Dominion Energy (NYSE:D) Price Target Increased to $80.00 by Analysts at Credit Suisse Group

Dominion Energy (NYSE:D) had its target price increased by Credit Suisse Group from $77.00 to $80.00 in a research note issued to investors on Wednesday morning, Analyst Ratings Network reports. They currently have a neutral rating on the utilities provider’s stock.

Several other research firms also recently issued reports on D. Argus downgraded Dominion Energy from a buy rating to a hold rating in a research note on Monday, August 17th. Scotiabank upped their price objective on Dominion Energy from $84.00 to $86.00 and gave the company a sector perform rating in a research note on Tuesday, July 7th. TheStreet raised Dominion Energy from a c+ rating to a b- rating in a research note on Monday, November 2nd. JPMorgan Chase & Co. raised Dominion Energy from a neutral rating to an overweight rating and upped their price objective for the company from $82.00 to $84.00 in a research note on Tuesday, September 29th. Finally, Zacks Investment Research downgraded Dominion Energy from a buy rating to a hold rating and set a $84.00 price objective for the company. in a research note on Thursday, October 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $83.53.

Shares of NYSE D opened at $83.70 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.46 and a debt-to-equity ratio of 1.30. The company has a market cap of $69.48 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 6.36 and a beta of 0.37. Dominion Energy has a 12 month low of $57.79 and a 12 month high of $90.89. The stock has a 50-day moving average price of $80.16 and a two-hundred day moving average price of $79.93.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, November 5th. The utilities provider reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.08. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.69 billion. Dominion Energy had a return on equity of 12.09% and a net margin of 3.77%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, sell-side analysts predict that Dominion Energy will post 3.64 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 20th. Stockholders of record on Friday, December 4th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, December 3rd. Dominion Energy’s payout ratio is 88.68%.

In other news, Chairman Thomas F. Farrell II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $80.28, for a total transaction of $4,014,000.00. Following the transaction, the chairman now directly owns 1,038,262 shares of the company’s stock, valued at $83,351,673.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 150,000 shares of company stock worth $12,120,000 over the last ninety days. 0.26% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its position in Dominion Energy by 110.5% in the 2nd quarter. Larson Financial Group LLC now owns 381 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Demars Financial Group LLC bought a new stake in Dominion Energy in the 2nd quarter worth about $32,000. Rockbridge Investment Management LCC bought a new stake in Dominion Energy in the 2nd quarter worth about $32,000. Crewe Advisors LLC purchased a new position in Dominion Energy in the third quarter valued at about $38,000. Finally, Blue Square Asset Management LLC purchased a new position in Dominion Energy in the second quarter valued at about $39,000. Institutional investors and hedge funds own 66.53% of the company’s stock.

Dominion Energy Company Profile

Dominion Energy, Inc produces and transports energy. The company's Dominion Energy Virginia segment engages in the regulated electric generation, transmission, and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Gas Transmission & Storage segment operates interstate natural gas transmission pipelines and underground storage systems, as well as engages in nonregulated retail natural gas marketing, and development of renewable natural gas and LNG infrastructure.

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Analyst Recommendations for Dominion Energy (NYSE:D)

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