Dominion Energy (NYSE:D) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Dominion Energy (NYSE:D) in a research report sent to investors on Friday morning, Marketbeat reports. The firm issued a hold rating and a $58.00 target price on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. Scotiabank increased their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a sector perform rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the company a neutral rating in a report on Monday, August 12th. Finally, BMO Capital Markets upped their target price on Dominion Energy from $53.00 to $57.00 and gave the stock a market perform rating in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $54.50.

Dominion Energy Price Performance

Dominion Energy stock opened at $57.86 on Friday. 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 firm has a market capitalization of $48.46 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Dominion Energy has a 12-month low of $39.18 and a 12-month high of $58.94. The firm has a 50-day moving average price of $55.36 and a 200-day moving average price of $52.09.

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

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.61%. The ex-dividend date was Friday, August 30th. Dominion Energy’s payout ratio is 137.63%.

Institutional Investors Weigh In On Dominion Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. grew its position in Dominion Energy by 380.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,232 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,767 shares during the period. Heritage Wealth Management Inc. acquired a new stake in shares of Dominion Energy during the 2nd quarter worth about $206,000. Sanctuary Advisors LLC purchased a new stake in Dominion Energy in the 2nd quarter valued at about $7,594,000. Gordian Capital Singapore Pte Ltd acquired a new position in Dominion Energy in the second quarter valued at about $250,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Dominion Energy during the second quarter worth about $53,000. 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.