Dominion Energy (NYSE:D) Stock Price Down 2.3% Following Analyst Downgrade

Dominion Energy, Inc. (NYSE:D - Get Free Report) shares were down 2.3% during trading on Tuesday after Barclays lowered their price target on the stock from $50.00 to $49.00. Barclays currently has an overweight rating on the stock. Dominion Energy traded as low as $46.75 and last traded at $46.83. Approximately 582,133 shares traded hands during trading, a decline of 89% from the average daily volume of 5,453,756 shares. The stock had previously closed at $47.92.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company boosted their price target on Dominion Energy from $49.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 7th. StockNews.com downgraded shares of Dominion Energy from a "hold" rating to a "sell" rating in a report on Friday, February 23rd. BMO Capital Markets lowered shares of Dominion Energy from an "outperform" rating to a "market perform" rating and set a $49.00 target price for the company. in a research report on Monday, March 11th. Guggenheim decreased their target price on Dominion Energy from $57.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, March 4th. Finally, Mizuho cut their price target on Dominion Energy from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $50.10.

Insider Activity

In related news, CEO Robert M. Blue acquired 21,735 shares of the stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Joseph M. Rigby purchased 2,130 shares of Dominion Energy stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now directly owns 8,417 shares in the company, valued at $395,093.98. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert M. Blue bought 21,735 shares of the business's stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $45.91 per share, with a total value of $997,853.85. Following the purchase, the chief executive officer now directly owns 176,240 shares of the company's stock, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company's stock.

Institutional Investors Weigh In On Dominion Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Diamond Hill Capital Management Inc. grew its stake in shares of Dominion Energy by 5.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider's stock valued at $178,176,000 after purchasing an additional 199,629 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Dominion Energy by 196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider's stock valued at $18,451,000 after buying an additional 259,978 shares during the period. CWM LLC raised its position in shares of Dominion Energy by 18.7% during the third quarter. CWM LLC now owns 553,557 shares of the utilities provider's stock worth $24,727,000 after acquiring an additional 87,280 shares during the last quarter. Morgan Stanley lifted its stake in shares of Dominion Energy by 12.8% during the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider's stock valued at $316,395,000 after acquiring an additional 803,341 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Dominion Energy by 97.3% during the fourth quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider's stock valued at $674,000 after acquiring an additional 7,071 shares during the period. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

The firm has a market cap of $39.24 billion, a P/E ratio of 20.11, a PEG ratio of 1.92 and a beta of 0.61. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average of $47.34 and a 200-day moving average of $45.97.

Dominion Energy (NYSE:D - Get Free Report) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. Research analysts predict that Dominion Energy, Inc. will post 2.86 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were given a $0.6675 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a dividend yield of 5.70%. Dominion Energy's dividend payout ratio is currently 114.59%.

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.