Dominion Energy (NYSE:D) Sets New 52-Week High – Time to Buy?

Dominion Energy Inc. (NYSE:D) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $62.91 and last traded at $62.30, with a volume of 5491415 shares. The stock had previously closed at $61.43.

Analyst Ratings Changes

Several brokerages recently issued reports on D. TD Cowen began coverage on Dominion Energy in a research note on Friday, January 9th. They set a “hold” rating and a $65.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Dominion Energy in a research report on Monday, December 29th. Morgan Stanley boosted their price objective on shares of Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. BTIG Research started coverage on Dominion Energy in a research note on Wednesday, October 22nd. They set a “neutral” rating for the company. Finally, Evercore ISI initiated coverage on shares of Dominion Energy in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $67.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.33.

Dominion Energy Stock Up 1.4%

The stock has a market cap of $53.20 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 1.63 and a beta of 0.71. The company has a current ratio of 0.84, a quick ratio of 0.65 and a debt-to-equity ratio of 1.41. The stock’s 50-day moving average is $59.62 and its 200-day moving average is $60.08.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 27th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.67 annualized dividend and a yield of 4.3%. Dominion Energy’s payout ratio is presently 90.82%.

Institutional Trading of Dominion Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CoreFirst Bank & Trust acquired a new position in shares of Dominion Energy in the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. boosted its holdings in Dominion Energy by 123.3% during the second quarter. Westside Investment Management Inc. now owns 469 shares of the utilities provider’s stock worth $27,000 after buying an additional 259 shares in the last quarter. Triumph Capital Management bought a new stake in Dominion Energy during the third quarter worth approximately $28,000. United Community Bank bought a new position in shares of Dominion Energy in the third quarter valued at $29,000. Finally, Costello Asset Management INC increased its holdings in shares of Dominion Energy by 66.7% in the fourth quarter. Costello Asset Management INC now owns 500 shares of the utilities provider’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

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.