Dominion Energy (NYSE:D) Sets New 52-Week High After Analyst Upgrade

Shares of Dominion Energy, Inc. (NYSE:D) hit a new 52-week high during mid-day trading on Wednesday after Barclays raised their price target on the stock from $54.00 to $58.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as high as $59.08 and last traded at $59.04, with a volume of 1934414 shares changing hands. The stock had previously closed at $57.61.

A number of other brokerages have also recently weighed in on D. Jefferies Financial Group initiated coverage on shares of 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 objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Scotiabank boosted their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Dominion Energy has an average rating of “Hold” and an average price target of $55.40.

Institutional Trading of Dominion Energy

Institutional investors have recently bought and sold shares of the business. Caprock Group LLC boosted its holdings in Dominion Energy by 133.0% in the 2nd 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 during the period. SG Americas Securities LLC lifted its holdings in shares of Dominion Energy by 105.0% during the 1st quarter. SG Americas Securities LLC now owns 97,105 shares of the utilities provider’s stock worth $4,777,000 after acquiring an additional 49,740 shares during the period. Wedmont Private Capital lifted its holdings in shares of Dominion Energy by 14.1% during the 1st quarter. Wedmont Private Capital now owns 4,822 shares of the utilities provider’s stock worth $239,000 after acquiring an additional 596 shares during the period. Intech Investment Management LLC bought a new stake in shares of Dominion Energy during the 1st quarter worth approximately $708,000. Finally, QRG Capital Management Inc. acquired a new position in Dominion Energy during the 1st quarter worth approximately $272,000. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Performance

The stock’s 50-day moving average is $56.88 and its 200-day moving average is $53.17. The firm has a market capitalization of $50.72 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.52 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42.

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

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.41%. The ex-dividend date was Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is currently 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.