Dominion Energy (NYSE:D) Sets New 12-Month Low - Here's Why

Dominion Energy, Inc. (NYSE:D - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $53.29 and last traded at $54.38, with a volume of 6156270 shares trading hands. The stock had previously closed at $54.31.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on D shares. Morgan Stanley upped their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a report on Tuesday, April 8th. UBS Group lifted their target price on shares of Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, Argus upgraded Dominion Energy to a "hold" rating in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.22.

Dominion Energy Trading Up 0.4 %

The firm has a market cap of $46.55 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.22 and a beta of 0.57. 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 $54.03 and its 200 day simple moving average is $55.34.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $3.95 billion. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The firm's revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. As a group, research analysts expect that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dominion Energy

Hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in Dominion Energy by 450.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 378 shares during the last quarter. Cape Investment Advisory Inc. increased its holdings in shares of Dominion Energy by 175.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 300 shares during the period. BankPlus Trust Department acquired a new stake in Dominion Energy during the 4th quarter worth $26,000. Roble Belko & Company Inc purchased a new position in shares of Dominion Energy during the fourth quarter worth about $27,000. Finally, Fairway Wealth LLC purchased a new stake in Dominion Energy during the 4th quarter valued at approximately $27,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Company Profile

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.