Dominion Energy (NYSE:D) Hits New 1-Year High – What’s Next?

Dominion Energy, Inc. (NYSE:D) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $60.86 and last traded at $60.85, with a volume of 1364180 shares changing hands. The stock had previously closed at $60.00.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Scotiabank boosted their price target on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. BMO Capital Markets boosted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Barclays boosted their price target on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and an average price target of $55.40.

Dominion Energy Trading Up 1.5 %

The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average of $57.31 and a two-hundred day moving average of $53.52. The company has a market capitalization of $51.03 billion, a PE ratio of 30.93, a PEG ratio of 1.60 and a beta of 0.60.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. As a group, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.6675 per share. The ex-dividend date was Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.38%. Dominion Energy’s dividend payout ratio is presently 137.63%.

Institutional Investors Weigh In On Dominion Energy

A number of institutional investors have recently modified their holdings of the stock. Caprock Group LLC lifted its holdings in shares of Dominion Energy by 133.0% during the second quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 5,525 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Dominion Energy by 105.0% in the first quarter. SG Americas Securities LLC now owns 97,105 shares of the utilities provider’s stock valued at $4,777,000 after acquiring an additional 49,740 shares during the period. Intech Investment Management LLC bought a new position in Dominion Energy in the first quarter valued at about $708,000. QRG Capital Management Inc. bought a new position in Dominion Energy in the first quarter valued at about $272,000. Finally, BKM Wealth Management LLC lifted its holdings in Dominion Energy by 74.4% in the first quarter. BKM Wealth Management LLC now owns 2,007 shares of the utilities provider’s stock valued at $99,000 after acquiring an additional 856 shares during the period. 73.04% of the stock is 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.