Dominion Energy (NYSE:D) Reaches New 1-Year High on Earnings Beat

Dominion Energy, Inc. (NYSE:D)’s stock price reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $54.35 and last traded at $54.33, with a volume of 595389 shares changing hands. The stock had previously closed at $53.46.

The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.90%. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on D. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Mizuho raised their price objective on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Wells Fargo & Company increased their target price on Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Scotiabank reduced their target price on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Bank of America raised shares of Dominion Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $43.00 to $54.00 in a research report on Friday, May 10th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Dominion Energy presently has an average rating of “Hold” and a consensus price target of $51.64.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Family Firm Inc. bought a new position in shares of Dominion Energy during the 2nd quarter worth approximately $27,000. Criterion Capital Advisors LLC acquired a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in shares of Dominion Energy during the first quarter valued at $30,000. LRI Investments LLC acquired a new position in Dominion Energy during the 1st quarter valued at about $30,000. Finally, Venturi Wealth Management LLC grew its position in shares of Dominion Energy by 84.5% during the 4th quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock worth $32,000 after buying an additional 310 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

The firm has a market capitalization of $45.68 billion, a P/E ratio of 27.55, a P/E/G ratio of 1.42 and a beta of 0.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94. The stock’s 50 day moving average is $51.12 and its two-hundred day moving average is $49.25.

Dominion Energy Company Profile

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.