Bank of America Issues Positive Forecast for Dominion Energy (NYSE:D) Stock Price

Dominion Energy (NYSE:D) had its price target increased by Bank of America from $63.00 to $65.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

D has been the topic of several other reports. TD Cowen initiated coverage on shares of Dominion Energy in a research report on Friday, January 9th. They set a “hold” rating and a $65.00 target price on the stock. Scotiabank boosted their target price on shares of Dominion Energy from $63.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Mizuho boosted their target price on shares of Dominion Energy from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Wells Fargo & Company decreased their target price on shares of Dominion Energy from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group boosted their target price on shares of Dominion Energy from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $65.42.

Dominion Energy Stock Performance

Shares of D opened at $62.41 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.59 and a current ratio of 0.77. The stock has a market capitalization of $54.86 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.72 and a beta of 0.67. The company’s fifty day moving average is $63.01 and its two-hundred day moving average is $61.16. Dominion Energy has a 1 year low of $51.42 and a 1 year high of $67.57.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Monday, February 23rd. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Dominion Energy had a net margin of 18.05% and a return on equity of 9.67%. Dominion Energy’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. On average, sell-side analysts predict that Dominion Energy will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, February 27th were given a dividend of $0.6675 per share. The ex-dividend date was Friday, February 27th. This represents a $2.67 dividend on an annualized basis and a yield of 4.3%. Dominion Energy’s payout ratio is presently 77.62%.

Hedge Funds Weigh In On Dominion Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV raised its position in Dominion Energy by 5.3% during the first quarter. Nations Financial Group Inc. IA ADV now owns 8,960 shares of the utilities provider’s stock worth $554,000 after acquiring an additional 455 shares during the last quarter. Cornerstone Planning LLC acquired a new position in Dominion Energy during the fourth quarter worth about $904,000. Rockefeller Capital Management L.P. lifted its holdings in Dominion Energy by 39.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 260,507 shares of the utilities provider’s stock valued at $15,263,000 after purchasing an additional 73,276 shares in the last quarter. World Investment Advisors boosted its stake in shares of Dominion Energy by 29.6% during the 4th quarter. World Investment Advisors now owns 17,337 shares of the utilities provider’s stock worth $1,016,000 after purchasing an additional 3,959 shares during the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of Dominion Energy during the 4th quarter worth about $215,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

About Dominion Energy

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.