Seaport Res Ptn Predicts Dominion Energy FY2024 Earnings

Dominion Energy, Inc. (NYSE:D) – Investment analysts at Seaport Res Ptn raised their FY2024 EPS estimates for Dominion Energy in a research note issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $2.76 per share for the year, up from their previous 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.

A number of other research firms also recently weighed in on D. Jefferies Financial Group started coverage on shares of Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price target for the company. Scotiabank increased their price target 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. Barclays lifted their price objective on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Morgan Stanley started coverage on Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $61.00 target price on shares of Dominion Energy in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Price Performance

D opened at $54.62 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The company’s 50 day simple moving average is $56.03 and its 200-day simple moving average is $55.51. Dominion Energy has a one year low of $43.53 and a one year high of $61.97. The stock has a market capitalization of $45.88 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60.

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

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were paid a dividend of $0.6675 per share. The ex-dividend date was Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.89%. Dominion Energy’s dividend payout ratio (DPR) is currently 93.68%.

Institutional Investors Weigh In On Dominion Energy

A number of institutional investors have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Dominion Energy by 63.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock worth $487,567,000 after purchasing an additional 3,278,175 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Dominion Energy by 10,324.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock valued at $130,074,000 after buying an additional 2,229,220 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Dominion Energy by 7,438.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock valued at $85,734,000 after buying an additional 1,463,858 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Dominion Energy during the 2nd quarter worth approximately $67,854,000. Finally, State Street Corp boosted its position in shares of Dominion Energy by 3.2% during the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after acquiring an additional 1,365,555 shares in the last quarter. 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.