Dominion Energy (D) Given New $67.33 Price Target at Bank of America

Dominion Energy (NYSE:D) had its target price trimmed by Bank of America from $70.00 to $67.33 in a research report report published on Wednesday. The brokerage currently has a neutral rating on the utilities provider’s stock.

D has been the subject of several other research reports. Hilliard Lyons upgraded shares of Dominion Energy from a neutral rating to a buy rating and set a $86.00 price target for the company in a report on Tuesday, January 30th. UBS cut shares of Dominion Energy from a buy rating to a neutral rating and set a $85.00 price target for the company. in a report on Friday, March 16th. JPMorgan Chase upgraded shares of Dominion Energy from a neutral rating to an overweight rating and set a $82.00 price target for the company in a report on Thursday, December 14th. Morgan Stanley boosted their price target on shares of Dominion Energy from $85.00 to $87.00 and gave the stock an equal weight rating in a report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded shares of Dominion Energy from a hold rating to a buy rating and set a $85.00 price target for the company in a report on Wednesday, January 17th. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $78.21.

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Shares of D opened at $66.22 on Wednesday. Dominion Energy has a fifty-two week low of $66.10 and a fifty-two week high of $85.30. The company has a market cap of $43,873.67, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 2.46 and a beta of 0.27. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 1.60.

Dominion Energy (NYSE:D) last announced its earnings results on Monday, January 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Dominion Energy had a net margin of 24.92% and a return on equity of 12.67%. The firm had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. research analysts forecast that Dominion Energy will post 4.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd were issued a $0.835 dividend. This is a boost from Dominion Energy’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $3.34 annualized dividend and a dividend yield of 5.04%. Dominion Energy’s dividend payout ratio is presently 92.78%.

In related news, Director John W. Harris sold 2,665 shares of the stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $80.60, for a total transaction of $214,799.00. Following the completion of the sale, the director now owns 13,282 shares in the company, valued at approximately $1,070,529.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph M. Rigby purchased 2,679 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price of $74.65 per share, with a total value of $199,987.35. The disclosure for this purchase can be found here. Corporate insiders own 0.37% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Dominion Energy by 69.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 598,654 shares of the utilities provider’s stock worth $46,114,000 after buying an additional 245,472 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Dominion Energy by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,108,658 shares of the utilities provider’s stock worth $85,290,000 after buying an additional 8,940 shares during the last quarter. KBC Group NV raised its position in Dominion Energy by 11.7% during the 3rd quarter. KBC Group NV now owns 73,850 shares of the utilities provider’s stock worth $5,681,000 after buying an additional 7,763 shares during the last quarter. Stifel Financial Corp raised its position in Dominion Energy by 14.7% during the 3rd quarter. Stifel Financial Corp now owns 292,671 shares of the utilities provider’s stock worth $22,518,000 after buying an additional 37,454 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Dominion Energy by 18.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 287,300 shares of the utilities provider’s stock worth $22,195,000 after buying an additional 44,100 shares during the last quarter. Hedge funds and other institutional investors own 65.29% of the company’s stock.

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About Dominion Energy

Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.

Analyst Recommendations for Dominion Energy (NYSE:D)

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