BMO Capital Markets Cuts Dominion Energy (NYSE:D) Price Target to $51.00

Dominion Energy (NYSE:D) had its price objective cut by BMO Capital Markets from $52.00 to $51.00 in a report published on Tuesday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the company. Bank of America raised Dominion Energy from an underperform rating to a neutral rating and boosted their price objective for the company from $43.00 to $54.00 in a report on Friday, May 10th. Barclays decreased their price objective on Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a report on Monday, April 15th. Scotiabank reduced their price target on Dominion Energy from $49.00 to $48.00 and set a sector perform rating for the company in a report on Monday, April 22nd. Wells Fargo & Company upped their price target on Dominion Energy from $51.00 to $55.00 and gave the stock an equal weight rating in a report on Friday, May 3rd. Finally, Evercore ISI upped their price target on Dominion Energy from $47.00 to $53.00 and gave the stock an in-line rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $51.64.

Dominion Energy Stock Up 0.7 %

Dominion Energy stock opened at $51.97 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. The business’s 50-day simple moving average is $51.36 and its two-hundred day simple moving average is $48.85. The company has a market cap of $43.53 billion, a PE ratio of 26.79, a PEG ratio of 1.38 and a beta of 0.58. Dominion Energy has a fifty-two week low of $39.18 and a fifty-two week high of $54.74.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 EPS. Equities analysts anticipate that Dominion Energy will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were paid a dividend of $0.6675 per share. The ex-dividend date was Friday, May 31st. This represents a $2.67 annualized dividend and a yield of 5.14%. Dominion Energy’s dividend payout ratio (DPR) is currently 137.63%.

Institutional Investors Weigh In On Dominion Energy

Several large investors have recently bought and sold shares of D. Wellington Management Group LLP grew its position in shares of Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after purchasing an additional 14,105,237 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after purchasing an additional 12,178,713 shares in the last quarter. Capital Research Global Investors grew its position in shares of Dominion Energy by 136.5% in the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after purchasing an additional 10,370,768 shares in the last quarter. Norges Bank purchased a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $329,792,000. Finally, ClearBridge Investments Ltd purchased a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $214,220,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

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.