first quarter. Brown Miller Wealth Management LLC now owns 6,134 shares of the utilities provider’s stock worth $301,000 after acquiring an additional 1,118 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in Dominion Energy by 14.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 7,785 shares of the utilities provider’s stock worth $383,000 after acquiring an additional 974 shares during the period. Alpha Omega Wealth Management LLC lifted its stake in Dominion Energy by 4.4% in the first quarter. Alpha Omega Wealth Management LLC now owns 43,923 shares of the utilities provider’s stock worth $2,161,000 after acquiring an additional 1,865 shares during the period. Finally, Romano Brothers AND Company lifted its stake in Dominion Energy by 19.9% in the first quarter. Romano Brothers AND Company now owns 7,232 shares of the utilities provider’s stock worth $356,000 after acquiring an additional 1,200 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

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.