Seaport Res Ptn Brokers Boost Earnings Estimates for Dominion Energy, Inc. (NYSE:D)

Dominion Energy, Inc. (NYSE:D) – Research analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for shares of Dominion Energy in a research note issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $2.76 per share for the year, up from their prior estimate of $2.64. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.11). The company had revenue of $3.53 billion during 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%. Dominion Energy’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.06 EPS.

Other equities analysts have also recently issued reports about the stock. 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 research note on Monday, April 22nd. Bank of America lifted their price target on Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. Guggenheim decreased their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. StockNews.com cut Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, Barclays decreased their price target on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.10.

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $50.98 on Monday. The firm has a market cap of $42.70 billion, a PE ratio of 21.88, a PEG ratio of 3.37 and a beta of 0.61. The stock has a 50 day moving average of $48.39 and a 200 day moving average of $46.55. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. Dominion Energy has a 12 month low of $39.18 and a 12 month high of $57.65.

Institutional Investors Weigh In On Dominion Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. raised its holdings in shares of Dominion Energy by 5.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock worth $178,176,000 after buying an additional 199,629 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Dominion Energy by 196.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after purchasing an additional 259,978 shares during the last quarter. Morgan Stanley increased its holdings in shares of Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after purchasing an additional 803,341 shares during the period. International Assets Investment Management LLC raised its stake in shares of Dominion Energy by 1,797.9% in the fourth quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock worth $7,798,000 after purchasing an additional 157,175 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Dominion Energy by 97.3% in the fourth quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock worth $674,000 after purchasing an additional 7,071 shares during the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the acquisition, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Joseph M. Rigby bought 2,130 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the transaction, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert M. Blue bought 21,735 shares of the stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $45.91 per share, with a total value of $997,853.85. Following the completion of the purchase, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

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.