Dominion Energy (NYSE:D) Price Target Raised to $57.00

Dominion Energy (NYSE:D) had its price objective upped by JPMorgan Chase & Co. from $54.00 to $57.00 in a research report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

Other research analysts also recently issued reports about the company. Bank of America upgraded Dominion Energy from an underperform rating to a neutral rating and raised their price objective for the stock from $43.00 to $54.00 in a report on Friday, May 10th. StockNews.com upgraded Dominion Energy from a sell rating to a hold rating in a report on Friday, May 10th. BMO Capital Markets lifted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a market perform rating in a report on Monday, August 5th. Evercore ISI lifted their price target on Dominion Energy from $47.00 to $53.00 and gave the company an in-line rating in a report on Friday, May 3rd. Finally, Mizuho lifted their price target on Dominion Energy from $45.00 to $52.00 and gave the company a neutral rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy currently has an average rating of Hold and a consensus price target of $52.73.

Dominion Energy Price Performance

Shares of D stock opened at $55.50 on Monday. Dominion Energy has a 52-week low of $39.18 and a 52-week high of $57.60. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The firm has a market capitalization of $46.56 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.46 and a beta of 0.58. The stock has a 50 day moving average price of $51.49 and a 200 day moving average price of $49.90.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the company earned $0.53 EPS. Dominion Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Dominion Energy will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a $0.6675 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.81%. Dominion Energy’s dividend payout ratio is presently 137.63%.

Hedge Funds Weigh In On Dominion Energy

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC increased its stake in Dominion Energy by 1,797.9% during the 4th quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock worth $7,798,000 after buying an additional 157,175 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Dominion Energy by 81.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 18,936 shares of the utilities provider’s stock worth $890,000 after buying an additional 8,484 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $263,000. Graypoint LLC grew its position in shares of Dominion Energy by 15.1% in the fourth quarter. Graypoint LLC now owns 5,446 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 714 shares in the last quarter. Finally, Simplicity Solutions LLC grew its position in shares of Dominion Energy by 56.9% in the fourth quarter. Simplicity Solutions LLC now owns 26,809 shares of the utilities provider’s stock valued at $1,260,000 after purchasing an additional 9,724 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

About Dominion Energy

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.