Seaport Res Ptn Weighs in on Dominion Energy FY2024 Earnings

Dominion Energy, Inc. (NYSE:D) – Analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for Dominion Energy in a note issued to investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $2.76 per share for the year, up from their prior estimate of $2.75. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share. Seaport Res Ptn also issued estimates for Dominion Energy’s FY2026 earnings at $3.63 EPS.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the business earned $0.77 EPS. Dominion Energy’s revenue was up 3.4% on a year-over-year basis.

A number of other brokerages have also weighed in on D. Morgan Stanley started coverage on Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price objective on the stock. Barclays boosted their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $61.00 price target on shares of Dominion Energy in a research note on Friday, November 8th. Jefferies Financial Group started coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective for the company. Finally, Scotiabank raised their price target on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.58.

Dominion Energy Price Performance

Shares of D opened at $53.97 on Tuesday. Dominion Energy has a 1-year low of $43.53 and a 1-year high of $61.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The stock has a market cap of $45.34 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60. The firm has a fifty day moving average price of $56.11 and a 200 day moving average price of $55.52.

Hedge Funds Weigh In On Dominion Energy

Several institutional investors and hedge funds have recently modified their holdings of D. State Street Corp lifted its position in Dominion Energy by 3.2% during the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after acquiring an additional 1,365,555 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Dominion Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock worth $1,452,145,000 after acquiring an additional 477,181 shares during the period. JPMorgan Chase & Co. raised its stake in Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after purchasing an additional 1,222,688 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Dominion Energy by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after purchasing an additional 367,193 shares during the period. Finally, Franklin Resources Inc. increased its stake in Dominion Energy by 4.8% during the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock valued at $496,358,000 after acquiring an additional 398,012 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.95%. The ex-dividend date was Friday, November 29th. Dominion Energy’s payout ratio is 93.68%.

Dominion Energy Company Profile

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.