Dominion Energy (NYSE:D) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Dominion Energy (NYSE:D) in a report issued on Friday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $65.00 target price on the utilities provider’s stock.

D has been the topic of several other research reports. Barclays lifted their price objective on Dominion Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. decreased their price target on shares of Dominion Energy from $62.00 to $59.00 and set an “underweight” rating on the stock in a research note on Thursday, December 11th. BTIG Research assumed coverage on shares of Dominion Energy in a research note on Wednesday, October 22nd. They issued a “neutral” rating for the company. Morgan Stanley raised their price objective on shares of Dominion Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Finally, BMO Capital Markets lowered their target price on shares of Dominion Energy from $67.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and an average price target of $64.78.

Dominion Energy Stock Performance

NYSE:D opened at $57.96 on Friday. The firm’s 50-day moving average is $59.76 and its 200-day moving average is $59.63. The company has a market cap of $49.50 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.65 and a current ratio of 0.84. Dominion Energy has a 52-week low of $48.07 and a 52-week high of $62.87.

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

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 20th. Stockholders of record on Friday, December 5th were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, December 5th. Dominion Energy’s payout ratio is presently 90.82%.

Hedge Funds Weigh In On Dominion Energy

Several institutional investors have recently bought and sold shares of the business. Barnes Wealth Management Group Inc grew its holdings in shares of Dominion Energy by 4.4% during the second quarter. Barnes Wealth Management Group Inc now owns 3,970 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 169 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in Dominion Energy by 1.2% during the 3rd quarter. Sovereign Financial Group Inc. now owns 14,138 shares of the utilities provider’s stock worth $865,000 after buying an additional 169 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Dominion Energy by 0.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 39,145 shares of the utilities provider’s stock worth $2,394,000 after acquiring an additional 169 shares during the last quarter. SPC Financial Inc. increased its position in Dominion Energy by 1.4% in the 2nd quarter. SPC Financial Inc. now owns 12,179 shares of the utilities provider’s stock valued at $688,000 after acquiring an additional 172 shares in the last quarter. Finally, Howard Capital Management Inc. raised its stake in shares of Dominion Energy by 3.3% in the third quarter. Howard Capital Management Inc. now owns 5,659 shares of the utilities provider’s stock worth $346,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Company Profile

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.