Dominion Energy, Inc. (NYSE:D – Get Rating)’s share price reached a new 52-week low during trading on Tuesday after UBS Group lowered their price target on the stock from $73.00 to $63.00. UBS Group currently has a neutral rating on the stock. Dominion Energy traded as low as $57.59 and last traded at $57.63, with a volume of 109188 shares. The stock had previously closed at $59.27.
Several other research analysts have also recently commented on the stock. Mizuho lowered their target price on shares of Dominion Energy from $81.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, October 6th. StockNews.com initiated coverage on shares of Dominion Energy in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wolfe Research lowered shares of Dominion Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, November 7th. Maxim Group assumed coverage on shares of Dominion Energy in a report on Friday, November 4th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut shares of Dominion Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $83.00 to $76.00 in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Dominion Energy has a consensus rating of “Hold” and a consensus target price of $74.25.
Institutional Investors Weigh In On Dominion Energy
Several institutional investors have recently modified their holdings of D. Canada Pension Plan Investment Board boosted its holdings in Dominion Energy by 486.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,364,622 shares of the utilities provider’s stock valued at $716,299,000 after acquiring an additional 8,596,097 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Dominion Energy by 28.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 28,007,574 shares of the utilities provider’s stock valued at $2,235,284,000 after purchasing an additional 6,156,960 shares during the period. State Street Corp grew its holdings in shares of Dominion Energy by 8.3% in the first quarter. State Street Corp now owns 46,230,763 shares of the utilities provider’s stock worth $3,928,228,000 after purchasing an additional 3,546,948 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Dominion Energy by 22.4% during the 2nd quarter. Franklin Resources Inc. now owns 18,008,133 shares of the utilities provider’s stock valued at $1,437,229,000 after buying an additional 3,291,401 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Dominion Energy by 5.5% in the 3rd quarter. BlackRock Inc. now owns 58,954,665 shares of the utilities provider’s stock valued at $4,074,356,000 after buying an additional 3,051,912 shares during the period. 69.75% of the stock is owned by institutional investors.
Dominion Energy Price Performance
The firm has a market capitalization of $48.11 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.57 and a beta of 0.42. The stock’s 50 day simple moving average is $64.61 and its 200 day simple moving average is $75.14. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.57 and a current ratio of 0.71.
Dominion Energy (NYSE:D – Get Rating) last released its quarterly earnings data on Friday, November 4th. The utilities provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.03. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $3.98 billion. Dominion Energy had a return on equity of 12.84% and a net margin of 14.73%. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. As a group, analysts expect that Dominion Energy, Inc. will post 4.11 earnings per share for the current fiscal year.
Dominion Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Friday, December 2nd will be paid a $0.6675 dividend. The ex-dividend date is Thursday, December 1st. This represents a $2.67 annualized dividend and a yield of 4.62%. Dominion Energy’s dividend payout ratio (DPR) is presently 95.70%.
About Dominion Energy
Dominion Energy, Inc produces and distributes energy in the United States. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.