Dominion Energy (NYSE:D) Announces Earnings Results

Dominion Energy (NYSE:D) posted its earnings results on Thursday. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04, RTT News reports. Dominion Energy had a return on equity of 7.46% and a net margin of 11.57%. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. Dominion Energy’s revenue was down 6.5% on a year-over-year basis. Dominion Energy updated its FY24 guidance to $2.62-$2.87 EPS.

Dominion Energy Stock Performance

NYSE:D opened at $51.40 on Friday. 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 $57.27. The stock has a 50-day moving average price of $48.67 and a 200 day moving average price of $46.68. The stock has a market capitalization of $43.05 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.43 and a beta of 0.59.

Insider Buying and Selling

In other Dominion Energy news, Director Joseph M. Rigby bought 2,130 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased 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 owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Joseph M. Rigby purchased 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the acquisition, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction on Monday, March 4th. The shares were purchased 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 directly owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

D has been the topic of a number of recent research reports. Barclays lowered their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Scotiabank lowered their target price on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets downgraded Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research note on Monday, March 11th. Wells Fargo & Company raised their price objective on Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Bank of America raised their price objective on Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and a consensus target price of $50.45.

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.