Dominion Energy (NYSE:D) Issues FY24 Earnings Guidance

Dominion Energy (NYSE:D) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.62-$2.87 for the period, compared to the consensus EPS estimate of $2.82.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $51.40 on Friday. The business has a 50-day moving average of $48.67 and a 200 day moving average of $46.68. Dominion Energy has a 12 month low of $39.18 and a 12 month high of $57.27. The stock has a market capitalization of $43.05 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a return on equity of 7.46% and a net margin of 11.57%. Dominion Energy’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS. As a group, sell-side analysts forecast that Dominion Energy will post 2.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com lowered Dominion Energy from a hold rating to a sell rating in a research report on Friday, February 23rd. Evercore ISI increased their price target on Dominion Energy from $47.00 to $53.00 and gave the company an in-line rating in a research report on Friday. Barclays cut their target price on Dominion Energy from $50.00 to $49.00 and set an overweight rating on the stock in a research report on Monday, April 15th. Wells Fargo & Company raised their target price on Dominion Energy from $51.00 to $55.00 and gave the stock an equal weight rating in a research report on Friday. Finally, Scotiabank cut their target price on Dominion Energy from $49.00 to $48.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Dominion Energy presently has an average rating of Hold and an average price target of $50.45.

Insider Activity at Dominion Energy

In other news, CEO Robert M. Blue acquired 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $45.91 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Joseph M. Rigby acquired 2,130 shares of Dominion Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert M. Blue acquired 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, 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. Company insiders own 0.14% of the company’s stock.

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.