Dominion Energy (D) Lowered to “Neutral” at Bank of America

Dominion Energy (NYSE:D) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $79.00 price target on the utilities provider’s stock, up from their previous price target of $69.15. Bank of America’s price target would indicate a potential upside of 14.99% from the stock’s previous close.

Several other equities analysts also recently commented on D. Zacks Investment Research upgraded shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Wednesday, January 17th. JPMorgan Chase & Co. downgraded shares of Dominion Energy from an “overweight” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research note on Friday. Morgan Stanley upped their price target on shares of Dominion Energy from $85.00 to $87.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Hilliard Lyons upgraded shares of Dominion Energy from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Tuesday, January 30th. Finally, UBS initiated coverage on shares of Dominion Energy in a research note on Friday, February 2nd. They set a “buy” rating and a $85.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Dominion Energy currently has a consensus rating of “Hold” and a consensus target price of $80.73.

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Shares of Dominion Energy (D) traded down $0.45 on Tuesday, hitting $68.70. 1,578,873 shares of the stock traded hands, compared to its average volume of 4,813,756. The company has a market capitalization of $46,004.16, a price-to-earnings ratio of 14.08, a PEG ratio of 2.47 and a beta of 0.23. Dominion Energy has a 52 week low of $68.63 and a 52 week high of $85.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.45 and a quick ratio of 0.30.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Monday, January 29th. The utilities provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.47 billion. Dominion Energy had a net margin of 24.92% and a return on equity of 12.67%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 earnings per share. sell-side analysts expect that Dominion Energy will post 4.05 EPS for the current year.

In other Dominion Energy news, Director Joseph M. Rigby acquired 2,679 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $74.65 per share, for a total transaction of $199,987.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John W. Harris sold 11,254 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $79.94, for a total transaction of $899,644.76. Following the transaction, the director now owns 13,282 shares of the company’s stock, valued at approximately $1,061,763.08. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Dominion Energy by 4.4% during the 4th quarter. BlackRock Inc. now owns 45,032,247 shares of the utilities provider’s stock worth $3,650,316,000 after buying an additional 1,902,352 shares during the period. Millennium Management LLC grew its position in Dominion Energy by 97.0% in the 4th quarter. Millennium Management LLC now owns 1,446,750 shares of the utilities provider’s stock valued at $117,274,000 after purchasing an additional 712,261 shares during the period. Epoch Investment Partners Inc. grew its position in Dominion Energy by 24.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 3,527,979 shares of the utilities provider’s stock valued at $271,408,000 after purchasing an additional 684,637 shares during the period. TIAA CREF Investment Management LLC grew its position in Dominion Energy by 22.1% in the 4th quarter. TIAA CREF Investment Management LLC now owns 2,744,991 shares of the utilities provider’s stock valued at $222,509,000 after purchasing an additional 496,009 shares during the period. Finally, Janus Henderson Group PLC grew its position in Dominion Energy by 29.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,164,104 shares of the utilities provider’s stock valued at $166,481,000 after purchasing an additional 491,667 shares during the period. Hedge funds and other institutional investors own 65.28% of the company’s stock.

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About Dominion Energy

Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.

Analyst Recommendations for Dominion Energy (NYSE:D)

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