Dominion Energy (NYSE:D) Stock Price Up 0.3% After Analyst Upgrade

Shares of Dominion Energy, Inc. (NYSE:D) rose 0.3% during mid-day 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 changed hands 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 research analysts have also issued reports on the company. Barclays decreased their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Scotiabank decreased their target price on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday. Guggenheim decreased their target price on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. BMO Capital Markets lowered Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Monday, March 11th. Finally, StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.10.

Insider Buying and Selling at Dominion Energy

In other news, Director Joseph M. Rigby purchased 2,130 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $46.94 per share, with a total value of $99,982.20. Following the purchase, the director now directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph M. Rigby purchased 2,130 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $46.94 per share, with a total value of $99,982.20. Following the purchase, the director now directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert M. Blue acquired 21,735 shares of the business’s 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 directly owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Arlington Capital Management Inc. boosted its holdings in Dominion Energy by 1.2% during the first quarter. Arlington Capital Management Inc. now owns 16,476 shares of the utilities provider’s stock worth $810,000 after buying an additional 197 shares in the last quarter. Ridgewood Investments LLC boosted its holdings in Dominion Energy by 0.9% during the first quarter. Ridgewood Investments LLC now owns 24,536 shares of the utilities provider’s stock worth $1,207,000 after buying an additional 210 shares in the last quarter. Lantz Financial LLC boosted its holdings in Dominion Energy by 4.0% during the first quarter. Lantz Financial LLC now owns 5,823 shares of the utilities provider’s stock worth $286,000 after buying an additional 222 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Dominion Energy by 0.6% during the third quarter. Providence Capital Advisors LLC now owns 36,772 shares of the utilities provider’s stock worth $1,643,000 after buying an additional 228 shares in the last quarter. Finally, Seneca House Advisors lifted its position in shares of Dominion Energy by 2.0% in the 1st quarter. Seneca House Advisors now owns 11,355 shares of the utilities provider’s stock valued at $559,000 after acquiring an additional 228 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $42.93 billion, a PE ratio of 22.00, a PEG ratio of 1.99 and a beta of 0.61. The firm’s 50-day simple moving average is $47.97 and its two-hundred day simple moving average is $46.28.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $1.06 EPS. On average, equities research analysts expect that Dominion Energy, Inc. will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend payout ratio 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.