Dominion Energy (NYSE:D) Shares Up 2%

Dominion Energy, Inc. (NYSE:D)’s stock price shot up 2% during mid-day trading on Friday . The stock traded as high as $49.54 and last traded at $49.53. 722,739 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 5,363,431 shares. The stock had previously closed at $48.57.

Analyst Ratings Changes

A number of research firms recently weighed in on D. Scotiabank reduced their price objective on Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Wells Fargo & Company raised their price objective on Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Mizuho reduced their price objective on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Barclays reduced their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.10.

Dominion Energy Trading Up 2.2 %

The firm has a 50 day simple moving average of $47.50 and a 200 day simple moving average of $46.01. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $41.56 billion, a PE ratio of 21.26, a P/E/G ratio of 1.90 and a beta of 0.61.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.06 earnings per share. Equities analysts expect that Dominion Energy, Inc. will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were given a dividend of $0.6675 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a yield of 5.38%. Dominion Energy’s dividend payout ratio (DPR) is presently 114.59%.

Insider Activity at Dominion Energy

In related news, Director Joseph M. Rigby bought 2,130 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dominion Energy news, CEO Robert M. Blue purchased 21,735 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph M. Rigby purchased 2,130 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dominion Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Dominion Energy by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,065,766 shares of the utilities provider’s stock worth $101,615,000 after purchasing an additional 14,456 shares during the last quarter. Eagle Ridge Investment Management increased its holdings in shares of Dominion Energy by 58.8% in the first quarter. Eagle Ridge Investment Management now owns 10,245 shares of the utilities provider’s stock worth $504,000 after purchasing an additional 3,792 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Dominion Energy by 65.3% in the first quarter. Hexagon Capital Partners LLC now owns 8,429 shares of the utilities provider’s stock worth $415,000 after purchasing an additional 3,330 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Dominion Energy by 2.1% in the first quarter. Miracle Mile Advisors LLC now owns 17,665 shares of the utilities provider’s stock worth $869,000 after purchasing an additional 358 shares during the last quarter. Finally, Cobblestone Asset Management LLC increased its holdings in shares of Dominion Energy by 12.1% in the first quarter. Cobblestone Asset Management LLC now owns 5,556 shares of the utilities provider’s stock worth $273,000 after purchasing an additional 600 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

About Dominion Energy

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.