Dominion Energy, Inc. (NYSE:D) Receives $56.33 Consensus Price Target from Brokerages

Dominion Energy, Inc. (NYSE:D) has been given an average recommendation of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $56.33.

A number of equities analysts recently weighed in on D shares. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $61.00 price objective on shares of Dominion Energy in a report on Friday, November 8th. Morgan Stanley started coverage on Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price on the stock. Scotiabank increased 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. Finally, Barclays lifted 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.

Dominion Energy Stock Performance

NYSE D opened at $56.05 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. Dominion Energy has a twelve month low of $43.53 and a twelve month high of $61.97. The business has a 50-day moving average price of $58.15 and a 200-day moving average price of $55.13. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.51 and a beta of 0.59.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Dominion Energy will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s dividend payout ratio is currently 93.68%.

Institutional Investors Weigh In On Dominion Energy

Several hedge funds and other institutional investors have recently made changes to their positions in D. State Street Corp raised its holdings in shares of Dominion Energy by 3.2% in the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after buying an additional 1,365,555 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Dominion Energy by 1.6% in 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 during the period. Geode Capital Management LLC lifted its position in shares of Dominion Energy by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after purchasing an additional 367,193 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $734,007,000 after purchasing an additional 940,402 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Dominion Energy by 4.8% in the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock worth $496,358,000 after purchasing an additional 398,012 shares during the last quarter. Hedge funds and other institutional investors 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.