Seaport Res Ptn Comments on Dominion Energy FY2024 Earnings

Dominion Energy, Inc. (NYSE:D - Free Report) - Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Dominion Energy in a report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $2.76 per share for the year, up from their prior forecast of $2.75. The consensus estimate for Dominion Energy's current full-year earnings is $2.75 per share. Seaport Res Ptn also issued estimates for Dominion Energy's FY2026 earnings at $3.63 EPS.

A number of other research firms have also commented on D. Morgan Stanley started coverage on shares of Dominion Energy in a report on Monday, December 2nd. They set an "equal weight" rating and a $61.00 price target for the company. Barclays upped their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reissued a "neutral" rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Scotiabank upped their price target on Dominion Energy from $58.00 to $61.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group began coverage on Dominion Energy in a report on Friday, September 20th. They issued a "hold" rating and a $58.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.58.

Dominion Energy Trading Up 0.6 %

NYSE D traded up $0.31 during trading on Tuesday, hitting $53.97. 3,864,778 shares of the company's stock traded hands, compared to its average volume of 3,665,894. The stock has a fifty day moving average of $56.20 and a two-hundred day moving average of $55.49. Dominion Energy has a 12-month low of $43.53 and a 12-month high of $61.97. The firm has a market cap of $45.34 billion, a P/E ratio of 18.94, a PEG ratio of 1.44 and a beta of 0.60. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS.

Institutional Investors Weigh In On Dominion Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. boosted its holdings in shares of Dominion Energy by 22.8% in the third quarter. Oppenheimer & Co. Inc. now owns 69,343 shares of the utilities provider's stock worth $4,007,000 after buying an additional 12,890 shares during the last quarter. Caprock Group LLC grew its position in shares of Dominion Energy by 133.0% during the 2nd quarter. Caprock Group LLC now owns 9,679 shares of the utilities provider's stock valued at $474,000 after acquiring an additional 5,525 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Dominion Energy by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,164,929 shares of the utilities provider's stock worth $298,481,000 after purchasing an additional 43,055 shares in the last quarter. Ascent Wealth Partners LLC bought a new position in Dominion Energy in the 3rd quarter worth $1,223,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Dominion Energy by 63.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider's stock valued at $487,567,000 after purchasing an additional 3,278,175 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were paid a $0.6675 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.95%. Dominion Energy's dividend payout ratio is presently 93.68%.

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.