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

Shares of Dominion Energy, Inc. (NYSE:D) shot up 0.4% during mid-day 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. 638,018 shares were traded during trading, a decline of 88% from the average session volume of 5,323,789 shares. The stock had previously closed at $50.67.

Several other research analysts have also recently weighed in on D. Wells Fargo & Company upped their price target on shares of Dominion Energy from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Scotiabank cut their price target on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday. BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Monday, March 11th. 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 report on Monday, March 4th. Finally, Mizuho decreased their target price on shares of Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.10.

Insider Buying and Selling

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

Institutional Trading of Dominion Energy

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC grew its holdings in Dominion Energy by 61.2% during the 1st quarter. V Square Quantitative Management LLC now owns 9,094 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 3,454 shares during the last quarter. Arlington Capital Management Inc. raised its stake in shares of Dominion Energy by 1.2% during the 1st quarter. Arlington Capital Management Inc. now owns 16,476 shares of the utilities provider’s stock worth $810,000 after acquiring an additional 197 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Dominion Energy by 14.4% during the 1st quarter. Premier Path Wealth Partners LLC now owns 7,248 shares of the utilities provider’s stock worth $357,000 after acquiring an additional 913 shares in the last quarter. Hartford Financial Management Inc. increased its stake in Dominion Energy by 1.8% during the 1st quarter. Hartford Financial Management Inc. now owns 46,983 shares of the utilities provider’s stock valued at $2,311,000 after purchasing an additional 848 shares in the last quarter. Finally, Dakota Wealth Management increased its stake in Dominion Energy by 41.1% during the 1st quarter. Dakota Wealth Management now owns 55,353 shares of the utilities provider’s stock valued at $2,723,000 after purchasing an additional 16,137 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Price Performance

The stock has a market cap of $42.93 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.99 and a beta of 0.61. The stock’s 50 day moving average price is $47.97 and its two-hundred day moving average price is $46.28. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Dominion Energy (NYSE:D) last announced its quarterly 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 return on equity of 8.83% and a net margin of 12.40%. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the company posted $1.06 earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Equities research analysts forecast that Dominion Energy, Inc. will post 2.86 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Thursday, February 29th. Dominion Energy’s payout ratio is 114.59%.

Dominion Energy Company Profile

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.