Dominion Energy (NYSE:D) Trading Down 2.3% Following Analyst Downgrade

Shares of Dominion Energy, Inc. (NYSE:D) fell 2.3% during mid-day trading on Tuesday 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 $46.75 and last traded at $46.83. 582,133 shares were traded during mid-day trading, a decline of 89% from the average session volume of 5,453,756 shares. The stock had previously closed at $47.92.

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

Insider Buying and Selling

In other news, CEO Robert M. Blue acquired 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph M. Rigby purchased 2,130 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was 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 disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dominion Energy

Several institutional investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp increased its stake in Dominion Energy by 31.1% in the first quarter. Toth Financial Advisory Corp now owns 53,056 shares of the utilities provider’s stock valued at $2,610,000 after purchasing an additional 12,594 shares during the last quarter. Independence Bank of Kentucky grew its position in Dominion Energy by 35.2% during the first quarter. Independence Bank of Kentucky now owns 3,940 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 1,025 shares during the period. S.E.E.D. Planning Group LLC grew its position in Dominion Energy by 1.1% during the first quarter. S.E.E.D. Planning Group LLC now owns 175,034 shares of the utilities provider’s stock valued at $8,610,000 after acquiring an additional 1,959 shares during the period. Register Financial Advisors LLC purchased a new stake in Dominion Energy during the first quarter valued at about $218,000. Finally, Fifth Third Wealth Advisors LLC grew its position in Dominion Energy by 15.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 28,797 shares of the utilities provider’s stock valued at $1,417,000 after acquiring an additional 3,940 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

The stock has a 50-day simple moving average of $47.34 and a 200-day simple moving average of $45.97. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market cap of $39.24 billion, a PE ratio of 20.11, a P/E/G ratio of 1.92 and a beta of 0.61.

Dominion Energy (NYSE:D) last issued 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 return on equity of 8.83% and a net margin of 12.40%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the company earned $1.06 EPS. Dominion Energy’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts predict that Dominion Energy, Inc. will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend 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.