Dominion Energy (NYSE:D) Releases Q3 2022 Earnings Guidance

Dominion Energy (NYSE:DGet Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.98-$1.13 for the period, compared to the consensus estimate of $1.21. The company issued revenue guidance of -. Dominion Energy also updated its FY 2022 guidance to $3.95-$4.25 EPS.

Dominion Energy Stock Up 1.2 %

Dominion Energy stock traded up $0.99 during midday trading on Tuesday, reaching $82.38. The stock had a trading volume of 2,403,736 shares, compared to its average volume of 3,320,029. The firm’s fifty day simple moving average is $79.26 and its 200-day simple moving average is $81.38. Dominion Energy has a 1-year low of $70.37 and a 1-year high of $88.78. The stock has a market capitalization of $66.83 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 3.17 and a beta of 0.41. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.65 and a current ratio of 0.79.

Dominion Energy (NYSE:DGet Rating) last issued its earnings results on Monday, August 8th. The utilities provider reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.51 billion. Dominion Energy had a return on equity of 12.99% and a net margin of 20.81%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. As a group, analysts expect that Dominion Energy will post 4.11 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Friday, September 2nd will be given a dividend of $0.6675 per share. The ex-dividend date is Thursday, September 1st. This represents a $2.67 dividend on an annualized basis and a yield of 3.24%. Dominion Energy’s dividend payout ratio is currently 74.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho dropped their price target on Dominion Energy from $87.00 to $81.00 in a research note on Friday, July 15th. BMO Capital Markets increased their price objective on Dominion Energy from $87.00 to $91.00 and gave the stock an outperform rating in a research note on Tuesday. Barclays reduced their target price on Dominion Energy from $93.00 to $86.00 and set an equal weight rating for the company in a report on Monday, July 18th. KeyCorp increased their price objective on Dominion Energy from $90.00 to $92.00 and gave the company an overweight rating in a report on Wednesday, April 20th. Finally, Morgan Stanley increased their price objective on Dominion Energy from $78.00 to $84.00 and gave the stock an equal weight rating in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $85.14.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fund Management at Engine No. 1 LLC acquired a new position in Dominion Energy in the 1st quarter valued at about $583,000. Horizon Investments LLC raised its stake in shares of Dominion Energy by 17.2% in the 1st quarter. Horizon Investments LLC now owns 6,721 shares of the utilities provider’s stock valued at $571,000 after acquiring an additional 985 shares during the period. Eqis Capital Management Inc. increased its stake in Dominion Energy by 106.5% during the 1st quarter. Eqis Capital Management Inc. now owns 5,970 shares of the utilities provider’s stock worth $507,000 after buying an additional 3,079 shares during the period. Ethic Inc. purchased a new stake in Dominion Energy during the 1st quarter worth approximately $464,000. Finally, Merit Financial Group LLC purchased a new stake in Dominion Energy during the 1st quarter worth approximately $419,000. Hedge funds and other institutional investors own 68.39% of the company’s stock.

Dominion Energy Company Profile

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Dominion Energy, Inc produces and distributes energy in the United States. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.

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Earnings History and Estimates for Dominion Energy (NYSE:D)

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