Traders Buy Dominion Energy (D) on Weakness

Investors bought shares of Dominion Energy Inc. (NYSE:D) on weakness during trading hours on Thursday. $120.61 million flowed into the stock on the tick-up and $66.48 million flowed out of the stock on the tick-down, for a money net flow of $54.13 million into the stock. Of all equities tracked, Dominion Energy had the 14th highest net in-flow for the day. Dominion Energy traded down ($0.61) for the day and closed at $74.89

A number of equities analysts have weighed in on D shares. JPMorgan Chase & Co. upped their price target on Dominion Energy from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. KeyCorp reiterated a “hold” rating on shares of Dominion Energy in a research note on Friday, October 20th. Zacks Investment Research upgraded Dominion Energy from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, October 3rd. Bank of America assumed coverage on Dominion Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $80.00 target price for the company. Finally, Gabelli reiterated a “hold” rating on shares of Dominion Energy in a research note on Wednesday, November 1st. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $82.10.

The company has a market cap of $48,260.00, a P/E ratio of 22.12, a P/E/G ratio of 2.93 and a beta of 0.30. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.29 and a current ratio of 0.47.

Dominion Energy (NYSE:D) last released its earnings results on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.02. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Dominion Energy had a return on equity of 13.32% and a net margin of 17.21%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. research analysts anticipate that Dominion Energy Inc. will post 3.6 earnings per share for the current fiscal year.

In related news, Director John W. Harris sold 5,616 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $80.71, for a total transaction of $453,267.36. Following the sale, the director now directly owns 18,920 shares of the company’s stock, valued at approximately $1,527,033.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Dominion Energy by 2.7% in the second quarter. Vanguard Group Inc. now owns 44,796,520 shares of the utilities provider’s stock worth $3,432,756,000 after buying an additional 1,194,152 shares during the period. Wells Fargo & Company MN increased its position in Dominion Energy by 4.0% in the third quarter. Wells Fargo & Company MN now owns 6,355,070 shares of the utilities provider’s stock worth $488,896,000 after buying an additional 244,870 shares during the period. Legal & General Group Plc increased its position in Dominion Energy by 6.0% in the third quarter. Legal & General Group Plc now owns 4,475,084 shares of the utilities provider’s stock worth $344,260,000 after buying an additional 253,699 shares during the period. Commonwealth Bank of Australia increased its position in Dominion Energy by 0.9% in the third quarter. Commonwealth Bank of Australia now owns 4,247,763 shares of the utilities provider’s stock worth $325,607,000 after buying an additional 36,643 shares during the period. Finally, Epoch Investment Partners Inc. increased its position in Dominion Energy by 24.1% in the third quarter. Epoch Investment Partners Inc. now owns 3,527,979 shares of the utilities provider’s stock worth $271,408,000 after buying an additional 684,637 shares during the period. 64.50% of the stock is currently owned by institutional investors and hedge funds.

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Dominion Energy Company Profile

Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.

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