Dominion Energy, Inc. Expected to Post FY2024 Earnings of $2.76 Per Share (NYSE:D)

Dominion Energy, Inc. (NYSE:D) – Equities researchers at Seaport Res Ptn boosted their FY2024 EPS estimates for shares of Dominion Energy in a report released on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $2.76 for the year, up from their previous estimate of $2.64. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was down 7.2% compared to the same quarter last year.

Several other research analysts have also commented on the stock. Barclays lowered their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. BMO Capital Markets lowered Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research report on Monday, March 11th. Mizuho decreased their target price on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Bank of America upped their price target on Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. Finally, StockNews.com cut Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.10.

Dominion Energy Stock Performance

NYSE D opened at $50.98 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market cap of $42.70 billion, a P/E ratio of 21.88, a P/E/G ratio of 3.37 and a beta of 0.61. The stock has a 50-day moving average of $48.39 and a two-hundred day moving average of $46.55. Dominion Energy has a 1-year low of $39.18 and a 1-year high of $57.65.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the transaction, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Dominion Energy news, Director Joseph M. Rigby bought 2,130 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $46.94 per share, with a total value of $99,982.20. Following the acquisition, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert M. Blue purchased 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $45.91 per share, with a total value of $997,853.85. Following the transaction, the chief executive officer now owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. J.W. Cole Advisors Inc. increased its holdings in shares of Dominion Energy by 7.5% in the first quarter. J.W. Cole Advisors Inc. now owns 14,435 shares of the utilities provider’s stock valued at $710,000 after purchasing an additional 1,003 shares during the period. Ables Iannone Moore & Associates Inc. grew its position in Dominion Energy by 12.2% in the 1st quarter. Ables Iannone Moore & Associates Inc. now owns 13,915 shares of the utilities provider’s stock valued at $684,000 after buying an additional 1,510 shares during the last quarter. Norden Group LLC acquired a new position in Dominion Energy in the 1st quarter valued at $1,463,000. Van ECK Associates Corp raised its position in Dominion Energy by 4.7% during the 1st quarter. Van ECK Associates Corp now owns 198,497 shares of the utilities provider’s stock worth $9,764,000 after buying an additional 8,893 shares during the last quarter. Finally, Fortis Group Advisors LLC lifted its stake in shares of Dominion Energy by 72,746.2% in the 1st quarter. Fortis Group Advisors LLC now owns 18,940 shares of the utilities provider’s stock worth $932,000 after acquiring an additional 18,914 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

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.