Dominion Energy (NYSE:D) issued its quarterly earnings data on Thursday. The utilities provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02, MarketWatch Earnings reports. Dominion Energy had a return on equity of 13.13% and a net margin of 23.69%. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the business posted $1.04 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year.
Shares of D traded down $0.44 during midday trading on Friday, hitting $69.89. 4,719,156 shares of the company’s stock traded hands, compared to its average volume of 3,287,128. The firm has a market cap of $46.69 billion, a PE ratio of 18.08, a P/E/G ratio of 2.76 and a beta of 0.18. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.60. Dominion Energy has a 1 year low of $61.53 and a 1 year high of $85.30.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.835 per share. The ex-dividend date is Thursday, December 6th. This represents a $3.34 annualized dividend and a dividend yield of 4.78%. Dominion Energy’s dividend payout ratio is presently 92.78%.
In other news, Director John W. Harris bought 10,000 shares of Dominion Energy stock in a transaction that occurred on Tuesday, August 28th. The stock was bought at an average price of $71.15 per share, for a total transaction of $711,500.00. Following the purchase, the director now directly owns 17,495 shares of the company’s stock, valued at approximately $1,244,769.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.
A number of hedge funds have recently modified their holdings of D. CIBC World Markets Inc. raised its stake in Dominion Energy by 25.6% in the 1st quarter. CIBC World Markets Inc. now owns 7,793 shares of the utilities provider’s stock worth $525,000 after acquiring an additional 1,587 shares during the last quarter. Principal Financial Group Inc. grew its position in Dominion Energy by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 932,301 shares of the utilities provider’s stock worth $62,865,000 after purchasing an additional 11,234 shares during the period. Allianz Asset Management GmbH grew its position in Dominion Energy by 361.7% during the 1st quarter. Allianz Asset Management GmbH now owns 81,566 shares of the utilities provider’s stock worth $5,500,000 after purchasing an additional 63,901 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Dominion Energy during the 1st quarter worth about $380,000. Finally, Washington Trust Bank grew its position in Dominion Energy by 135.1% during the 2nd quarter. Washington Trust Bank now owns 6,743 shares of the utilities provider’s stock worth $460,000 after purchasing an additional 3,875 shares during the period. Institutional investors own 67.43% of the company’s stock.
D has been the subject of several analyst reports. Zacks Investment Research upgraded Dominion Energy from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Tuesday, August 7th. Guggenheim reiterated a “buy” rating and set a $77.00 price objective on shares of Dominion Energy in a report on Monday, July 23rd. Argus increased their price objective on Dominion Energy from $74.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, September 19th. They noted that the move was a valuation call. Macquarie set a $74.00 price objective on Dominion Energy and gave the company a “buy” rating in a report on Tuesday, September 25th. Finally, Barclays initiated coverage on Dominion Energy in a report on Monday, October 22nd. They set a “buy” rating and a $78.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Dominion Energy has an average rating of “Buy” and a consensus price target of $84.50.
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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