Seaport Res Ptn Brokers Cut Earnings Estimates for Dominion Energy, Inc. (NYSE:D)

Dominion Energy, Inc. (NYSE:D) – Investment analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for Dominion Energy in a research report issued on Monday, July 29th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings per share of $2.75 for the year, down from their prior forecast of $2.76. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share.

A number of other analysts have also commented on the company. Barclays decreased their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $43.00 to $54.00 in a research report on Friday, May 10th. Scotiabank reduced their target price on 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. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Mizuho increased their target price on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.64.

Dominion Energy Stock Up 3.7 %

D opened at $55.44 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. The firm has a market cap of $46.44 billion, a P/E ratio of 28.58, a PEG ratio of 1.42 and a beta of 0.58. Dominion Energy has a 52 week low of $39.18 and a 52 week high of $55.66. The business’s fifty day simple moving average is $51.18 and its 200 day simple moving average is $49.29.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates 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 for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share.

Hedge Funds Weigh In On Dominion Energy

A number of large investors have recently modified their holdings of D. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Dominion Energy by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock worth $535,000 after buying an additional 195 shares in the last quarter. Arlington Capital Management Inc. grew its holdings in shares of Dominion Energy by 1.2% in the 1st quarter. Arlington Capital Management Inc. now owns 16,476 shares of the utilities provider’s stock worth $810,000 after acquiring an additional 197 shares during the last quarter. Valley National Advisers Inc. grew its holdings in shares of Dominion Energy by 8.6% in the 2nd quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 198 shares during the last quarter. Centennial Wealth Advisory LLC grew its holdings in shares of Dominion Energy by 2.8% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock worth $362,000 after acquiring an additional 199 shares during the last quarter. Finally, Ridgewood Investments LLC grew its holdings in shares of Dominion Energy by 0.9% in the 1st quarter. Ridgewood Investments LLC now owns 24,536 shares of the utilities provider’s stock worth $1,207,000 after acquiring an additional 210 shares during the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders 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 4.82%. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

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.