Dominion Energy (NYSE:D) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Dominion Energy (NYSE:D) in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage issued a hold rating and a $58.00 target price on the utilities provider’s stock.

Several other analysts have also issued reports on D. JPMorgan Chase & Co. raised their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a neutral rating in a research report on Monday, August 12th. BMO Capital Markets boosted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a market perform rating in a research note on Monday, August 5th. Finally, Scotiabank raised their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a sector perform rating in a research report on Tuesday, August 20th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $54.50.

Dominion Energy Stock Performance

NYSE:D opened at $57.93 on Friday. The firm has a market capitalization of $48.52 billion, a PE ratio of 29.86, a PEG ratio of 1.57 and a beta of 0.60. Dominion Energy has a 1 year low of $39.18 and a 1 year high of $58.94. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. The firm’s fifty day simple moving average is $55.23 and its 200 day simple moving average is $52.02.

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

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.6675 per share. The ex-dividend date was Friday, August 30th. This represents a $2.67 annualized dividend and a yield of 4.61%. Dominion Energy’s dividend payout ratio is currently 137.63%.

Hedge Funds Weigh In On Dominion Energy

Several institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its position in Dominion Energy by 380.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,232 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,767 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Dominion Energy during the second quarter worth $206,000. Sanctuary Advisors LLC acquired a new stake in shares of Dominion Energy in the second quarter valued at $7,594,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Dominion Energy in the second quarter valued at about $250,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Dominion Energy during the 2nd quarter worth about $53,000. 73.04% of the stock is owned by institutional investors.

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.