Macquarie Lowers Dominion Energy (D) to Neutral

Dominion Energy (NYSE:D) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports. The analysts noted that the move was a valuation call.

Several other brokerages have also recently weighed in on D. Zacks Investment Research cut shares of Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 8th. Mizuho started coverage on shares of Dominion Energy in a research report on Monday, March 11th. They issued a “neutral” rating and a $76.00 price target for the company. ValuEngine cut shares of Dominion Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. UBS Group raised shares of Dominion Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $75.00 to $84.00 in a research report on Thursday, November 29th. Finally, Wells Fargo & Co upped their price target on shares of Dominion Energy from $73.00 to $80.00 and gave the stock a “market perform” rating in a research report on Monday, December 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Dominion Energy has a consensus rating of “Hold” and a consensus price target of $84.31.

Shares of D opened at $75.19 on Monday. Dominion Energy has a fifty-two week low of $61.53 and a fifty-two week high of $77.22. The company has a market capitalization of $61.24 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 3.37 and a beta of 0.22. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.67 and a quick ratio of 0.49.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, February 1st. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Dominion Energy had a return on equity of 12.85% and a net margin of 18.31%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company posted $0.91 EPS. Dominion Energy’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Dominion Energy will post 4.2 EPS for the current year.

In related news, Director Robert H. Spilman, Jr. sold 1,215 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.01, for a total transaction of $92,352.15. Following the completion of the sale, the director now owns 23,598 shares of the company’s stock, valued at $1,793,683.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director D Maybank Hagood bought 1,965 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of $76.34 per share, with a total value of $150,008.10. Following the transaction, the director now directly owns 2,975 shares of the company’s stock, valued at $227,111.50. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its stake in Dominion Energy by 6.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 123,068 shares of the utilities provider’s stock valued at $8,650,000 after purchasing an additional 7,212 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Dominion Energy by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 605,578 shares of the utilities provider’s stock valued at $42,560,000 after purchasing an additional 11,178 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in Dominion Energy by 20.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 58,659 shares of the utilities provider’s stock valued at $4,122,000 after purchasing an additional 9,937 shares in the last quarter. Jennison Associates LLC acquired a new position in Dominion Energy during the 3rd quarter valued at approximately $30,691,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Dominion Energy by 374.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,649 shares of the utilities provider’s stock valued at $3,770,000 after purchasing an additional 42,339 shares in the last quarter. 58.26% of the stock is owned by institutional investors.

Dominion Energy Company Profile

Dominion Energy, Inc produces and transports energy. 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.

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Analyst Recommendations for Dominion Energy (NYSE:D)

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