Dominion Energy (NYSE:D) Stock Price Down 1.5% on Analyst Downgrade

Dominion Energy, Inc. (NYSE:D) shares fell 1.5% on Monday after Barclays lowered their price target on the stock from $50.00 to $49.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as low as $48.14 and last traded at $48.17. 766,260 shares were traded during trading, a decline of 86% from the average session volume of 5,470,732 shares. The stock had previously closed at $48.91.

Several other equities research analysts have also commented on the company. Scotiabank reduced their price objective on Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. BMO Capital Markets lowered Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Monday, March 11th. Wells Fargo & Company increased their price target on Dominion Energy from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Guggenheim cut their price target on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Finally, Mizuho cut their price target on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dominion Energy has an average rating of “Hold” and a consensus price target of $50.10.

Insider Buying and Selling

In related news, CEO Robert M. Blue bought 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the transaction, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Joseph M. Rigby bought 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert M. Blue bought 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dominion Energy

Institutional investors have recently bought and sold shares of the business. Diamond Hill Capital Management Inc. increased its holdings in Dominion Energy by 5.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock valued at $178,176,000 after buying an additional 199,629 shares during the period. Assenagon Asset Management S.A. boosted its stake in Dominion Energy by 196.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after acquiring an additional 259,978 shares in the last quarter. CWM LLC boosted its stake in Dominion Energy by 18.7% in the third quarter. CWM LLC now owns 553,557 shares of the utilities provider’s stock valued at $24,727,000 after acquiring an additional 87,280 shares in the last quarter. Morgan Stanley boosted its stake in Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after acquiring an additional 803,341 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in Dominion Energy by 97.3% in the fourth quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after acquiring an additional 7,071 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Trading Down 2.0 %

The company has a market capitalization of $40.14 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.92 and a beta of 0.61. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The company’s 50 day simple moving average is $47.30 and its two-hundred day simple moving average is $45.96.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $1.06 earnings per share. Dominion Energy’s revenue was down 7.2% on a year-over-year basis. As a group, research analysts anticipate that Dominion Energy, Inc. will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were paid a dividend of $0.6675 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a dividend yield of 5.57%. Dominion Energy’s payout ratio is currently 114.59%.

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.