Brokerages Set Dominion Energy, Inc. (NYSE:D) Price Target at $55.91

Dominion Energy, Inc. (NYSE:D) has been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $55.91.

Several equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price target for the company. Scotiabank lifted their price target on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. BMO Capital Markets lifted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Finally, Barclays boosted their price objective on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after purchasing an additional 12,178,713 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Dominion Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock worth $1,452,145,000 after purchasing an additional 477,181 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Dominion Energy by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares in the last quarter. Capital Research Global Investors lifted its stake in Dominion Energy by 20.1% during the first quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after purchasing an additional 3,613,614 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Dominion Energy by 6.7% during the second quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock worth $734,007,000 after purchasing an additional 940,402 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

Shares of D opened at $56.58 on Friday. The stock has a 50-day moving average of $58.06 and a two-hundred day moving average of $54.50. Dominion Energy has a one year low of $43.53 and a one year high of $61.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. The stock has a market cap of $47.53 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.52 and a beta of 0.59.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, research analysts predict that Dominion Energy will post 2.76 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio is presently 93.68%.

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.