Dominion Energy (NYSE:D) Sets New 12-Month High – Still a Buy?

Dominion Energy, Inc. (NYSE:D) reached a new 52-week high on Wednesday . The stock traded as high as $60.86 and last traded at $60.85, with a volume of 1364180 shares trading hands. The stock had previously closed at $60.00.

Wall Street Analyst Weigh In

D has been the topic of several research analyst reports. Scotiabank increased their price target on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Barclays upped their price objective on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets upped their price objective on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.40.

Dominion Energy Trading Down 2.0 %

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The stock’s fifty day moving average is $57.52 and its 200 day moving average is $53.62. The stock has a market cap of $49.90 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.60 and a beta of 0.60.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

Hedge Funds Weigh In On Dominion Energy

A number of institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC increased its holdings in Dominion Energy by 351.8% during the third quarter. Pathway Financial Advisers LLC now owns 48,176 shares of the utilities provider’s stock valued at $2,784,000 after buying an additional 37,514 shares during the period. Highview Capital Management LLC DE increased its holdings in Dominion Energy by 1.3% during the third quarter. Highview Capital Management LLC DE now owns 16,559 shares of the utilities provider’s stock valued at $957,000 after buying an additional 211 shares during the period. Eagle Strategies LLC purchased a new position in Dominion Energy during the third quarter valued at approximately $205,000. Fidelis Capital Partners LLC increased its holdings in Dominion Energy by 3.1% during the third quarter. Fidelis Capital Partners LLC now owns 9,266 shares of the utilities provider’s stock valued at $565,000 after buying an additional 280 shares during the period. Finally, Valmark Advisers Inc. increased its holdings in Dominion Energy by 7.3% during the third quarter. Valmark Advisers Inc. now owns 9,451 shares of the utilities provider’s stock valued at $546,000 after buying an additional 639 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

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.