Brokerages Set Dominion Energy, Inc. (NYSE:D) Target Price at $56.58

Dominion Energy, Inc. (NYSE:D) has received an average rating of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $56.58.

A number of research analysts recently issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and set a $61.00 price objective on shares of Dominion Energy in a research report on Friday, November 8th. Barclays boosted their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Scotiabank upped their price target on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research report on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective on the stock. Finally, Morgan Stanley started coverage on shares of Dominion Energy in a research report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price for the company.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $53.86 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy has a 1 year low of $43.53 and a 1 year high of $61.97. The firm’s 50-day simple moving average is $56.70 and its 200-day simple moving average is $55.36. The firm has a market cap of $45.24 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59.

Dominion Energy (NYSE:D) last issued its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The company 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 business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Equities analysts forecast that Dominion Energy will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a $0.6675 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.96%. Dominion Energy’s dividend payout ratio (DPR) is 93.68%.

Institutional Investors Weigh In On Dominion Energy

Large investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its stake in Dominion Energy by 22.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 69,343 shares of the utilities provider’s stock worth $4,007,000 after acquiring an additional 12,890 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Dominion Energy by 133.0% in the 2nd quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 5,525 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dominion Energy by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,164,929 shares of the utilities provider’s stock worth $298,481,000 after purchasing an additional 43,055 shares during the period. Ascent Wealth Partners LLC purchased a new position in Dominion Energy during the third quarter valued at approximately $1,223,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Dominion Energy by 63.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after buying an additional 3,278,175 shares during the period. Institutional investors and hedge funds 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.