Dominion Energy (NYSE:D) Reaches New 1-Year High - What's Next?

Key Points

• Dominion Energy's shares reached a new 52-week high of $61.98, indicating strong trading activity with over 2.4 million shares exchanged during the session.
• Despite the high stock performance, analysts have mixed sentiments, with an average rating of "Hold" and a price target of $59.14, suggesting cautious optimism about future growth.
• The company announced a quarterly dividend of $0.6675, yielding 4.3%, with a high payout ratio of 92.07%, reflecting its commitment to returning value to shareholders.

Shares of Dominion Energy Inc. (NYSE:D - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $61.98 and last traded at $61.79, with a volume of 2486594 shares traded. The stock had previously closed at $60.97.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. Morgan Stanley reduced their price target on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $59.14.

Dominion Energy Trading Up 1.2%

The firm's 50 day moving average is $56.98 and its 200 day moving average is $55.51. The company has a market cap of $52.64 billion, a PE ratio of 21.27, a PEG ratio of 1.33 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.53.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. On average, equities analysts anticipate that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 annualized dividend and a yield of 4.3%. Dominion Energy's dividend payout ratio is currently 92.07%.

Institutional Trading of Dominion Energy

Several hedge funds and other institutional investors have recently bought and sold shares of D. SPC Financial Inc. grew its holdings in shares of Dominion Energy by 1.4% in the second quarter. SPC Financial Inc. now owns 12,179 shares of the utilities provider's stock worth $688,000 after purchasing an additional 172 shares during the last quarter. Maridea Wealth Management LLC grew its holdings in shares of Dominion Energy by 2.1% in the second quarter. Maridea Wealth Management LLC now owns 8,940 shares of the utilities provider's stock worth $505,000 after purchasing an additional 183 shares during the last quarter. Quotient Wealth Partners LLC grew its holdings in shares of Dominion Energy by 2.4% in the second quarter. Quotient Wealth Partners LLC now owns 7,795 shares of the utilities provider's stock worth $441,000 after purchasing an additional 184 shares during the last quarter. Private Client Services LLC grew its holdings in shares of Dominion Energy by 3.1% in the second quarter. Private Client Services LLC now owns 6,234 shares of the utilities provider's stock worth $352,000 after purchasing an additional 188 shares during the last quarter. Finally, Cadence Bank grew its holdings in shares of Dominion Energy by 2.0% in the fourth quarter. Cadence Bank now owns 9,561 shares of the utilities provider's stock worth $515,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

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.

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