Dominion Energy (NYSE:D) Reaches New 1-Year High – What’s Next?

Dominion Energy Inc. (NYSE:D)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $67.57 and last traded at $66.7390, with a volume of 280707 shares changing hands. The stock had previously closed at $66.51.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Dominion Energy from $67.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. BTIG Research began coverage on Dominion Energy in a research report on Wednesday, October 22nd. They issued a “neutral” rating for the company. Morgan Stanley raised 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 note on Wednesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of Dominion Energy from $62.00 to $59.00 and set an “underweight” rating on the stock in a research note on Thursday, December 11th. Finally, BMO Capital Markets dropped their price target on Dominion Energy from $67.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Three research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.33.

Dominion Energy Trading Down 1.6%

The company has a debt-to-equity ratio of 1.41, a current ratio of 0.84 and a quick ratio of 0.65. The firm has a market cap of $55.15 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.78 and a beta of 0.71. The company’s 50 day simple moving average is $60.51 and its 200 day simple moving average is $60.50.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 27th will be paid a $0.6675 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.67 dividend on an annualized basis and a yield of 4.1%. Dominion Energy’s payout ratio is currently 90.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of Dominion Energy by 64.3% in the 4th quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock valued at $489,000 after buying an additional 3,553 shares during the last quarter. Empowered Funds LLC increased its stake in Dominion Energy by 8.3% in the 1st quarter. Empowered Funds LLC now owns 17,571 shares of the utilities provider’s stock valued at $985,000 after buying an additional 1,344 shares during the period. Woodline Partners LP raised its holdings in Dominion Energy by 40.7% during the first quarter. Woodline Partners LP now owns 70,968 shares of the utilities provider’s stock worth $3,979,000 after purchasing an additional 20,522 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Dominion Energy by 71.2% in the 1st quarter. Intech Investment Management LLC now owns 30,460 shares of the utilities provider’s stock valued at $1,708,000 after buying an additional 12,663 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of Dominion Energy in the second quarter valued at about $236,000. 73.04% of the stock is owned by institutional investors and hedge funds.

About Dominion Energy

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.