Dominion Energy (NYSE:D) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $76.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.65% from the company’s current price.
According to Zacks, “In last three months, shares of Dominion Energy have gained higher than its industry. Dominion Energy is benefiting from its regulated growth projects and synergies from Questar’s acquisition. The company’s expansion of electric transmission, natural gas facilities and midstream assets are strong positives. Its merger deal with SCANA is going to be immediately accretive to earnings and boost performance of the company. However, any delay in ongoing capital projects could adversely impact profitability of the company. Reduction in solar investment tax credits and share dilution may affect its future results. The company and its gas unit’s dependency upon third-party producers for natural gas supply increases risk.”
A number of other analysts have also issued reports on the stock. ValuEngine upgraded shares of Dominion Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 26th. JPMorgan Chase & Co. decreased their target price on shares of Dominion Energy from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Thursday, June 7th. Wells Fargo & Co decreased their target price on shares of Dominion Energy to $68.00 and set a “market perform” rating on the stock in a research report on Friday, April 13th. Bank of America decreased their target price on shares of Dominion Energy from $70.00 to $67.33 and set a “neutral” rating on the stock in a research report on Wednesday, April 4th. Finally, Hilliard Lyons set a $76.00 target price on shares of Dominion Energy and gave the stock a “buy” rating in a research report on Thursday, March 29th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Dominion Energy currently has an average rating of “Hold” and an average price target of $74.39.
D stock opened at $69.31 on Monday. The company has a market capitalization of $44.49 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.75 and a beta of 0.28. Dominion Energy has a 12 month low of $61.53 and a 12 month high of $85.30. The company has a current ratio of 0.46, a quick ratio of 0.31 and a debt-to-equity ratio of 1.55.
Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, April 27th. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.03 by $0.11. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.48 billion. Dominion Energy had a net margin of 23.74% and a return on equity of 12.88%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 earnings per share. equities analysts anticipate that Dominion Energy will post 4.08 EPS for the current fiscal year.
In other news, insider Thomas F. Farrell II purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The shares were purchased at an average price of $63.44 per share, with a total value of $253,760.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in D. Marco Investment Management LLC grew its holdings in Dominion Energy by 1.8% during the 4th quarter. Marco Investment Management LLC now owns 42,300 shares of the utilities provider’s stock worth $3,429,000 after acquiring an additional 750 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its holdings in Dominion Energy by 2.0% during the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 39,201 shares of the utilities provider’s stock worth $3,178,000 after acquiring an additional 775 shares in the last quarter. South State Corp grew its holdings in Dominion Energy by 2.0% during the 1st quarter. South State Corp now owns 40,654 shares of the utilities provider’s stock worth $2,741,000 after acquiring an additional 779 shares in the last quarter. Ancora Advisors LLC grew its holdings in Dominion Energy by 5.3% during the 1st quarter. Ancora Advisors LLC now owns 17,573 shares of the utilities provider’s stock worth $1,184,000 after acquiring an additional 886 shares in the last quarter. Finally, Keeler Thomas Management LLC grew its holdings in Dominion Energy by 17.3% during the 1st quarter. Keeler Thomas Management LLC now owns 6,100 shares of the utilities provider’s stock worth $411,000 after acquiring an additional 900 shares in the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.
About Dominion Energy
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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