Dominion Energy (NYSE:D) Given New $49.00 Price Target at Barclays

Dominion Energy (NYSE:D) had its price objective reduced by Barclays from $50.00 to $49.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research firms have also weighed in on D. BMO Capital Markets lowered Dominion Energy from an outperform rating to a market perform rating and set a $49.00 target price on the stock. in a report on Monday, March 11th. Mizuho cut their target price on Dominion Energy from $47.00 to $45.00 and set a neutral rating on the stock in a report on Wednesday, March 6th. Guggenheim cut their target price on Dominion Energy from $57.00 to $52.00 and set a buy rating on the stock in a report on Monday, March 4th. StockNews.com lowered Dominion Energy from a hold rating to a sell rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company raised their target price on Dominion Energy from $49.00 to $51.00 and gave the company an equal weight rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $50.10.

Dominion Energy Stock Performance

Shares of NYSE D opened at $47.92 on Monday. 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 stock has a market capitalization of $40.14 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.92 and a beta of 0.61. The stock’s fifty day simple moving average is $47.30 and its 200 day simple moving average is $45.96. Dominion Energy has a 52-week low of $39.18 and a 52-week high of $58.69.

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

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors 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 yield of 5.57%. Dominion Energy’s dividend payout ratio is 114.59%.

Insider Activity at Dominion Energy

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

Institutional Investors Weigh In On Dominion Energy

Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its holdings in shares of Dominion Energy by 7.7% in the 1st quarter. Sei Investments Co. now owns 168,723 shares of the utilities provider’s stock worth $14,325,000 after acquiring an additional 12,002 shares in the last quarter. Prudential PLC acquired a new position in shares of Dominion Energy in the 1st quarter worth approximately $1,528,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Dominion Energy by 30.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,195 shares of the utilities provider’s stock worth $611,000 after acquiring an additional 1,661 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Dominion Energy by 49.8% in the 1st quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 131 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Dominion Energy in the 1st quarter worth approximately $419,000. 73.04% of the stock is owned by institutional investors and hedge funds.

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.