Dominion Energy (NYSE:D) Hits New 52-Week High Following Analyst Upgrade

Dominion Energy Inc (NYSE:D) reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $86.00 to $87.00. Morgan Stanley currently has an equal weight rating on the stock. Dominion Energy traded as high as $82.67 and last traded at $82.55, with a volume of 101510 shares. The stock had previously closed at $81.80.

A number of other equities research analysts have also recently commented on D. Wells Fargo & Co set a $83.00 target price on Dominion Energy and gave the stock a “hold” rating in a research note on Friday, August 30th. Wolfe Research raised Dominion Energy from a “peer perform” rating to an “outperform” rating in a research report on Thursday, August 1st. TheStreet raised Dominion Energy from a “c+” rating to a “b-” rating in a research report on Thursday, September 19th. Zacks Investment Research cut Dominion Energy from a “hold” rating to a “sell” rating and set a $83.00 price objective on the stock. in a research report on Thursday, July 4th. Finally, JPMorgan Chase & Co. increased their price objective on Dominion Energy from $78.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Dominion Energy currently has a consensus rating of “Hold” and an average price target of $81.09.

In other news, Director Michael E. Szymanczyk bought 21,400 shares of the company’s stock in a transaction on Friday, September 13th. The shares were acquired at an average cost of $78.85 per share, with a total value of $1,687,390.00. Following the completion of the transaction, the director now owns 19,541 shares of the company’s stock, valued at approximately $1,540,807.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jeffrey Michael Zeiler bought 15,112 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $6.31 per share, for a total transaction of $95,356.72. Company insiders own 0.26% of the company’s stock.

A number of large investors have recently made changes to their positions in D. Cambridge Trust Co. raised its stake in shares of Dominion Energy by 2.1% in the second quarter. Cambridge Trust Co. now owns 10,642 shares of the utilities provider’s stock worth $822,000 after buying an additional 215 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Dominion Energy by 1.7% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 53,841 shares of the utilities provider’s stock worth $4,163,000 after buying an additional 915 shares during the period. Capital Advisors Inc. OK raised its stake in shares of Dominion Energy by 310.6% in the second quarter. Capital Advisors Inc. OK now owns 132,633 shares of the utilities provider’s stock worth $10,255,000 after buying an additional 100,333 shares during the period. Cypress Wealth Services LLC raised its stake in shares of Dominion Energy by 17.3% in the second quarter. Cypress Wealth Services LLC now owns 6,062 shares of the utilities provider’s stock worth $469,000 after buying an additional 896 shares during the period. Finally, Cetera Advisors LLC raised its stake in shares of Dominion Energy by 8.3% in the second quarter. Cetera Advisors LLC now owns 38,301 shares of the utilities provider’s stock worth $2,965,000 after buying an additional 2,946 shares during the period. 65.18% of the stock is currently owned by institutional investors and hedge funds.

The firm has a 50 day moving average price of $79.62 and a 200 day moving average price of $77.15. The stock has a market cap of $65.99 billion, a P/E ratio of 20.36, a P/E/G ratio of 4.05 and a beta of 0.22. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.38.

Dominion Energy (NYSE:D) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a return on equity of 11.74% and a net margin of 5.94%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. Equities analysts predict that Dominion Energy Inc will post 4.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a yield of 4.45%. The ex-dividend date was Thursday, September 5th. Dominion Energy’s dividend payout ratio (DPR) is presently 90.62%.

About Dominion Energy (NYSE:D)

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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