Dominion Energy (NYSE:D) Updates FY24 Earnings Guidance

Dominion Energy (NYSE:D) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.62-$2.87 for the period, compared to the consensus earnings per share estimate of $2.82.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $51.40 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. Dominion Energy has a 1-year low of $39.18 and a 1-year high of $57.27. The stock has a market capitalization of $43.05 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.43 and a beta of 0.59. The business has a 50-day moving average price of $48.67 and a two-hundred day moving average price of $46.68.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.46%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. Dominion Energy’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts predict that Dominion Energy will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on D. Wells Fargo & Company lifted their price objective on Dominion Energy from $51.00 to $55.00 and gave the stock an equal weight rating in a research note on Friday. Bank of America boosted their target price on Dominion Energy from $40.00 to $43.00 and gave the stock an underperform rating in a research report on Tuesday, April 23rd. Mizuho increased their price target on shares of Dominion Energy from $45.00 to $52.00 and gave the company a neutral rating in a research report on Friday. Barclays reduced their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an overweight rating on the stock in a research note on Monday, April 15th. Finally, StockNews.com downgraded shares of Dominion Energy from a hold rating to a sell rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Dominion Energy presently has a consensus rating of Hold and an average target price of $50.45.

Insider Transactions at Dominion Energy

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

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.