Dominion Energy (NYSE:D) Shares Down 2.3% Following Analyst Downgrade

Dominion Energy, Inc. (NYSE:D)’s stock price traded down 2.3% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $50.00 to $49.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as low as $46.75 and last traded at $46.83. 582,133 shares were traded during mid-day trading, a decline of 89% from the average session volume of 5,453,756 shares. The stock had previously closed at $47.92.

D has been the topic of a number of other reports. Mizuho reduced their price target on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Guggenheim lowered their price target on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. Scotiabank cut their price objective on shares of Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Finally, Wells Fargo & Company increased 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 report on Thursday, March 7th. One research analyst has 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 has a consensus rating of “Hold” and a consensus target price of $50.10.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in D. Pacific Center for Financial Services acquired a new position in shares of Dominion Energy during the 1st quarter worth approximately $28,000. Criterion Capital Advisors LLC purchased a new stake in Dominion Energy in the 4th quarter valued at $29,000. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Dominion Energy in the 4th quarter worth $30,000. Rise Advisors LLC acquired a new stake in shares of Dominion Energy in the 1st quarter worth $30,000. Finally, FSC Wealth Advisors LLC raised its holdings in shares of Dominion Energy by 149.6% during 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. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Price Performance

The stock has a market cap of $40.48 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.88 and a beta of 0.61. The stock’s fifty day moving average is $47.41 and its 200-day moving average is $45.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The business had revenue of $3.53 billion during 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 revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 earnings per share. As a group, equities analysts anticipate that Dominion Energy, Inc. will post 2.86 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were issued a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.67 annualized dividend and a yield of 5.52%. Dominion Energy’s dividend payout ratio (DPR) is presently 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.