Dominion Energy (NYSE:D) Trading 3.8% Higher – Here’s Why

Dominion Energy, Inc. (NYSE:D)’s stock price shot up 3.8% during mid-day trading on Tuesday . The company traded as high as $58.39 and last traded at $58.36. 1,844,738 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 4,449,089 shares. The stock had previously closed at $56.20.

Analysts Set New Price Targets

D has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Morgan Stanley increased their price target on shares of Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Argus raised shares of Dominion Energy to a “hold” rating in a research report on Tuesday, March 25th. Finally, UBS Group increased their target price on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Dominion Energy has an average rating of “Hold” and an average price target of $58.75.

Dominion Energy Stock Down 2.5%

The firm has a market capitalization of $48.21 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.22 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The company’s 50 day moving average price is $54.08 and its 200 day moving average price is $55.04.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, research analysts forecast that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a $0.6675 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.67 annualized dividend and a yield of 4.72%. Dominion Energy’s dividend payout ratio (DPR) is presently 100.00%.

Hedge Funds Weigh In On Dominion Energy

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Dominion Energy by 1.7% during the first quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider’s stock worth $5,106,823,000 after purchasing an additional 1,565,459 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Dominion Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock valued at $1,667,540,000 after buying an additional 1,459,926 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Dominion Energy by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after buying an additional 1,222,688 shares during the period. Dodge & Cox boosted its stake in shares of Dominion Energy by 3.0% in the first quarter. Dodge & Cox now owns 23,308,378 shares of the utilities provider’s stock worth $1,306,901,000 after buying an additional 685,245 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Dominion Energy by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider’s stock worth $997,034,000 after acquiring an additional 601,900 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

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.