Dominion Energy (NYSE:D) Price Target Raised to $60.00

Dominion Energy (NYSE:D) had its price objective lifted by UBS Group from $58.00 to $60.00 in a report published on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

Several other analysts also recently weighed in on D. Scotiabank boosted their price objective on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their price target on shares of Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Finally, Morgan Stanley upped their price objective on shares of Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.58.

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $54.51 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 52-week low of $46.56 and a 52-week high of $61.97. The company has a fifty day moving average of $55.19 and a 200-day moving average of $56.30. The stock has a market capitalization of $46.44 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.22 and a beta of 0.58.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. Equities research analysts expect that Dominion Energy will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.90%. Dominion Energy’s dividend payout ratio (DPR) is 98.89%.

Hedge Funds Weigh In On Dominion Energy

A number of institutional investors have recently added to or reduced their stakes in D. Simon Quick Advisors LLC boosted its stake in Dominion Energy by 4.5% during the fourth quarter. Simon Quick Advisors LLC now owns 4,250 shares of the utilities provider’s stock valued at $229,000 after buying an additional 184 shares during the last quarter. Cadence Bank boosted its position in shares of Dominion Energy by 2.0% during the 4th quarter. Cadence Bank now owns 9,561 shares of the utilities provider’s stock valued at $515,000 after acquiring an additional 189 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in shares of Dominion Energy by 2.6% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 7,786 shares of the utilities provider’s stock valued at $450,000 after purchasing an additional 195 shares in the last quarter. Choate Investment Advisors grew its holdings in shares of Dominion Energy by 5.4% in the fourth quarter. Choate Investment Advisors now owns 3,880 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 198 shares in the last quarter. Finally, Passumpsic Savings Bank increased its position in Dominion Energy by 2.7% in the third quarter. Passumpsic Savings Bank now owns 7,639 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

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.