Seaport Res Ptn Comments on Dominion Energy FY2024 Earnings

Dominion Energy, Inc. (NYSE:D) – Stock analysts at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for Dominion Energy in a report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $2.76 per share for the year, up from their prior forecast of $2.75. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share. Seaport Res Ptn also issued estimates for Dominion Energy’s FY2026 earnings at $3.63 EPS.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group initiated coverage on Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Morgan Stanley began coverage on Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price objective on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research note on Friday, November 8th. Scotiabank upped their price objective on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Barclays upped their price objective on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.58.

Dominion Energy Price Performance

NYSE D opened at $53.64 on Tuesday. Dominion Energy has a twelve month low of $43.53 and a twelve month high of $61.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. The stock has a market capitalization of $45.06 billion, a PE ratio of 18.82, a P/E/G ratio of 1.44 and a beta of 0.60. The stock has a 50-day simple moving average of $56.20 and a 200 day simple moving average of $55.49.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Friday, November 29th. Dominion Energy’s payout ratio is 93.68%.

Institutional Trading of Dominion Energy

Several hedge funds have recently added to or reduced their stakes in D. BLB&B Advisors LLC increased its stake in Dominion Energy by 2.5% during the 3rd quarter. BLB&B Advisors LLC now owns 7,223 shares of the utilities provider’s stock worth $417,000 after purchasing an additional 173 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its position in shares of Dominion Energy by 2.6% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 7,786 shares of the utilities provider’s stock worth $450,000 after acquiring an additional 195 shares in the last quarter. Altman Advisors Inc. raised its holdings in shares of Dominion Energy by 0.7% during the second quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock worth $1,423,000 after acquiring an additional 198 shares during the period. Passumpsic Savings Bank lifted its position in Dominion Energy by 2.7% in the 3rd quarter. Passumpsic Savings Bank now owns 7,639 shares of the utilities provider’s stock valued at $441,000 after acquiring an additional 199 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Dominion Energy by 3.5% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,920 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds 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.