Dominion Energy (NYSE:D) was downgraded by JPMorgan Chase from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, March 16th, MarketBeat.com reports. They currently have a $74.00 price target on the utilities provider’s stock. JPMorgan Chase’s price target points to a potential upside of 11.75% from the company’s previous close.
D has been the subject of several other reports. Hilliard Lyons raised Dominion Energy from a “neutral” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, January 30th. Bank of America raised Dominion Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 22nd. UBS cut Dominion Energy from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research note on Friday, March 16th. Morgan Stanley upped their price objective on Dominion Energy from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Zacks Investment Research raised Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Wednesday, January 17th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Dominion Energy presently has a consensus rating of “Hold” and an average price target of $78.21.
Dominion Energy stock traded down $1.12 during trading on Friday, reaching $66.22. 5,215,835 shares of the company were exchanged, compared to its average volume of 5,961,628. Dominion Energy has a 52-week low of $66.10 and a 52-week high of $85.30. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.30 and a current ratio of 0.45. The company has a market cap of $43,143.99, a price-to-earnings ratio of 18.39, a PEG ratio of 2.42 and a beta of 0.27.
Dominion Energy (NYSE:D) last posted its earnings results on Monday, January 29th. The utilities provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. Dominion Energy had a return on equity of 12.67% and a net margin of 24.92%. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. analysts predict that Dominion Energy will post 4.04 EPS for the current fiscal year.
In other Dominion Energy news, Director John W. Harris sold 2,665 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was 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 directly owns 13,282 shares of the company’s stock, valued at approximately $1,070,529.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph M. Rigby bought 2,679 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $74.65 per share, with a total value of $199,987.35. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Financial Counselors Inc. raised its stake in shares of Dominion Energy by 0.5% during the 3rd quarter. Financial Counselors Inc. now owns 138,902 shares of the utilities provider’s stock worth $10,686,000 after buying an additional 656 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Dominion Energy by 3.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 19,211 shares of the utilities provider’s stock worth $1,557,000 after buying an additional 682 shares in the last quarter. MUFG Americas Holdings Corp raised its stake in shares of Dominion Energy by 17.4% during the 3rd quarter. MUFG Americas Holdings Corp now owns 4,716 shares of the utilities provider’s stock worth $363,000 after buying an additional 700 shares in the last quarter. Van Hulzen Asset Management LLC raised its stake in shares of Dominion Energy by 1.9% during the 4th quarter. Van Hulzen Asset Management LLC now owns 38,011 shares of the utilities provider’s stock worth $3,081,000 after buying an additional 700 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. raised its stake in shares of Dominion Energy by 19.4% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 4,486 shares of the utilities provider’s stock worth $364,000 after buying an additional 730 shares in the last quarter. 65.29% of the stock is owned by institutional investors and hedge funds.
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Dominion Energy Company Profile
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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