Evercore ISI Raises Dominion Energy (NYSE:D) Price Target to $53.00

Dominion Energy (NYSE:D) had its target price upped by Evercore ISI from $47.00 to $53.00 in a research note published on Friday, Benzinga reports. They currently have an in-line rating on the utilities provider’s stock.

Several other equities analysts also recently issued reports on the stock. Barclays decreased their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a research note on Monday, April 15th. StockNews.com lowered shares of Dominion Energy from a hold rating to a sell rating in a research report on Friday, February 23rd. Mizuho increased their price target on shares of Dominion Energy from $45.00 to $52.00 and gave the company a neutral rating in a report on Friday. BMO Capital Markets lowered Dominion Energy from an outperform rating to a market perform rating and set a $49.00 price target on the stock. in a research note on Monday, March 11th. Finally, Scotiabank cut their price target on 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Dominion Energy currently has an average rating of Hold and an average price target of $50.73.

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $51.41 on Friday. The business has a 50-day moving average price of $48.76 and a 200 day moving average price of $46.83. The firm has a market cap of $43.06 billion, a PE ratio of 26.50, a P/E/G ratio of 3.43 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. Dominion Energy has a twelve month low of $39.18 and a twelve month high of $57.27.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Dominion Energy’s quarterly revenue was down 6.5% on a year-over-year basis. Sell-side analysts predict that Dominion Energy will post 2.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Dominion Energy

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of Dominion Energy by 631.2% in the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares during the last quarter. Capital Research Global Investors boosted its position in Dominion Energy by 136.5% in the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after buying an additional 10,370,768 shares in the last quarter. Norges Bank bought a new stake in Dominion Energy during the fourth quarter worth about $329,792,000. ClearBridge Investments Ltd acquired a new stake in shares of Dominion Energy during the fourth quarter worth approximately $214,220,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after acquiring an additional 1,928,823 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

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.