Dominion Energy (NYSE:D) Trading Down 2.2%

Dominion Energy, Inc. (NYSE:D)’s stock price fell 2.2% on Wednesday . The stock traded as low as $46.62 and last traded at $46.86. 3,467,500 shares were traded during trading, a decline of 26% from the average session volume of 4,664,948 shares. The stock had previously closed at $47.92.

Wall Street Analyst Weigh In

Several research firms recently weighed in on D. BMO Capital Markets lowered Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research report on Monday, March 11th. Mizuho dropped their target price on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Scotiabank decreased their price target on Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Finally, Guggenheim decreased their price target on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.10.

Dominion Energy Stock Performance

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 stock has a fifty day moving average price of $47.50 and a 200-day moving average price of $46.01. The firm has a market capitalization of $40.62 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.90 and a beta of 0.61.

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

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.67 dividend on an annualized basis and a yield of 5.51%. Dominion Energy’s dividend payout ratio is 114.59%.

Insider Activity at Dominion Energy

In other news, CEO Robert M. Blue acquired 21,735 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the transaction, the chief executive officer now directly owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph M. Rigby bought 2,130 shares of Dominion Energy 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 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. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Dominion Energy by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,065,766 shares of the utilities provider’s stock valued at $101,615,000 after purchasing an additional 14,456 shares during the period. Eagle Ridge Investment Management raised its holdings in Dominion Energy by 58.8% during the first quarter. Eagle Ridge Investment Management now owns 10,245 shares of the utilities provider’s stock worth $504,000 after acquiring an additional 3,792 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Dominion Energy by 65.3% during the first quarter. Hexagon Capital Partners LLC now owns 8,429 shares of the utilities provider’s stock worth $415,000 after acquiring an additional 3,330 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in Dominion Energy by 2.1% during the first quarter. Miracle Mile Advisors LLC now owns 17,665 shares of the utilities provider’s stock worth $869,000 after acquiring an additional 358 shares in the last quarter. Finally, Cobblestone Asset Management LLC raised its holdings in Dominion Energy by 12.1% during the first quarter. Cobblestone Asset Management LLC now owns 5,556 shares of the utilities provider’s stock worth $273,000 after acquiring an additional 600 shares in the last quarter. 73.04% of the stock is currently owned by 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.