Dominion Energy (NYSE:D) Given New $52.00 Price Target at BMO Capital Markets

Dominion Energy (NYSE:D) had its price objective hoisted by BMO Capital Markets from $51.00 to $52.00 in a report published on Monday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Scotiabank lowered their price target on shares of Dominion Energy from $49.00 to $48.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. Mizuho upped their price objective on Dominion Energy from $45.00 to $52.00 and gave the company a neutral rating in a report on Friday, May 3rd. Evercore ISI lifted their target price on Dominion Energy from $47.00 to $53.00 and gave the stock an in-line rating in a report on Friday, May 3rd. StockNews.com downgraded shares of Dominion Energy from a hold rating to a sell rating in a report on Friday, February 23rd. Finally, Bank of America boosted their target price on shares of Dominion Energy from $40.00 to $43.00 and gave the stock an underperform rating in a report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dominion Energy currently has a consensus rating of Hold and a consensus price target of $50.73.

Dominion Energy Price Performance

D opened at $52.84 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $48.93 and its 200 day moving average price is $46.95. Dominion Energy has a fifty-two week low of $39.18 and a fifty-two week high of $57.02. The firm has a market cap of $44.26 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the business posted $0.99 EPS. The business’s revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Dominion Energy will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be given a $0.6675 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.67 annualized dividend and a dividend yield of 5.05%. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

Insider Activity at Dominion Energy

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

Hedge Funds Weigh In On Dominion Energy

A number of hedge funds have recently added to or reduced their stakes in D. JPMorgan Chase & Co. grew its stake in Dominion Energy by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after buying an additional 1,928,823 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Dominion Energy by 13.2% during the 4th 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. Capital Research Global Investors increased its holdings in shares of Dominion Energy by 136.5% during the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after purchasing an additional 10,370,768 shares during the period. Northern Trust Corp increased its holdings in shares of Dominion Energy by 2.7% during the 3rd quarter. Northern Trust Corp now owns 8,527,408 shares of the utilities provider’s stock worth $380,919,000 after purchasing an additional 220,238 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Dominion Energy by 1.0% during the 4th 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. Institutional investors and hedge funds 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.