KeyCorp Forecasts Dominion Energy’s FY2024 Earnings (NYSE:D)

Dominion Energy, Inc. (NYSE:D) – Equities researchers at KeyCorp reduced their FY2024 EPS estimates for shares of Dominion Energy in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $2.76 for the year, down from their prior forecast of $2.79. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share. KeyCorp also issued estimates for Dominion Energy’s FY2026 earnings at $3.55 EPS.

Several other equities research analysts have also issued reports on the stock. Scotiabank increased their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley assumed coverage on Dominion Energy in a research report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research report on Friday, November 8th. Barclays upped their target price on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.33.

Dominion Energy Trading Down 1.5 %

Shares of NYSE D opened at $56.05 on Friday. Dominion Energy has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The company has a market cap of $47.08 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.50 and a beta of 0.59. The business’s 50 day moving average price is $58.13 and its 200-day moving average price is $55.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74.

Dominion Energy (NYSE:D) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis.

Hedge Funds Weigh In On Dominion Energy

A number of hedge funds have recently made changes to their positions in the stock. Family Firm Inc. acquired a new position in Dominion Energy in the 2nd quarter valued at about $27,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Dominion Energy in the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Dominion Energy in the third quarter valued at approximately $32,000. Triad Wealth Partners LLC purchased a new stake in Dominion Energy during the 2nd quarter worth approximately $33,000. Finally, Dunhill Financial LLC lifted its holdings in Dominion Energy by 601.2% during the 3rd quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock worth $33,000 after buying an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a $0.6675 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.76%. Dominion Energy’s payout ratio is currently 93.68%.

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.