J P Morgan Chase & Co Upgrades Dominion Energy (D) to Overweight
Dominion Energy (NYSE:D) was upgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a $82.00 price target on the utilities provider’s stock. J P Morgan Chase & Co’s price objective suggests a potential downside of 2.82% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Dominion Energy from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday, October 3rd. Bank of America raised Dominion Energy from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 22nd. Morgan Stanley boosted their price objective on Dominion Energy from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Wednesday. KeyCorp reissued a “hold” rating on shares of Dominion Energy in a research report on Friday, October 20th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $77.00 price objective on shares of Dominion Energy in a research report on Monday, August 21st. Thirteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Dominion Energy presently has a consensus rating of “Hold” and a consensus price target of $81.50.
Dominion Energy (D) traded up $0.27 during midday trading on Thursday, reaching $84.38. The company’s stock had a trading volume of 2,198,564 shares, compared to its average volume of 2,317,049. The firm has a market cap of $54,130.00, a P/E ratio of 22.73, a P/E/G ratio of 4.10 and a beta of 0.29. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.29 and a current ratio of 0.47. Dominion Energy has a 52 week low of $70.87 and a 52 week high of $84.83.
Dominion Energy (NYSE:D) last released its earnings results on Monday, October 30th. The utilities provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.31 billion. Dominion Energy had a return on equity of 13.32% and a net margin of 17.21%. Dominion Energy’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. sell-side analysts anticipate that Dominion Energy will post 3.6 EPS for the current fiscal year.
In related news, Director John W. Harris sold 5,616 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $80.71, for a total transaction of $453,267.36. Following the completion of the sale, the director now owns 18,920 shares in the company, valued at $1,527,033.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of D. Triangle Securities Wealth Management lifted its stake in Dominion Energy by 8.1% in the second quarter. Triangle Securities Wealth Management now owns 18,846 shares of the utilities provider’s stock valued at $1,444,000 after buying an additional 1,405 shares during the last quarter. Catawba Capital Management VA lifted its stake in Dominion Energy by 16.0% in the second quarter. Catawba Capital Management VA now owns 28,149 shares of the utilities provider’s stock valued at $2,157,000 after buying an additional 3,885 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Dominion Energy by 0.7% during the second quarter. Xact Kapitalforvaltning AB now owns 49,536 shares of the utilities provider’s stock worth $3,796,000 after purchasing an additional 329 shares during the last quarter. Bremer Trust National Association raised its stake in shares of Dominion Energy by 2.6% during the second quarter. Bremer Trust National Association now owns 3,642 shares of the utilities provider’s stock worth $279,000 after purchasing an additional 92 shares during the last quarter. Finally, Trust Co raised its stake in shares of Dominion Energy by 40.7% during the first quarter. Trust Co now owns 9,721 shares of the utilities provider’s stock worth $754,000 after purchasing an additional 2,811 shares during the last quarter. Institutional investors own 64.67% of the company’s stock.
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Dominion Energy Company Profile
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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