Investors Buy Dominion Energy (D) on Weakness After Analyst Downgrade

Traders purchased shares of Dominion Energy (NYSE:D) on weakness during trading hours on Wednesday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. $88.61 million flowed into the stock on the tick-up and $49.22 million flowed out of the stock on the tick-down, for a money net flow of $39.39 million into the stock. Of all stocks tracked, Dominion Energy had the 13th highest net in-flow for the day. Dominion Energy traded down ($0.62) for the day and closed at $64.88

Other research analysts have also recently issued reports about the company. Bank of America dropped their target price on Dominion Energy from $80.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. UBS started coverage on Dominion Energy in a research report on Friday, February 2nd. They issued a “buy” rating and a $85.00 target price on the stock. Hilliard Lyons raised Dominion Energy from a “neutral” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Tuesday, January 30th. Morgan Stanley raised their target price on Dominion Energy from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, JPMorgan Chase dropped their target price on Dominion Energy from $68.00 to $67.00 and set a “hold” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $77.58.

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In related news, Director John W. Harris sold 2,665 shares of Dominion Energy stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $80.60, for a total transaction of $214,799.00. Following the sale, the director now owns 13,282 shares of the company’s stock, valued at approximately $1,070,529.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Harris sold 11,254 shares of Dominion Energy stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $79.94, for a total value of $899,644.76. Following the sale, the director now directly owns 13,282 shares in the company, valued at approximately $1,061,763.08. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of D. Dimensional Fund Advisors LP raised its stake in Dominion Energy by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,108,658 shares of the utilities provider’s stock valued at $85,290,000 after purchasing an additional 8,940 shares during the period. Allianz Asset Management GmbH raised its stake in Dominion Energy by 2.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 113,062 shares of the utilities provider’s stock valued at $8,698,000 after purchasing an additional 3,130 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Dominion Energy by 2.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 128,239 shares of the utilities provider’s stock valued at $9,864,000 after purchasing an additional 2,817 shares during the period. Vident Investment Advisory LLC bought a new stake in Dominion Energy during the 3rd quarter valued at approximately $742,000. Finally, Janus Henderson Group PLC increased its stake in Dominion Energy by 29.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,164,104 shares of the utilities provider’s stock worth $166,481,000 after acquiring an additional 491,667 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors.

The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $43,241.69, a PE ratio of 18.02, a P/E/G ratio of 2.42 and a beta of 0.27.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Monday, January 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. Dominion Energy had a return on equity of 12.67% and a net margin of 24.92%. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. equities analysts predict that Dominion Energy will post 4.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Friday, March 2nd were paid a $0.835 dividend. This is an increase from Dominion Energy’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $3.34 dividend on an annualized basis and a yield of 5.15%. Dominion Energy’s payout ratio is presently 92.78%.

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Dominion Energy Company Profile

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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