Dominion Energy (NYSE:D) Reaches New 1-Year High – Time to Buy?

Dominion Energy Inc. (NYSE:D)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.91 and last traded at $63.7460, with a volume of 2147468 shares changing hands. The stock had previously closed at $62.36.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on D shares. TD Cowen began coverage on Dominion Energy in a research note on Friday, January 9th. They set a “hold” rating and a $65.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dominion Energy in a report on Monday, December 29th. Morgan Stanley lifted their price objective on shares of Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company cut their price objective on shares of Dominion Energy from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Finally, Barclays decreased their price objective on shares of Dominion Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Dominion Energy has an average rating of “Hold” and a consensus price target of $64.33.

Dominion Energy Stock Performance

The stock’s fifty day simple moving average is $59.64 and its two-hundred day simple moving average is $60.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.65 and a current ratio of 0.84. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.69 and a beta of 0.71.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 27th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, February 27th. Dominion Energy’s dividend payout ratio (DPR) is currently 90.82%.

Institutional Trading of Dominion Energy

Hedge funds have recently made changes to their positions in the company. CoreFirst Bank & Trust acquired a new stake in Dominion Energy in the second quarter valued at $25,000. Triumph Capital Management acquired a new stake in shares of Dominion Energy in the 3rd quarter valued at about $28,000. Westside Investment Management Inc. lifted its position in shares of Dominion Energy by 123.3% during the second quarter. Westside Investment Management Inc. now owns 469 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 259 shares during the last quarter. United Community Bank bought a new position in shares of Dominion Energy during the third quarter worth about $29,000. Finally, Blueline Advisors LLC acquired a new position in Dominion Energy in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Company Profile

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.