Dominion Energy (NYSE:D) Price Target Raised to $64.00 at Barclays

Dominion Energy (NYSE:D) had its price target increased by Barclays from $63.00 to $64.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 8.20% from the company’s current price.

Several other analysts have also issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Dominion Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Dominion Energy from $62.00 to $59.00 and set an “underweight” rating on the stock in a report on Thursday, December 11th. Weiss Ratings lowered Dominion Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. BTIG Research assumed coverage on shares of Dominion Energy in a report on Wednesday, October 22nd. They set a “neutral” rating on the stock. Finally, Morgan Stanley boosted their price target on shares of Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.75.

Dominion Energy Stock Down 0.3%

Shares of Dominion Energy stock traded down $0.19 during trading on Wednesday, reaching $59.15. 2,954,745 shares of the company traded hands, compared to its average volume of 5,240,763. The firm has a market capitalization of $50.51 billion, a PE ratio of 20.22, a P/E/G ratio of 1.72 and a beta of 0.70. The company has a 50 day moving average price of $60.44 and a 200-day moving average price of $59.27. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.84 and a quick ratio of 0.65. Dominion Energy has a 1-year low of $48.07 and a 1-year high of $62.87.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.71 billion. Dominion Energy had a return on equity of 9.60% and a net margin of 16.17%.The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. As a group, equities research analysts expect that Dominion Energy will post 3.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dominion Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CoreFirst Bank & Trust purchased a new stake in shares of Dominion Energy in the 2nd quarter valued at about $25,000. Triumph Capital Management bought a new position in shares of Dominion Energy in the third quarter worth approximately $28,000. Westside Investment Management Inc. raised its stake in Dominion Energy by 123.3% in the second quarter. Westside Investment Management Inc. now owns 469 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 259 shares in the last quarter. United Community Bank bought a new stake in Dominion Energy during the third quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC purchased a new position in Dominion Energy in the 3rd quarter worth approximately $30,000. 73.04% of the stock is currently owned by hedge funds and other 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.