Dominion Energy D Experiences Stock Rating Upgrade Amid Financial Analyst Review

On November 12th, 2023, analysts at StockNews.com revised their stance on Dominion Energy D, shifting the utility company's stock rating from a 'sell' to a 'hold'. This change reflects an improved outlook on the energy provider's financial performance and market position.

Analyst Perspectives on Dominion Energy

Despite this recent upgrade, other financial analysts from various firms have shared mixed insights on Dominion Energy D in recent times. Notably, Royal Bank of Canada cut their price target from $71.00 to $53.00, maintaining a 'sector perform' rating. Similarly, Scotiabank downgraded its rating from 'sector outperform' to 'sector perform' with a reduced price target, lowering it from $56.00 to $46.00.

JPMorgan Chase & Co. followed a cautiously optimistic view, adjusting their target price down to $49.00 with a 'neutral' rating. Guggenheim analysts also reduced their price target to $49.00, while Wells Fargo & Co. set their target at $46.00 and upheld an 'equal weight' rating on the stock. Overall, Dominion Energy currently holds a consensus rating of 'Hold' among the ten research analysts, with an average price target sitting around $51.62.

Financial Performance and Market Presence

Opening at $44.96, the stock of Dominion Energy D, which boasts a market capitalization of $37.62 billion, shows a price-to-earnings ratio of 22.94 and a forward-looking P/E/G ratio of 3.83. It also exhibits a beta of 0.52. Financially, the company has managed a quick ratio of 0.44, a current ratio of 1.14, and a debt-to-equity ratio of 1.26.

In its most recent earnings report, the company revealed a shortfall, with an EPS of $0.77, slightly missing the consensus estimate of $0.78 by $0.01. Nonetheless, Dominion Energy has continued to demonstrate a steady return on equity of 10.94% and a net margin of 9.66%, even though its reported revenue of $3.81 billion fell short of analyst expectations by a margin. Compared to the previous year, there was a decline in revenue by 3.9%. Looking forward, estimates suggest the company will post an EPS of 2.93 for the current fiscal year.

Institutional Interest and Company Profile

Large investors have been adjusting their holdings in Dominion Energy D. Notably, AGF Management Ltd. increased its stake by 6.7%, bringing its total share count to 60,959, valued at approximately $3,408,000. Trust Co. of Toledo NA OH raised its ownership by 13.8%, and now has 37,991 shares worth almost $1,968,000. In similar maneuvers, MAI Capital Management, Fifth Third Bancorp FITB, and Catalyst Financial Partners LLC have also adjusted their investment in Dominion Energy, reflective of ongoing confidence or strategic shifts in the investor community.

Dominion Energy D is a prominent power and energy company based in Richmond, Virginia, delivering electricity to parts of Virginia, North Carolina, and South Carolina, and providing natural gas to several states. Its operations span various segments, including Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets, generating and distributing energy to both consumer and business markets.

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