Analysts Set Dominion Energy, Inc. (NYSE:D) Target Price at $51.73

Dominion Energy, Inc. (NYSE:D) has earned a consensus rating of “Hold” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $51.64.

Several equities analysts have commented on the stock. Bank of America raised shares of Dominion Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $43.00 to $54.00 in a research report on Friday, May 10th. BMO Capital Markets dropped their target price on shares of Dominion Energy from $52.00 to $51.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Mizuho lifted their target price on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Barclays dropped their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th.

Dominion Energy Price Performance

D stock opened at $51.97 on Friday. The company has a market capitalization of $43.53 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.39 and a beta of 0.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. Dominion Energy has a 52-week low of $39.18 and a 52-week high of $54.74. The business has a 50-day simple moving average of $51.36 and a two-hundred day simple moving average of $48.87.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the business earned $0.99 EPS. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Research analysts expect that Dominion Energy will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.67 annualized dividend and a dividend yield of 5.14%. Dominion Energy’s dividend payout ratio is currently 137.63%.

Institutional Investors Weigh In On Dominion Energy

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after purchasing an additional 12,178,713 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Dominion Energy by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares during the period. Capital Research Global Investors increased its holdings in shares of Dominion Energy by 20.1% in the first quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after purchasing an additional 3,613,614 shares during the period. Wellington Management Group LLP increased its holdings in shares of Dominion Energy by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock worth $869,184,000 after purchasing an additional 2,153,488 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Dominion Energy by 1.0% in the fourth quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock worth $357,769,000 after purchasing an additional 75,600 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

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.