ValuEngine Upgrades Dominion Energy (D) to “Buy”
Several other equities analysts have also issued reports on D. Zacks Investment Research lowered Dominion Energy from a hold rating to a sell rating in a research note on Friday, March 8th. Credit Suisse Group set a $77.00 price target on Dominion Energy and gave the company a hold rating in a research note on Monday, April 22nd. Wolfe Research set a $79.00 price target on Dominion Energy and gave the company a hold rating in a research note on Monday, March 18th. Mizuho began coverage on Dominion Energy in a research note on Monday, March 11th. They issued a neutral rating and a $76.00 price target on the stock. Finally, Argus reissued a buy rating on shares of Dominion Energy in a research note on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $85.00.
Dominion Energy stock opened at $77.72 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.44 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $62.36 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.76 and a beta of 0.23. Dominion Energy has a one year low of $61.53 and a one year high of $78.14.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.9175 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.67 annualized dividend and a dividend yield of 4.72%. Dominion Energy’s dividend payout ratio is 90.62%.
In other news, Director Robert H. Spilman, Jr. sold 1,215 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.01, for a total transaction of $92,352.15. Following the completion of the sale, the director now owns 23,598 shares in the company, valued at $1,793,683.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director D Maybank Hagood acquired 1,965 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $76.34 per share, with a total value of $150,008.10. Following the acquisition, the director now owns 2,975 shares of the company’s stock, valued at $227,111.50. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Dominion Energy by 17.3% in the first quarter. BlackRock Inc. now owns 55,385,657 shares of the utilities provider’s stock worth $4,245,862,000 after purchasing an additional 8,176,020 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Dominion Energy by 6,957.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,026,854 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 4,955,630 shares during the last quarter. Norges Bank purchased a new position in Dominion Energy in the fourth quarter worth $305,535,000. FMR LLC boosted its position in Dominion Energy by 77.6% in the first quarter. FMR LLC now owns 9,010,766 shares of the utilities provider’s stock worth $690,765,000 after purchasing an additional 3,935,958 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Dominion Energy by 34.0% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,968,811 shares of the utilities provider’s stock worth $1,069,671,000 after purchasing an additional 3,801,740 shares during the last quarter. Hedge funds and other institutional investors own 62.35% of the company’s stock.
About Dominion Energy
Dominion Energy, Inc produces and transports energy. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities.
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