Bank of America Boosts Dominion Energy (NYSE:D) Price Target to $43.00

Dominion Energy (NYSE:D) had its price target boosted by equities researchers at Bank of America from $40.00 to $43.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s price objective points to a potential downside of 16.10% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Guggenheim lowered their target price on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Wells Fargo & Company lifted their target price on shares of Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Mizuho lowered their target price on shares of Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Finally, BMO Capital Markets cut shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $49.10.

Dominion Energy Trading Up 1.1 %

Shares of Dominion Energy stock opened at $51.25 on Tuesday. The company’s fifty day simple moving average is $47.97 and its 200-day simple moving average is $46.28. The stock has a market capitalization of $42.93 billion, a PE ratio of 22.00, a P/E/G ratio of 1.99 and a beta of 0.61. Dominion Energy has a 1-year low of $39.18 and a 1-year high of $57.90. 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 issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share 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 analysts’ expectations 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 quarter in the prior year, the business earned $1.06 EPS. As a group, equities analysts anticipate that Dominion Energy will post 2.86 earnings per share for the current year.

Insider Transactions at Dominion Energy

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

Hedge Funds Weigh In On Dominion Energy

Several hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in Dominion Energy by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 231,764 shares of the utilities provider’s stock valued at $11,400,000 after purchasing an additional 9,428 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Dominion Energy by 61.2% during the 1st quarter. V Square Quantitative Management LLC now owns 9,094 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 3,454 shares during the last quarter. Arlington Capital Management Inc. grew its holdings in Dominion Energy by 1.2% during the 1st quarter. Arlington Capital Management Inc. now owns 16,476 shares of the utilities provider’s stock valued at $810,000 after purchasing an additional 197 shares during the last quarter. Premier Path Wealth Partners LLC grew its holdings in Dominion Energy by 14.4% during the 1st quarter. Premier Path Wealth Partners LLC now owns 7,248 shares of the utilities provider’s stock valued at $357,000 after purchasing an additional 913 shares during the last quarter. Finally, Hartford Financial Management Inc. grew its holdings in Dominion Energy by 1.8% during the 1st quarter. Hartford Financial Management Inc. now owns 46,983 shares of the utilities provider’s stock valued at $2,311,000 after purchasing an additional 848 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

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.