Dominion Energy (NYSE:D) Shares Down 2.2%

Dominion Energy, Inc. (NYSE:D - Get Free Report) shares traded down 2.2% on Wednesday . The company traded as low as $46.62 and last traded at $46.86. 3,467,500 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 4,664,948 shares. The stock had previously closed at $47.92.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Dominion Energy from $49.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 7th. Scotiabank decreased their price target on shares of Dominion Energy from $50.00 to $49.00 and set a "sector perform" rating on the stock in a research note on Monday, March 4th. Guggenheim cut their price objective on shares of Dominion Energy from $57.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Barclays lowered their target price on Dominion Energy from $50.00 to $49.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, BMO Capital Markets downgraded Dominion Energy from an "outperform" rating to a "market perform" rating and set a $49.00 price target for the company. in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $50.10.

Dominion Energy Price Performance

The stock has a market capitalization of $40.48 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04. The company has a fifty day simple moving average of $47.41 and a two-hundred day simple moving average of $45.99.

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

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.67 annualized dividend and a yield of 5.52%. Dominion Energy's dividend payout ratio is currently 114.59%.

Insider Buying and Selling at Dominion Energy

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

Institutional Investors Weigh In On Dominion Energy

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

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.