Dominion Energy (NYSE:D) Stock Price Up 0.4% on Analyst Upgrade

Dominion Energy, Inc. (NYSE:D) rose 0.4% during trading on Wednesday 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 $50.89 and last traded at $50.85. Approximately 638,018 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 5,323,789 shares. The stock had previously closed at $50.67.

A number of other equities research analysts have also issued reports on D. Scotiabank dropped their price objective on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday. StockNews.com lowered shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Monday, March 11th. Wells Fargo & Company raised their price objective 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. Finally, Guggenheim lowered their price objective on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Dominion Energy presently has a consensus rating of “Hold” and an average target price of $49.10.

Insiders Place Their Bets

In related news, CEO Robert M. Blue bought 21,735 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph M. Rigby purchased 2,130 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was 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 approximately $395,093.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert M. Blue bought 21,735 shares of the business’s 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 purchase, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in D. Criterion Capital Advisors LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth about $29,000. Moisand Fitzgerald Tamayo LLC purchased a new position in Dominion Energy in the 4th quarter worth approximately $30,000. Rise Advisors LLC purchased a new position in Dominion Energy in the 1st quarter worth approximately $30,000. FSC Wealth Advisors LLC boosted its holdings in Dominion Energy by 149.6% in the 3rd quarter. FSC Wealth Advisors LLC now owns 684 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 410 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Dominion Energy by 84.5% in the 4th quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Performance

The stock has a market cap of $42.69 billion, a PE ratio of 21.88, a PEG ratio of 2.00 and a beta of 0.61. The stock has a fifty day simple moving average of $48.08 and a two-hundred day simple moving average of $46.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04.

Dominion Energy (NYSE:D) last announced 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). Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts anticipate that Dominion Energy, Inc. will post 2.84 EPS for the current fiscal year.

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.