KeyCorp Reaffirms “Hold” Rating for Dominion Energy Inc. (D)
KeyCorp restated their hold rating on shares of Dominion Energy Inc. (NYSE:D) in a research note published on Friday. KeyCorp also issued estimates for Dominion Energy’s Q3 2017 earnings at $1.03 EPS and FY2017 earnings at $3.55 EPS.
Several other equities analysts have also recently commented on D. BidaskClub cut Dominion Energy from a buy rating to a hold rating in a report on Saturday, June 24th. Zacks Investment Research raised Dominion Energy from a hold rating to a buy rating and set a $85.00 target price for the company in a report on Tuesday, July 11th. Citigroup Inc. dropped their target price on Dominion Energy from $78.00 to $76.00 and set a neutral rating for the company in a report on Wednesday, July 26th. Deutsche Bank AG increased their target price on Dominion Energy from $76.00 to $77.00 and gave the stock a hold rating in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a hold rating and issued a $77.00 target price on shares of Dominion Energy in a report on Monday, August 21st. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $80.78.
Shares of Dominion Energy (D) opened at 80.00 on Friday. Dominion Energy has a 12-month low of $69.51 and a 12-month high of $81.65. The firm’s 50-day moving average price is $78.07 and its 200 day moving average price is $78.17. The stock has a market capitalization of $51.41 billion, a P/E ratio of 23.15 and a beta of 0.28.
Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Dominion Energy had a return on equity of 14.04% and a net margin of 17.48%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. Analysts predict that Dominion Energy will post $3.61 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.85%. This is a positive change from Dominion Energy’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, November 30th. Dominion Energy’s dividend payout ratio (DPR) is presently 87.28%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Dominion Energy by 3,615.9% in the 1st quarter. BlackRock Inc. now owns 45,518,516 shares of the utilities provider’s stock valued at $3,530,873,000 after purchasing an additional 44,293,566 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Dominion Energy by 1,955.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,672,437 shares of the utilities provider’s stock valued at $128,159,000 after purchasing an additional 1,591,057 shares during the period. Vanguard Group Inc. lifted its stake in shares of Dominion Energy by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 43,602,368 shares of the utilities provider’s stock valued at $3,382,237,000 after purchasing an additional 1,435,767 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Dominion Energy by 24.7% in the 2nd quarter. Wells Fargo & Company MN now owns 6,110,200 shares of the utilities provider’s stock valued at $468,223,000 after purchasing an additional 1,209,768 shares during the period. Finally, Commonwealth Bank of Australia lifted its stake in shares of Dominion Energy by 31.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 4,211,120 shares of the utilities provider’s stock valued at $322,696,000 after purchasing an additional 1,014,670 shares during the period. Hedge funds and other institutional investors own 64.43% of the company’s stock.
Dominion Energy Company Profile
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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