Dominion Energy, Inc. (NYSE:D) Sees Large Increase in Short Interest

Dominion Energy, Inc. (NYSE:D) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 24,850,000 shares, a growth of 20.7% from the April 30th total of 20,590,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average trading volume of 5,630,000 shares, the short-interest ratio is currently 4.4 days.

Wall Street Analyst Weigh In

Several brokerages recently commented on D. Morgan Stanley reduced their price objective on shares of Dominion Energy from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, May 22nd. UBS Group boosted their target price on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Argus upgraded shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Dominion Energy presently has an average rating of “Hold” and a consensus price target of $58.63.

Hedge Funds Weigh In On Dominion Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Cadence Bank grew its stake in shares of Dominion Energy by 2.0% during the fourth quarter. Cadence Bank now owns 9,561 shares of the utilities provider’s stock valued at $515,000 after buying an additional 189 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in Dominion Energy by 3.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 193 shares in the last quarter. Choate Investment Advisors grew its stake in Dominion Energy by 5.4% in the fourth quarter. Choate Investment Advisors now owns 3,880 shares of the utilities provider’s stock worth $209,000 after purchasing an additional 198 shares in the last quarter. Centre Asset Management LLC grew its stake in Dominion Energy by 3.3% in the first quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider’s stock worth $350,000 after purchasing an additional 198 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its stake in Dominion Energy by 1.1% in the first quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider’s stock worth $1,022,000 after purchasing an additional 202 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Trading Down 1.1%

Shares of Dominion Energy stock opened at $56.08 on Thursday. The company’s fifty day simple moving average is $54.46 and its 200-day simple moving average is $54.97. The company has a market cap of $47.82 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.22 and a beta of 0.57. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy has a 1 year low of $47.99 and a 1 year high of $61.97.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Dominion Energy will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.6675 per share. The ex-dividend date is Thursday, May 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.76%. Dominion Energy’s payout ratio is currently 100.00%.

About Dominion Energy

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.