Dominion Energy (NYSE:D) Hits New 12-Month High on Analyst Upgrade

Key Points

• Dominion Energy hit a new 52-week high after Wells Fargo raised its price target to $68 from $66 and reiterated an overweight rating. The stock traded as high as $68.97, well above its previous close of $61.73.
• Other analysts have also been adjusting their views, with recent targets ranging from $66 to $70 and the consensus rating remaining Hold. MarketBeat’s consensus price target now stands at $66.31.
• The company recently beat quarterly earnings expectations, posting $0.95 EPS on revenue of $5.02 billion, and it also declared a quarterly dividend of $0.6675 per share, implying a 3.9% yield.

Shares of Dominion Energy Inc. (NYSE:D - Get Free Report) reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $66.00 to $68.00. Wells Fargo & Company currently has an overweight rating on the stock. Dominion Energy traded as high as $68.97 and last traded at $68.7450, with a volume of 5770324 shares trading hands. The stock had previously closed at $61.73.

A number of other analysts have also issued reports on the company. Mizuho raised their target price on Dominion Energy from $62.00 to $66.00 and gave the company a "neutral" rating in a report on Tuesday, February 24th. Truist Financial started coverage on shares of Dominion Energy in a research note on Tuesday, April 21st. They issued a "hold" rating and a $67.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Dominion Energy in a research report on Friday, May 8th. Morgan Stanley reduced their price target on shares of Dominion Energy from $69.00 to $68.00 and set an "equal weight" rating for the company in a report on Tuesday, April 21st. Finally, Barclays boosted their price objective on shares of Dominion Energy from $66.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Dominion Energy currently has a consensus rating of "Hold" and a consensus price target of $66.31.

More Dominion Energy News

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: NextEra agreed to acquire Dominion Energy in a roughly $66.8 billion all-stock deal, implying about $76 per share and creating a major premium for Dominion shareholders. Reuters article
• Positive Sentiment: The combination is being pitched as a strategic play on AI data-center power demand, especially in Northern Virginia, where Dominion has a major presence. CNBC article
• Positive Sentiment: The companies say the merged utility would be the world’s largest regulated electric utility by market value, with expected scale benefits, bill credits for customers, and long-term earnings growth. PR Newswire release
• Neutral Sentiment: Reports in the prior day had already indicated NextEra was nearing a record-sized deal for Dominion, fueling speculation before the official announcement. WSJ article

Institutional Trading of Dominion Energy

A number of large investors have recently bought and sold shares of the business. Motiv8 Investments LLC acquired a new position in shares of Dominion Energy in the fourth quarter valued at approximately $25,000. Triumph Capital Management acquired a new stake in shares of Dominion Energy during the third quarter worth $28,000. Blueline Advisors LLC bought a new stake in Dominion Energy in the 4th quarter valued at $28,000. United Community Bank acquired a new position in Dominion Energy in the 3rd quarter worth $29,000. Finally, Costello Asset Management INC increased its holdings in Dominion Energy by 66.7% during the 4th quarter. Costello Asset Management INC now owns 500 shares of the utilities provider's stock worth $29,000 after purchasing an additional 200 shares in the last quarter. 73.04% of the stock is owned by institutional investors.

Dominion Energy Price Performance

The stock has a market cap of $60.35 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 3.25 and a beta of 0.65. The company has a 50 day simple moving average of $62.34 and a 200-day simple moving average of $61.35. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.43 billion. Dominion Energy had a return on equity of 9.63% and a net margin of 16.93%.Dominion Energy's quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. Dominion Energy has set its FY 2026 guidance at 3.450-3.690 EPS. Research analysts expect that Dominion Energy Inc. will post 3.59 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 20th. Stockholders of record on Friday, May 29th will be given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, May 29th. Dominion Energy's payout ratio is currently 78.99%.

Dominion Energy Company Profile

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company's core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion's electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.

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