Dominion Energy, Inc. (NYSE:D) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Dominion Energy, Inc. (NYSE:D) have been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $54.00.

Several research firms have issued reports on D. Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $43.00 to $54.00 in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their price target on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Scotiabank upped their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price objective on Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Finally, StockNews.com raised Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th.

Hedge Funds Weigh In On Dominion Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd bought a new position in Dominion Energy during the second quarter valued at approximately $250,000. Strategic Investment Solutions Inc. IL bought a new position in Dominion Energy during the second quarter valued at approximately $53,000. RiverFront Investment Group LLC boosted its stake in Dominion Energy by 41.6% during the second quarter. RiverFront Investment Group LLC now owns 6,735 shares of the utilities provider’s stock valued at $330,000 after buying an additional 1,979 shares during the last quarter. Clearbridge Investments LLC raised its position in Dominion Energy by 14.7% during the second quarter. Clearbridge Investments LLC now owns 5,134 shares of the utilities provider’s stock valued at $252,000 after purchasing an additional 659 shares during the period. Finally, 3Chopt Investment Partners LLC raised its position in Dominion Energy by 33.2% during the second quarter. 3Chopt Investment Partners LLC now owns 27,655 shares of the utilities provider’s stock valued at $1,355,000 after purchasing an additional 6,887 shares during the period. 73.04% of the stock is owned by institutional investors.

Dominion Energy Stock Up 0.8 %

Dominion Energy stock opened at $55.90 on Monday. The stock has a fifty day moving average of $52.71 and a 200 day moving average of $50.71. Dominion Energy has a one year low of $39.18 and a one year high of $57.60. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The stock has a market cap of $46.82 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Dominion Energy’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Dominion Energy will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Friday, August 30th. Dominion Energy’s payout ratio is presently 137.63%.

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.