Dominion Energy (NYSE:D) PT Lowered to $48.00 at Scotiabank

Dominion Energy (NYSE:D) had its price objective reduced by Scotiabank from $49.00 to $48.00 in a report issued on Monday, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

Several other research firms have also issued reports on D. Barclays lowered their price target on Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a research report on Monday, April 15th. Mizuho cut their price target on Dominion Energy from $47.00 to $45.00 and set a neutral rating for the company in a research note on Wednesday, March 6th. Wells Fargo & Company boosted their price target on Dominion Energy from $49.00 to $51.00 and gave the company an equal weight rating in a research note on Thursday, March 7th. Guggenheim cut their price objective on Dominion Energy from $57.00 to $52.00 and set a buy rating for the company in a research note on Monday, March 4th. Finally, StockNews.com downgraded Dominion Energy from a hold rating to a sell rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $49.10.

Dominion Energy Stock Performance

Shares of D stock opened at $51.25 on Monday. Dominion Energy has a 12 month low of $39.18 and a 12 month high of $57.90. The stock has a market cap of $42.93 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.99 and a beta of 0.61. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The company’s fifty day moving average price is $47.97 and its 200-day moving average price is $46.28.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities analysts expect that Dominion Energy will post 2.86 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

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

Insider Transactions at Dominion Energy

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

Institutional Investors Weigh In On Dominion Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in D. Wellington Management Group LLP raised its stake in Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after buying an additional 14,105,237 shares during the last quarter. Capital Research Global Investors grew its holdings in Dominion Energy by 136.5% in the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after purchasing an additional 10,370,768 shares during the period. Norges Bank acquired a new stake in Dominion Energy in the fourth quarter valued at approximately $329,792,000. ClearBridge Investments Ltd acquired a new stake in Dominion Energy in the fourth quarter valued at approximately $214,220,000. Finally, JPMorgan Chase & Co. grew its holdings in Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after purchasing an additional 1,928,823 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

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.