Brokers Offer Predictions for Dominion Energy, Inc.’s Q3 2023 Earnings (NYSE:D)

Posted by Defense World Staff on Sep 8th, 2023

Dominion Energy, Inc. (NYSE:D – Free Report) – Stock analysts at KeyCorp decreased their Q3 2023 earnings per share (EPS) estimates for shares of Dominion Energy in a note issued to investors on Tuesday, September 5th. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $0.81 per share for the quarter, down from their previous forecast of $1.08. The consensus estimate for Dominion Energy’s current full-year earnings is $3.51 per share. KeyCorp also issued estimates for Dominion Energy’s FY2023 earnings at $3.26 EPS.

A number of other analysts have also recently weighed in on the company. 51job restated a “maintains” rating on shares of Dominion Energy in a research note on Friday, June 9th. BMO Capital Markets cut their price objective on shares of Dominion Energy from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Guggenheim cut their target price on Dominion Energy from $63.00 to $60.00 in a research report on Friday, July 7th. Finally, The Goldman Sachs Group initiated coverage on Dominion Energy in a research note on Wednesday, June 7th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.09.

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Dominion Energy Stock Performance

NYSE:D opened at $46.03 on Thursday. The company has a fifty day simple moving average of $50.51 and a two-hundred day simple moving average of $53.24. The company has a quick ratio of 0.44, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The company has a market cap of $38.52 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.67 and a beta of 0.46. Dominion Energy has a 52 week low of $45.79 and a 52 week high of $84.45.

Dominion Energy (NYSE:D – Get Free Report) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. Dominion Energy had a return on equity of 11.94% and a net margin of 12.71%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis.

Hedge Funds Weigh In On Dominion Energy

Institutional investors have recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV raised its holdings in Dominion Energy by 1.2% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,630 shares of the utilities provider’s stock valued at $903,000 after acquiring an additional 128 shares in the last quarter. Golden State Equity Partners raised its stake in shares of Dominion Energy by 1.7% in the first quarter. Golden State Equity Partners now owns 7,635 shares of the utilities provider’s stock valued at $649,000 after purchasing an additional 129 shares in the last quarter. Covestor Ltd lifted its position in Dominion Energy by 49.8% in the first quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 131 shares during the period. NewEdge Advisors LLC increased its holdings in Dominion Energy by 0.3% in the 1st quarter. NewEdge Advisors LLC now owns 40,479 shares of the utilities provider’s stock valued at $3,440,000 after buying an additional 132 shares during the period. Finally, Ergoteles LLC raised its stake in shares of Dominion Energy by 3.2% in the 1st quarter. Ergoteles LLC now owns 4,719 shares of the utilities provider’s stock valued at $401,000 after buying an additional 146 shares in the last quarter. 70.66% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, September 1st will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 5.80%. The ex-dividend date is Thursday, August 31st. Dominion Energy’s dividend payout ratio (DPR) is presently 98.89%.

About Dominion Energy

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Dominion Energy, Inc produces and distributes energy in the United States. It operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.