Dominion Energy Inc. (NYSE:D) Stock Has Average Price Target of $69.33 According to Brokerages
by Mitch Edgeman · The Markets DailyDominion Energy Inc. (NYSE:D – Get Free Report) has been given an average recommendation of “Hold” by the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $69.33.
D has been the topic of a number of recent research reports. Jefferies Financial Group dropped their target price on Dominion Energy from $79.00 to $71.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Evercore upped their price target on Dominion Energy from $67.00 to $70.00 in a report on Thursday, October 8th. Scotiabank lowered their price target on Dominion Energy from $67.00 to $63.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 30th. UBS Group set a $80.00 price objective on Dominion Energy in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company raised shares of Dominion Energy to a “strong-buy” rating in a report on Thursday, September 24th.
Read Our Latest Stock Report on D
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in D. Aberdeen Group plc grew its position in shares of Dominion Energy by 4.7% during the 3rd quarter. Aberdeen Group plc now owns 276,025 shares of the utilities provider’s stock valued at $16,705,000 after purchasing an additional 12,298 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Dominion Energy by 6.9% in the third quarter. Valmark Advisers Inc. now owns 24,264 shares of the utilities provider’s stock worth $1,468,000 after purchasing an additional 1,570 shares during the period. Allworth Financial LP increased its holdings in shares of Dominion Energy by 6.3% in the third quarter. Allworth Financial LP now owns 31,922 shares of the utilities provider’s stock worth $1,932,000 after purchasing an additional 1,884 shares during the period. Fisher Asset Management LLC raised its position in shares of Dominion Energy by 17.0% in the third quarter. Fisher Asset Management LLC now owns 16,819 shares of the utilities provider’s stock worth $1,018,000 after buying an additional 2,438 shares in the last quarter. Finally, PBU The Pension Fund of Early Childhood & Youth Educators raised its position in shares of Dominion Energy by 8.9% in the third quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 375,831 shares of the utilities provider’s stock worth $22,745,000 after buying an additional 30,721 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.
Key Dominion Energy News
Here are the key news stories impacting Dominion Energy this week:
- Positive Sentiment: Dominion and NextEra have offered additional customer protections as Virginia’s review advances. The concessions could help move the merger forward, though approval is not assured. NextEra, Dominion strengthen proposed merger with additional customer protections
- Positive Sentiment: Loudoun County approved a Dominion substation despite lingering concerns, supporting the company’s ability to expand infrastructure for growing electricity demand, including from data centers. Loudoun approves Dominion substation despite lingering concerns
- Positive Sentiment: Recent offshore-wind progress and increased contracted data-center capacity could support future earnings and cash flows. Dominion’s strong three-year share-price performance, however, raises the bar for continued earnings growth. Dominion Energy (D) Stock Looks In Line Following Offshore Wind Progress
- Neutral Sentiment: Public hearings on the merger are underway, with debate focused on customer costs and protections. The outcome may affect both the transaction’s prospects and the regulatory framework for utilities serving fast-growing power demand. Packed SCC hearing draws strong opinions over proposed Energy merger
- Negative Sentiment: Dominion and NextEra accepted some proposed merger protections but rejected a rate and staffing freeze. That stance could fuel opposition and leave uncertainty over whether regulators will approve the deal and on what terms. Dominion-NextEra accept some proposed protections in Va. merger case, rejects rate and staffing freeze
- Negative Sentiment: Families are pushing back against a proposed Dominion transmission-line project, creating potential permitting or construction delays for planned infrastructure. Families push back against proposed Dominion Energy Transmission Line Project
Dominion Energy Trading Down 0.0%
D opened at $68.58 on Wednesday. Dominion Energy has a fifty-two week low of $55.85 and a fifty-two week high of $72.99. The firm has a market capitalization of $60.32 billion, a PE ratio of 22.78, a P/E/G ratio of 3.18 and a beta of 0.62. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.88 and a quick ratio of 0.69. The company’s 50-day moving average is $63.95 and its 200 day moving average is $64.98.
Dominion Energy (NYSE:D – Get Free Report) last released its quarterly earnings results on Friday, October 30th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The business had revenue of $5.62 billion during the quarter, compared to the consensus estimate of $4.90 billion. Dominion Energy had a return on equity of 10.09% and a net margin of 13.99%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. As a group, research analysts predict that Dominion Energy will post 3.59 earnings per share for the current fiscal year.
Dominion Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 20th. Stockholders of record on Friday, December 4th will be issued a $0.6675 dividend. The ex-dividend date is Friday, December 4th. This represents a $2.67 annualized dividend and a dividend yield of 3.9%. Dominion Energy’s dividend payout ratio is currently 88.70%.
About Dominion Energy
Dominion Energy, Inc (NYSE: D) is an energy company focused primarily on regulated electric and natural gas utility services. Its businesses generate, transmit and distribute electricity and deliver natural gas to residential, commercial and industrial customers.
The company’s electric utility operations serve customers in Virginia and northeastern North Carolina, as well as parts of South Carolina through Dominion Energy South Carolina. Its power portfolio includes nuclear, natural gas, solar and other energy sources.
Dominion traces its roots to 1909 and adopted the Dominion Energy name in 2017.
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