Dominion Energy (D) Price Target Lowered to $77.00 at JPMorgan Chase & Co.

Dominion Energy (NYSE:D) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $78.00 to $77.00 in a research note issued on Friday. The firm presently has a “buy” rating on the utilities provider’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 10.17% from the company’s current price.

D has been the topic of several other research reports. Zacks Investment Research downgraded Dominion Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Bank of America cut their price target on Dominion Energy from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Friday. Howard Weil started coverage on Dominion Energy in a research note on Tuesday, July 24th. They issued a “sector perform” rating on the stock. Guggenheim restated a “buy” rating and issued a $77.00 price target on shares of Dominion Energy in a research note on Monday, July 23rd. Finally, Argus increased their target price on Dominion Energy from $74.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $84.50.

NYSE D opened at $69.89 on Friday. Dominion Energy has a 1-year low of $61.53 and a 1-year high of $85.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.52 and a quick ratio of 0.36. The stock has a market capitalization of $46.69 billion, a PE ratio of 18.08, a P/E/G ratio of 2.76 and a beta of 0.18.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, November 1st. The utilities provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.41 billion. Dominion Energy had a return on equity of 13.13% and a net margin of 23.69%. Dominion Energy’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 EPS. Equities research analysts forecast that Dominion Energy will post 4.03 earnings per share for the current year.

In other news, Director John W. Harris purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were purchased at an average cost of $71.15 per share, for a total transaction of $711,500.00. Following the purchase, the director now directly owns 17,495 shares in the company, valued at approximately $1,244,769.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in D. Commonwealth Bank of Australia boosted its stake in shares of Dominion Energy by 40.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,028,891 shares of the utilities provider’s stock worth $549,725,000 after buying an additional 2,316,005 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Dominion Energy in the 2nd quarter worth $33,441,000. Russell Investments Group Ltd. boosted its stake in shares of Dominion Energy by 24.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,663,146 shares of the utilities provider’s stock worth $113,561,000 after buying an additional 327,798 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Dominion Energy by 113.9% in the 2nd quarter. Van ECK Associates Corp now owns 597,335 shares of the utilities provider’s stock worth $40,726,000 after buying an additional 318,027 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Dominion Energy by 54.5% in the 2nd quarter. United Services Automobile Association now owns 849,523 shares of the utilities provider’s stock worth $57,920,000 after buying an additional 299,614 shares during the last quarter. Hedge funds and other institutional investors own 67.43% of the company’s stock.

About Dominion Energy

Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.

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