Brokerages Set Dominion Energy, Inc. (NYSE:D) PT at $56.58

Dominion Energy, Inc. (NYSE:D) has been given an average rating of “Hold” by the twelve ratings firms that are covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $56.58.

A number of brokerages have recently issued reports on D. Morgan Stanley started coverage on shares of Dominion Energy in a report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target for the company. Scotiabank raised their target price on Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Barclays upped 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, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research report on Friday, November 8th.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $55.18 on Thursday. The business’s 50 day moving average price is $55.11 and its 200 day moving average price is $56.03. The company has a market cap of $46.35 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.15 and a beta of 0.60. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy has a one year low of $43.53 and a one year high of $61.97.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS 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 business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts predict that Dominion Energy will post 2.76 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Friday, February 28th. Dominion Energy’s dividend payout ratio (DPR) is currently 93.68%.

Hedge Funds Weigh In On Dominion Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its holdings in Dominion Energy by 22.8% in the third quarter. Oppenheimer & Co. Inc. now owns 69,343 shares of the utilities provider’s stock valued at $4,007,000 after acquiring an additional 12,890 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Dominion Energy by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,164,929 shares of the utilities provider’s stock valued at $298,481,000 after purchasing an additional 43,055 shares during the last quarter. Ascent Wealth Partners LLC acquired a new stake in shares of Dominion Energy in the 3rd quarter valued at $1,223,000. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Dominion Energy by 63.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock worth $487,567,000 after purchasing an additional 3,278,175 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Dominion Energy by 19.8% during the third quarter. Barclays PLC now owns 2,452,701 shares of the utilities provider’s stock worth $141,739,000 after purchasing an additional 404,868 shares in the last quarter. Hedge funds and other institutional investors 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.