Dominion Energy (D) Cut to Underperform at Bank of America

Bank of America downgraded shares of Dominion Energy (NYSE:D) from a neutral rating to an underperform rating in a research note released on Friday morning, MarketBeat Ratings reports. The firm currently has $69.00 target price on the utilities provider’s stock, down from their prior target price of $72.00.

Several other equities research analysts have also recently weighed in on D. Wells Fargo & Co reiterated a hold rating and set a $76.00 price target (up from $73.00) on shares of Dominion Energy in a research report on Monday, September 17th. Zacks Investment Research upgraded shares of Dominion Energy from a hold rating to a buy rating and set a $80.00 price objective on the stock in a research report on Tuesday, September 18th. Argus upped their price objective on shares of Dominion Energy from $74.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, September 19th. They noted that the move was a valuation call. Macquarie set a $74.00 price objective on shares of Dominion Energy and gave the stock a buy rating in a research report on Tuesday, September 25th. Finally, ValuEngine upgraded shares of Dominion Energy from a sell rating to a hold rating in a research report on Saturday, October 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $85.55.

Shares of D opened at $69.85 on Friday. Dominion Energy has a twelve month low of $61.53 and a twelve month high of $77.19. The stock has a market cap of $47.41 billion, a PE ratio of 19.40, a P/E/G ratio of 2.53 and a beta of 0.21. The company has a current ratio of 0.62, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.02. Dominion Energy had a return on equity of 13.24% and a net margin of 24.63%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period in the prior year, the business posted $1.04 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Dominion Energy will post 4.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 20th. Investors of record on Friday, December 7th were given a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Thursday, December 6th. Dominion Energy’s dividend payout ratio (DPR) is 92.78%.

In related news, CFO James R. Chapman acquired 4,053 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The shares were bought at an average cost of $74.02 per share, for a total transaction of $300,003.06. Following the completion of the transaction, the chief financial officer now owns 22,256 shares in the company, valued at $1,647,389.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Plimoth Trust Co. LLC boosted its stake in Dominion Energy by 1.9% in the third quarter. Plimoth Trust Co. LLC now owns 18,254 shares of the utilities provider’s stock worth $1,283,000 after buying an additional 333 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Dominion Energy by 0.8% in the fourth quarter. Moody National Bank Trust Division now owns 49,282 shares of the utilities provider’s stock worth $3,521,000 after buying an additional 399 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Dominion Energy by 18.0% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 4,608 shares of the utilities provider’s stock worth $324,000 after buying an additional 702 shares in the last quarter. Cleararc Capital Inc. boosted its stake in Dominion Energy by 1.0% in the third quarter. Cleararc Capital Inc. now owns 74,464 shares of the utilities provider’s stock worth $5,233,000 after buying an additional 720 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in Dominion Energy by 6.4% in the third quarter. Good Life Advisors LLC now owns 12,415 shares of the utilities provider’s stock worth $873,000 after buying an additional 748 shares in the last quarter. 66.99% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Company Profile

Dominion Energy, Inc engages in the provision of electricity and natural gas to homes, businesses, and wholesale customers. Its operations also include a regulated interstate natural gas transmission pipeline and underground storage system. It operates through following business segments: Power Delivery, Power Generation, and Gas Infrastructure.

Featured Story: When is a capital gain realized?

Analyst Recommendations for Dominion Energy (NYSE:D)

Receive News & Ratings for Dominion Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit