Dominion Energy (NYSE:D) Hits New 52-Week High on Analyst Upgrade

Dominion Energy, Inc. (NYSE:D) shares hit a new 52-week high on Wednesday after Barclays raised their price target on the stock from $54.00 to $58.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as high as $59.08 and last traded at $59.04, with a volume of 1934414 shares trading hands. The stock had previously closed at $57.61.

Several other research analysts have also recently issued reports on the stock. Scotiabank lifted their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group started coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $55.40.

Hedge Funds Weigh In On Dominion Energy

A number of hedge funds have recently modified their holdings of D. Caprock Group LLC boosted its position in shares of Dominion Energy by 133.0% during the second quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider’s stock worth $474,000 after acquiring an additional 5,525 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Dominion Energy by 105.0% during the first quarter. SG Americas Securities LLC now owns 97,105 shares of the utilities provider’s stock worth $4,777,000 after acquiring an additional 49,740 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Dominion Energy by 14.1% during the first quarter. Wedmont Private Capital now owns 4,822 shares of the utilities provider’s stock worth $239,000 after acquiring an additional 596 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Dominion Energy during the first quarter worth $708,000. Finally, QRG Capital Management Inc. purchased a new stake in Dominion Energy during the first quarter valued at $272,000. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Trading Down 1.3 %

The company has a market cap of $50.04 billion, a PE ratio of 30.79, a P/E/G ratio of 1.52 and a beta of 0.60. The stock’s 50 day moving average is $56.99 and its 200-day moving average is $53.22. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

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

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Friday, August 30th. Dominion Energy’s dividend payout ratio is currently 137.63%.

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.