Dominion Energy (NYSE:D) Shares Up 0.3% Following Analyst Upgrade

Shares of Dominion Energy, Inc. (NYSE:D) rose 0.3% during trading on Tuesday after Bank of America raised their price target on the stock from $40.00 to $43.00. Bank of America currently has an underperform rating on the stock. Dominion Energy traded as high as $51.11 and last traded at $50.80. Approximately 670,016 shares were traded during trading, a decline of 87% from the average daily volume of 5,333,042 shares. The stock had previously closed at $50.63.

A number of other analysts have also recently commented on D. Mizuho dropped their target price 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. Guggenheim lowered their price target on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Scotiabank lowered their price target on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday. BMO Capital Markets lowered Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research report on Monday, March 11th. Finally, Barclays decreased their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Dominion Energy has an average rating of “Hold” and an average price target of $49.10.

Insider Activity at Dominion Energy

In other news, Director Joseph M. Rigby acquired 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the purchase, the director now directly owns 8,417 shares in the company, valued at approximately $395,093.98. 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 purchased 2,130 shares of Dominion Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares in the company, valued at $395,093.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $45.91 per share, with a total value of $997,853.85. Following the completion of the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Institutional Trading of Dominion Energy

A number of institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Dominion Energy during the 3rd quarter worth about $397,000. Capital Investment Advisors LLC boosted its position in shares of Dominion Energy by 1.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 71,638 shares of the utilities provider’s stock worth $3,200,000 after acquiring an additional 881 shares in the last quarter. Impact Partnership Wealth LLC boosted its position in shares of Dominion Energy by 13,720.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,764 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 2,744 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Dominion Energy by 8.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 340,799 shares of the utilities provider’s stock worth $15,221,000 after acquiring an additional 25,190 shares in the last quarter. Finally, Park Place Capital Corp boosted its position in shares of Dominion Energy by 12.5% during the 3rd quarter. Park Place Capital Corp now owns 16,624 shares of the utilities provider’s stock worth $743,000 after acquiring an additional 1,841 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Trading Up 0.4 %

The company has a 50-day moving average price of $47.71 and a 200-day moving average price of $46.18. The firm has a market capitalization of $42.59 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.96 and a beta of 0.61. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04.

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 for the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 earnings per share. As a group, research analysts forecast that Dominion Energy, Inc. will post 2.86 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend payout ratio (DPR) is 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.