Dominion Energy (NYSE:D) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of Dominion Energy (NYSE:D) in a report issued on Friday morning, MarketBeat reports. The brokerage issued a hold rating and a $65.00 target price on the utilities provider’s stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley lifted their target price on shares of Dominion Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. Evercore ISI started coverage on shares of Dominion Energy in a research report on Tuesday, October 7th. They set an “in-line” rating and a $67.00 price target on the stock. Wells Fargo & Company initiated coverage on Dominion Energy in a report on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 price objective on the stock. Barclays raised their target price on Dominion Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Finally, BMO Capital Markets decreased their price target on Dominion Energy from $67.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.78.

Dominion Energy Stock Performance

NYSE D opened at $57.96 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.65 and a current ratio of 0.84. The stock’s fifty day moving average is $59.76 and its two-hundred day moving average is $59.68. The firm has a market capitalization of $49.50 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72. Dominion Energy has a fifty-two week low of $48.07 and a fifty-two week high of $62.87.

Dominion Energy (NYSE:D) last issued its earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.71 billion. Dominion Energy had a return on equity of 9.60% and a net margin of 16.17%.The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. On average, research analysts anticipate that Dominion Energy will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 20th. Shareholders of record on Friday, December 5th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Friday, December 5th. Dominion Energy’s payout ratio is currently 90.82%.

Hedge Funds Weigh In On Dominion Energy

Large investors have recently modified their holdings of the business. Brighton Jones LLC raised its position in Dominion Energy by 64.3% in the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock worth $489,000 after acquiring an additional 3,553 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Dominion Energy during the 1st quarter worth $569,000. Empowered Funds LLC grew its stake in shares of Dominion Energy by 8.3% during the 1st quarter. Empowered Funds LLC now owns 17,571 shares of the utilities provider’s stock worth $985,000 after purchasing an additional 1,344 shares during the period. Woodline Partners LP increased its holdings in shares of Dominion Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 70,968 shares of the utilities provider’s stock valued at $3,979,000 after purchasing an additional 20,522 shares in the last quarter. Finally, Glenview Trust co lifted its stake in shares of Dominion Energy by 12.5% in the first quarter. Glenview Trust co now owns 11,257 shares of the utilities provider’s stock valued at $631,000 after purchasing an additional 1,251 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Company Profile

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.