Dominion Energy (NYSE:D) Given New $48.00 Price Target at Scotiabank

Dominion Energy (NYSE:D) had its price objective cut by Scotiabank from $49.00 to $48.00 in a report published on Monday morning, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price objective on Dominion Energy from $49.00 to $51.00 and gave the company an equal weight rating in a research note on Thursday, March 7th. StockNews.com lowered Dominion Energy from a hold rating to a sell rating in a report on Friday, February 23rd. BMO Capital Markets lowered Dominion Energy from an outperform rating to a market perform rating and set a $49.00 target price for the company. in a report on Monday, March 11th. Guggenheim lowered their target price on Dominion Energy from $57.00 to $52.00 and set a buy rating for the company in a report on Monday, March 4th. Finally, Barclays lowered their target price on Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Dominion Energy has an average rating of Hold and a consensus price target of $49.10.

Dominion Energy Trading Up 1.1 %

NYSE:D opened at $51.25 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04. Dominion Energy has a one year low of $39.18 and a one year high of $57.90. The business’s 50-day simple moving average is $47.97 and its 200 day simple moving average is $46.28. The stock has a market cap of $42.93 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.99 and a beta of 0.61.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm posted $1.06 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Dominion Energy will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a $0.6675 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.67 dividend on an annualized basis and a yield of 5.21%. Dominion Energy’s dividend payout ratio (DPR) is 114.59%.

Insiders Place Their Bets

In other news, Director Joseph M. Rigby bought 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph M. Rigby bought 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert M. Blue acquired 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $45.91 per share, with a total value of $997,853.85. Following the transaction, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.

Institutional Trading of Dominion Energy

A number of hedge funds have recently modified their holdings of the business. Criterion Capital Advisors LLC acquired a new position in shares of Dominion Energy in the fourth quarter worth $29,000. Rise Advisors LLC acquired a new position in Dominion Energy during the first quarter worth $30,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Dominion Energy during the fourth quarter worth $30,000. Venturi Wealth Management LLC grew its position in shares of Dominion Energy by 84.5% in the fourth quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 310 shares during the last quarter. Finally, FSC Wealth Advisors LLC grew its position in shares of Dominion Energy by 149.6% in the third quarter. FSC Wealth Advisors LLC now owns 684 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Company Profile

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.