Dominion Energy (NYSE:D) Stock Price Down 4.6% – Here’s Why

Dominion Energy, Inc. (NYSE:D) shares were down 4.6% during trading on Tuesday . The company traded as low as $53.01 and last traded at $53.75. Approximately 1,884,444 shares changed hands during trading, a decline of 56% from the average daily volume of 4,281,156 shares. The stock had previously closed at $56.32.

Analysts Set New Price Targets

D has been the topic of several research reports. Scotiabank raised their price objective on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Barclays upped their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Morgan Stanley assumed coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research note on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Dominion Energy has a consensus rating of “Hold” and an average price target of $56.58.

Dominion Energy Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock has a market cap of $45.24 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.21 and a beta of 0.61. The stock’s fifty day moving average is $54.91 and its 200-day moving average is $56.15.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the company earned $0.77 EPS. Dominion Energy’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Friday, February 28th. Dominion Energy’s dividend payout ratio is 93.68%.

Institutional Investors Weigh In On Dominion Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in D. BankPlus Trust Department bought a new position in shares of Dominion Energy during the fourth quarter valued at $26,000. Roble Belko & Company Inc bought a new position in Dominion Energy in the fourth quarter worth approximately $27,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Dominion Energy in the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC bought a new stake in shares of Dominion Energy during the third quarter valued at approximately $32,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Dominion Energy by 601.2% in the 3rd quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 487 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

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.