JPMorgan Chase & Co. upgraded shares of Dominion Energy (NYSE:D) from a neutral rating to an overweight rating in a research report report published on Tuesday morning, Marketbeat.com reports. They currently have $78.00 target price on the utilities provider’s stock.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Dominion Energy from a hold rating to a buy rating and set a $80.00 target price for the company in a report on Tuesday, September 18th. Wells Fargo & Co reaffirmed a hold rating and issued a $76.00 price target (up from $73.00) on shares of Dominion Energy in a research report on Monday, September 17th. Howard Weil started coverage on Dominion Energy in a research report on Tuesday, July 24th. They issued a sector perform rating on the stock. Scotiabank started coverage on Dominion Energy in a research report on Tuesday, July 24th. They issued a hold rating and a $167.00 price target on the stock. Finally, Argus lifted their price target on Dominion Energy from $74.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, September 19th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $84.42.
D opened at $71.37 on Tuesday. Dominion Energy has a twelve month low of $61.53 and a twelve month high of $85.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.52 and a quick ratio of 0.36. The company has a market capitalization of $45.95 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.82 and a beta of 0.23.
Dominion Energy (NYSE:D) last posted its earnings results on Wednesday, August 1st. The utilities provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Dominion Energy had a return on equity of 13.13% and a net margin of 23.69%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company earned $0.67 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts expect that Dominion Energy will post 4.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Friday, September 7th were given a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 4.68%. The ex-dividend date was Thursday, September 6th. Dominion Energy’s dividend payout ratio is currently 92.78%.
In other news, Director John W. Harris acquired 10,000 shares of the stock in a transaction dated Tuesday, August 28th. The shares were acquired at an average cost of $71.15 per share, for a total transaction of $711,500.00. Following the completion of the transaction, the director now owns 17,495 shares in the company, valued at approximately $1,244,769.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Dominion Energy by 0.3% during the second quarter. Victory Capital Management Inc. now owns 261,842 shares of the utilities provider’s stock valued at $17,852,000 after purchasing an additional 726 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Dominion Energy by 0.4% during the second quarter. Gulf International Bank UK Ltd now owns 207,769 shares of the utilities provider’s stock valued at $14,165,000 after purchasing an additional 737 shares during the period. Cahill Financial Advisors Inc. increased its position in shares of Dominion Energy by 17.8% during the second quarter. Cahill Financial Advisors Inc. now owns 5,035 shares of the utilities provider’s stock valued at $344,000 after purchasing an additional 760 shares during the period. Signature Financial Management Inc. increased its position in shares of Dominion Energy by 8.3% during the second quarter. Signature Financial Management Inc. now owns 10,072 shares of the utilities provider’s stock valued at $687,000 after purchasing an additional 771 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in shares of Dominion Energy by 2.5% during the second quarter. CHICAGO TRUST Co NA now owns 32,779 shares of the utilities provider’s stock valued at $2,234,000 after purchasing an additional 790 shares during the period. Institutional investors and hedge funds own 67.31% of the company’s stock.
About Dominion Energy
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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