Dominion Energy, Inc. (NYSE:D – Get Rating) – Seaport Res Ptn cut their FY2023 earnings per share (EPS) estimates for shares of Dominion Energy in a report issued on Monday, November 21st. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $3.65 per share for the year, down from their previous estimate of $4.38. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Dominion Energy’s current full-year earnings is $4.11 per share. Seaport Res Ptn also issued estimates for Dominion Energy’s FY2024 earnings at $3.97 EPS and FY2025 earnings at $4.40 EPS.
Other analysts have also issued research reports about the company. StockNews.com began coverage on Dominion Energy in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered Dominion Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $83.00 to $76.00 in a research report on Monday, November 7th. Wolfe Research lowered Dominion Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 7th. Wells Fargo & Company cut their price objective on Dominion Energy from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Finally, Mizuho cut their price objective on Dominion Energy from $81.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Dominion Energy has a consensus rating of “Hold” and an average price target of $75.08.
Dominion Energy Stock Up 1.3 %
Dominion Energy (NYSE:D – Get Rating) last issued its earnings results on Friday, November 4th. The utilities provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.03. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Dominion Energy had a return on equity of 12.84% and a net margin of 14.73%. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 EPS.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its position in shares of Dominion Energy by 486.1% in the third quarter. Canada Pension Plan Investment Board now owns 10,364,622 shares of the utilities provider’s stock valued at $716,299,000 after purchasing an additional 8,596,097 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Dominion Energy by 28.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 28,007,574 shares of the utilities provider’s stock valued at $2,235,284,000 after purchasing an additional 6,156,960 shares during the last quarter. State Street Corp grew its position in shares of Dominion Energy by 8.3% in the first quarter. State Street Corp now owns 46,230,763 shares of the utilities provider’s stock valued at $3,928,228,000 after purchasing an additional 3,546,948 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Dominion Energy by 22.4% in the second quarter. Franklin Resources Inc. now owns 18,008,133 shares of the utilities provider’s stock valued at $1,437,229,000 after purchasing an additional 3,291,401 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Dominion Energy by 5.5% in the third quarter. BlackRock Inc. now owns 58,954,665 shares of the utilities provider’s stock valued at $4,074,356,000 after purchasing an additional 3,051,912 shares during the last quarter. 69.75% of the stock is owned by hedge funds and other institutional investors.
Dominion Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Friday, December 2nd will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $2.67 annualized dividend and a yield of 4.37%. Dominion Energy’s dividend payout ratio is currently 95.70%.
Dominion Energy Company Profile
Dominion Energy, Inc produces and distributes energy in the United States. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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