Dominion Energy (NYSE:D) Price Target Raised to $64.00

Dominion Energy (NYSE:D) had its target price boosted by Barclays from $63.00 to $64.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of Dominion Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. BTIG Research assumed coverage on shares of Dominion Energy in a report on Wednesday, October 22nd. They issued a “neutral” rating on the stock. Wells Fargo & Company began coverage on shares of Dominion Energy in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 price target on the stock. Evercore ISI started coverage on shares of Dominion Energy in a research note on Tuesday, October 7th. They set an “in-line” rating and a $67.00 price objective for the company. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of Dominion Energy in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.75.

Dominion Energy Trading Down 1.2%

NYSE:D opened at $59.39 on Wednesday. Dominion Energy has a 12-month low of $48.07 and a 12-month high of $62.87. The company has a current ratio of 0.84, a quick ratio of 0.65 and a debt-to-equity ratio of 1.41. The stock’s 50 day simple moving average is $60.40 and its 200-day simple moving average is $59.30. The firm has a market cap of $50.72 billion, a P/E ratio of 20.20, a PEG ratio of 1.72 and a beta of 0.70.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Friday, October 31st. The utilities provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Dominion Energy had a return on equity of 9.60% and a net margin of 16.17%.The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. Equities analysts anticipate that Dominion Energy will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 20th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.6675 per share. The ex-dividend date is Friday, December 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.5%. Dominion Energy’s dividend payout ratio (DPR) is currently 90.82%.

Institutional Investors Weigh In On Dominion Energy

Large investors have recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new position in shares of Dominion Energy during the 2nd quarter valued at approximately $25,000. Triumph Capital Management bought a new stake in shares of Dominion Energy in the third quarter worth $28,000. Westside Investment Management Inc. raised its holdings in Dominion Energy by 123.3% in the second quarter. Westside Investment Management Inc. now owns 469 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 259 shares in the last quarter. United Community Bank bought a new position in Dominion Energy during the 3rd quarter valued at $29,000. Finally, JPL Wealth Management LLC acquired a new position in Dominion Energy during the 3rd quarter worth $30,000. 73.04% of the stock is owned by institutional investors and hedge funds.

About Dominion Energy

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.