Dominion Energy (NYSE:D) Releases FY24 Earnings Guidance

Dominion Energy (NYSE:D) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.62-$2.87 for the period, compared to the consensus earnings per share estimate of $2.82.

Dominion Energy Price Performance

Shares of NYSE:D opened at $51.40 on Friday. Dominion Energy has a fifty-two week low of $39.18 and a fifty-two week high of $57.27. The company’s 50-day moving average is $48.67 and its 200 day moving average is $46.68. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04. The company has a market capitalization of $43.05 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a return on equity of 7.46% and a net margin of 11.57%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Dominion Energy will post 2.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on D shares. BMO Capital Markets lowered shares of Dominion Energy from an outperform rating to a market perform rating and set a $49.00 price objective for the company. in a report on Monday, March 11th. Mizuho boosted their target price on Dominion Energy from $45.00 to $52.00 and gave the company a neutral rating in a research note on Friday. Guggenheim reduced their price target on Dominion Energy from $57.00 to $52.00 and set a buy rating on the stock in a research report on Monday, March 4th. Barclays lowered their price target on shares of Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a report on Monday, April 15th. Finally, Scotiabank reduced their price objective on shares of Dominion Energy from $49.00 to $48.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $50.45.

Insider Buying and Selling

In other Dominion Energy news, Director Joseph M. Rigby purchased 2,130 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the purchase, the director now directly owns 8,417 shares in the company, valued at $395,093.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Robert M. Blue purchased 21,735 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the acquisition, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph M. Rigby purchased 2,130 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by company insiders.

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.