Zacks Investment Research Downgrades Dominion Energy (D) to Hold

Dominion Energy (NYSE:D) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “In last six months, shares of Dominion Energy have outperformed its industry's rally.  Dominion Energy’s Cove Point Liquefaction project have started operation and is contributing as per expectation. Dominion Energy is benefiting from its regulated growth projects and synergies from Questar’s acquisition. The company’s expansion of electric transmission, natural gas facilities and midstream assets are strong positives. Its merger deal with SCANA received FERC Nod and is going to be immediately accretive to earnings of the company.  However, any delay in ongoing capital projects could adversely impact profitability of the company. Reduction in solar investment tax credits and share dilution may affect its future results. The company and its gas unit’s dependency upon third-party producers for natural gas supply increases risk.”

D has been the subject of several other reports. Scotiabank initiated coverage on Dominion Energy in a report on Tuesday, July 24th. They issued a “hold” rating and a $167.00 price target for the company. Macquarie set a $74.00 price objective on Dominion Energy and gave the stock a “buy” rating in a report on Tuesday, September 25th. Guggenheim reiterated a “buy” rating and set a $77.00 price objective on shares of Dominion Energy in a report on Monday, July 23rd. ValuEngine upgraded Dominion Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, Argus increased their price objective on Dominion Energy from $74.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $84.42.

NYSE D opened at $71.37 on Thursday. The stock has a market capitalization of $45.95 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.82 and a beta of 0.23. The company has a quick ratio of 0.36, a current ratio of 0.52 and a debt-to-equity ratio of 1.60. Dominion Energy has a 12 month low of $61.53 and a 12 month high of $85.30.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.04 billion. Dominion Energy had a return on equity of 13.13% and a net margin of 23.69%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. On average, equities research analysts predict that Dominion Energy will post 4.13 EPS for the current year.

In other Dominion Energy news, Director John W. Harris acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was bought at an average cost of $71.15 per share, with a total value of $711,500.00. Following the completion of the transaction, the director now directly owns 17,495 shares in the company, valued at approximately $1,244,769.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in Dominion Energy by 0.3% during the 2nd quarter. Victory Capital Management Inc. now owns 261,842 shares of the utilities provider’s stock worth $17,852,000 after purchasing an additional 726 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in Dominion Energy by 0.4% during the 2nd quarter. Gulf International Bank UK Ltd now owns 207,769 shares of the utilities provider’s stock worth $14,165,000 after purchasing an additional 737 shares during the last quarter. Cahill Financial Advisors Inc. lifted its holdings in Dominion Energy by 17.8% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 5,035 shares of the utilities provider’s stock worth $344,000 after purchasing an additional 760 shares during the last quarter. Signature Financial Management Inc. lifted its holdings in Dominion Energy by 8.3% during the 2nd quarter. Signature Financial Management Inc. now owns 10,072 shares of the utilities provider’s stock worth $687,000 after purchasing an additional 771 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its holdings in Dominion Energy by 2.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 32,779 shares of the utilities provider’s stock worth $2,234,000 after purchasing an additional 790 shares during the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

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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