Dominion Energy (D) Upgraded to “Overweight” at J P Morgan Chase & Co
J P Morgan Chase & Co upgraded shares of Dominion Energy (NYSE:D) from a neutral rating to an overweight rating in a report issued on Thursday morning. They currently have $82.00 target price on the utilities provider’s stock.
A number of other brokerages have also recently issued reports on D. Zacks Investment Research cut shares of Dominion Energy from a buy rating to a hold rating in a report on Friday, October 13th. Bank of America raised shares of Dominion Energy from a neutral rating to a buy rating in a report on Wednesday, November 22nd. National Bank Financial cut shares of Dominion Energy from an outperfrom under weight rating to a sector perform rating in a report on Wednesday, October 4th. Morgan Stanley upped their target price on shares of Dominion Energy from $85.00 to $87.00 and gave the company an equal weight rating in a report on Wednesday. Finally, Goldman Sachs Group reaffirmed a neutral rating and issued a $78.00 target price on shares of Dominion Energy in a report on Thursday, September 14th. Thirteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Dominion Energy presently has an average rating of Hold and a consensus target price of $81.50.
Shares of Dominion Energy (D) traded up $0.53 during trading hours on Thursday, reaching $84.91. 5,872,600 shares of the company’s stock traded hands, compared to its average volume of 2,331,742. The company has a quick ratio of 0.29, a current ratio of 0.47 and a debt-to-equity ratio of 1.67. Dominion Energy has a 52-week low of $70.87 and a 52-week high of $85.26. The company has a market cap of $54,127.29, a PE ratio of 22.92, a PEG ratio of 4.14 and a beta of 0.29.
Dominion Energy (NYSE:D) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Dominion Energy had a net margin of 17.21% and a return on equity of 13.32%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. research analysts expect that Dominion Energy will post 3.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 1st will be paid a $0.77 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.63%. This is a positive change from Dominion Energy’s previous quarterly dividend of $0.76. Dominion Energy’s dividend payout ratio is 90.86%.
In related news, Director John W. Harris sold 5,616 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $80.71, for a total value of $453,267.36. Following the transaction, the director now owns 18,920 shares in the company, valued at approximately $1,527,033.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in D. Janus Henderson Group PLC grew its position in shares of Dominion Energy by 1,955.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,672,437 shares of the utilities provider’s stock worth $128,159,000 after purchasing an additional 1,591,057 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Dominion Energy by 24.7% during the 2nd quarter. Wells Fargo & Company MN now owns 6,110,200 shares of the utilities provider’s stock worth $468,223,000 after purchasing an additional 1,209,768 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Dominion Energy by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 44,796,520 shares of the utilities provider’s stock worth $3,432,756,000 after purchasing an additional 1,194,152 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Dominion Energy by 31.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,211,120 shares of the utilities provider’s stock worth $322,696,000 after purchasing an additional 1,014,670 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of Dominion Energy by 24.1% during the 3rd quarter. Epoch Investment Partners Inc. now owns 3,527,979 shares of the utilities provider’s stock worth $271,408,000 after purchasing an additional 684,637 shares in the last quarter. Hedge funds and other institutional investors own 64.67% 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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