JPMorgan Chase & Co. lowered shares of Dominion Energy (NYSE:D) from an overweight rating to a neutral rating in a report released on Friday morning. JPMorgan Chase & Co. currently has $74.00 target price on the utilities provider’s stock.
A number of other equities analysts have also recently issued reports on the stock. Bank of America cut their target price on shares of Dominion Energy from $80.00 to $79.00 and set a buy rating for the company in a research report on Wednesday, February 7th. UBS initiated coverage on shares of Dominion Energy in a research report on Friday, February 2nd. They set a buy rating and a $85.00 target price for the company. Hilliard Lyons upgraded shares of Dominion Energy from a neutral rating to a buy rating and set a $86.00 target price for the company in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Dominion Energy from a hold rating to a buy rating and set a $85.00 target price for the company in a research report on Wednesday, January 17th. Finally, Morgan Stanley lifted their target price on shares of Dominion Energy from $85.00 to $87.00 and gave the stock an equal weight rating in a research report on Wednesday, December 13th. Thirteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. Dominion Energy presently has an average rating of Hold and an average target price of $81.36.
Shares of Dominion Energy (NYSE:D) traded down $0.63 during midday trading on Friday, hitting $70.61. 12,427,266 shares of the company traded hands, compared to its average volume of 3,682,469. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.45 and a quick ratio of 0.30. Dominion Energy has a 12-month low of $69.94 and a 12-month high of $85.30. The firm has a market capitalization of $46,414.62, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.49 and a beta of 0.23.
Dominion Energy (NYSE:D) last announced its quarterly earnings data on Monday, January 29th. The utilities provider reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Dominion Energy had a net margin of 24.92% and a return on equity of 12.67%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the business earned $0.99 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. research analysts forecast that Dominion Energy will post 4.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, March 1st. This is an increase from Dominion Energy’s previous quarterly dividend of $0.77. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.73%. Dominion Energy’s payout ratio is 68.02%.
In related news, Director Joseph M. Rigby bought 2,679 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $74.65 per share, for a total transaction of $199,987.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Harris sold 2,665 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $80.60, for a total transaction of $214,799.00. Following the completion of the sale, the director now owns 13,282 shares of the company’s stock, valued at $1,070,529.20. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in D. Johnson Financial Group Inc. lifted its position in shares of Dominion Energy by 146.8% during the third quarter. Johnson Financial Group Inc. now owns 1,345 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 800 shares in the last quarter. We Are One Seven LLC acquired a new position in shares of Dominion Energy during the fourth quarter worth $111,000. American Research & Management Co. lifted its position in shares of Dominion Energy by 159.7% during the fourth quarter. American Research & Management Co. now owns 1,423 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 875 shares in the last quarter. MHI Funds LLC acquired a new position in shares of Dominion Energy during the fourth quarter worth $119,000. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Dominion Energy by 160.8% during the third quarter. Chicago Partners Investment Group LLC now owns 1,565 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 65.33% of the company’s stock.
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About Dominion Energy
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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