Scotiabank Forecasts Strong Price Appreciation for Dominion Energy (NYSE:D) Stock

Dominion Energy (NYSE:D) had its target price increased by equities researchers at Scotiabank from $58.00 to $61.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential upside of 12.88% from the company’s current price.

D has been the subject of several other reports. Jefferies Financial Group initiated coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective for the company. Barclays lifted their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reissued a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Finally, Morgan Stanley initiated coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Trading Up 0.4 %

D stock opened at $54.04 on Thursday. The firm has a market cap of $45.39 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.45 and a beta of 0.59. The firm has a fifty day moving average price of $57.77 and a 200 day moving average price of $55.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy has a fifty-two week low of $43.53 and a fifty-two week high of $61.97.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the firm posted $0.77 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Dominion Energy will post 2.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dominion Energy

Hedge funds have recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Dominion Energy by 22.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 69,343 shares of the utilities provider’s stock worth $4,007,000 after purchasing an additional 12,890 shares during the period. Caprock Group LLC raised its stake in Dominion Energy by 133.0% in the second quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider’s stock worth $474,000 after buying an additional 5,525 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Dominion Energy by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,164,929 shares of the utilities provider’s stock worth $298,481,000 after buying an additional 43,055 shares during the period. Ascent Wealth Partners LLC bought a new stake in Dominion Energy during the 3rd quarter valued at $1,223,000. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Dominion Energy by 63.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after acquiring an additional 3,278,175 shares during the period. 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.