According to Zacks, “In the last 12 months shares of Dominion Energy have outperformed its industry. Dominion Energy is benefiting from its regulated growth projects and synergies from acquisition. The company’s expansion of electric transmission, natural gas facilities and midstream assets are strong positives. The company completed its merger with SCANA and it is likely to be immediately accretive to earnings. However, Dominion Energy’s future earnings may get affected due to increase in pension expenses and share dilution. The company and its gas unit’s dependency upon third-party producers for natural gas supply increases risk. Any delay in the ongoing capital projects may impact Dominion Energy’s profitability.”
D has been the topic of several other research reports. JPMorgan Chase & Co. downgraded Dominion Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $79.00 to $73.00 in a report on Tuesday, January 22nd. Macquarie set a $78.00 price objective on Dominion Energy and gave the stock a “buy” rating in a report on Monday, January 14th. ValuEngine downgraded Dominion Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Bank of America downgraded Dominion Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $72.00 to $69.00 in a report on Friday, January 11th. Finally, Wolfe Research set a $79.00 price target on Dominion Energy and gave the company a “hold” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.08.
Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, February 1st. The utilities provider reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.13 billion. Dominion Energy had a return on equity of 12.85% and a net margin of 18.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities analysts expect that Dominion Energy will post 4.2 earnings per share for the current year.
In related news, CEO Diane Leopold sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $71.31, for a total transaction of $178,275.00. Following the sale, the chief executive officer now owns 48,677 shares of the company’s stock, valued at approximately $3,471,156.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director D Maybank Hagood acquired 1,965 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $76.34 per share, for a total transaction of $150,008.10. Following the purchase, the director now directly owns 2,975 shares in the company, valued at approximately $227,111.50. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Semmax Financial Advisors Inc. bought a new position in Dominion Energy during the 4th quarter worth about $1,529,000. Canada Pension Plan Investment Board increased its holdings in Dominion Energy by 17.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,068 shares of the utilities provider’s stock worth $708,000 after purchasing an additional 1,500 shares in the last quarter. Motco increased its holdings in Dominion Energy by 0.9% during the 4th quarter. Motco now owns 51,862 shares of the utilities provider’s stock worth $3,706,000 after purchasing an additional 476 shares in the last quarter. UNIVEST FINANCIAL Corp increased its holdings in Dominion Energy by 12.2% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 5,031 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 546 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its holdings in Dominion Energy by 10.2% during the 3rd quarter. Griffin Asset Management Inc. now owns 95,105 shares of the utilities provider’s stock worth $6,684,000 after purchasing an additional 8,785 shares in the last quarter. 58.90% of the stock is currently owned by institutional investors and hedge funds.
About Dominion Energy
Dominion Energy, Inc produces and transports energy. 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.
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