Dominion Energy (NYSE:D) Hits New 52-Week High at $57.65

Dominion Energy, Inc. (NYSE:D)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.65 and last traded at $57.61, with a volume of 314450 shares changing hands. The stock had previously closed at $56.73.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Bank of America raised shares of Dominion Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $43.00 to $54.00 in a research note on Friday, May 10th. BMO Capital Markets raised their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Scotiabank upped 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. Finally, StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.00.

Dominion Energy Stock Performance

The company has a market capitalization of $48.03 billion, a P/E ratio of 29.56, a P/E/G ratio of 1.50 and a beta of 0.58. 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 business’s fifty day simple moving average is $53.44 and its 200-day simple moving average is $51.11.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating 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 quarter last year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.66%. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Institutional Investors Weigh In On Dominion Energy

A number of hedge funds have recently bought and sold shares of D. Lincoln National Corp lifted its stake in shares of Dominion Energy by 8.9% in the 4th quarter. Lincoln National Corp now owns 11,060 shares of the utilities provider’s stock valued at $520,000 after purchasing an additional 902 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Dominion Energy by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,885,024 shares of the utilities provider’s stock worth $229,596,000 after buying an additional 187,726 shares during the last quarter. National Pension Service boosted its stake in Dominion Energy by 3.6% during the fourth quarter. National Pension Service now owns 2,097,729 shares of the utilities provider’s stock worth $98,593,000 after buying an additional 72,063 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its position in Dominion Energy by 7.7% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,394 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 747 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Dominion Energy in the 4th quarter worth about $624,000. 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.