Dominion Energy Inc. (NYSE:D) achieved a notable milestone in its stock performance, reaching a new 52-week high on Wednesday, trading at $62.63 before settling at $62.59, with a trading volume of 3,668,482 shares. This marks a significant rise from its previous close of $61.54.
Analysts have expressed optimistic forecasts for Dominion Energy’s stock, indicating potential for growth. Morgan Stanley recently increased its target price for the stock from $63.00 to $66.00, maintaining an “equal weight” rating. Similarly, Evercore ISI initiated coverage with a price target of $67.00 and an “in-line” rating. Barclays also revised their expectations, increasing their target price from $60.00 to $63.00 and assigning an “overweight” rating. General consensus among analysts is cautious, with two recommending a Buy rating, nine advising Hold, and one suggesting a Sell rating.
The company has a market capitalization of $53.45 billion and key financial metrics indicate stability, including a P/E ratio of 21.58 and a PEG ratio of 2.13. Recently, Dominion Energy released its quarterly earnings report, revealing earnings per share (EPS) of $1.06, slightly above the consensus estimate of $1.02, accompanied by a revenue figure of $4.53 billion.
Dominion Energy has also confirmed a quarterly dividend of $0.6675 per share, payable on December 20, reflecting an annualized dividend yield of 4.3%. The company’s payout ratio currently stands at 90.82%, highlighting its commitment to returning value to shareholders.
In recent months, several institutional investors have acted on their positions in the company, indicating renewed interest. Notable transactions include CoreFirst Bank acquiring a stake during the second quarter and Westside Investment Management increasing its holdings significantly.
As a leading energy provider, Dominion Energy serves approximately 2.8 million customers in Virginia and North Carolina through its regulated electricity segment. The positive outlook from analysts, combined with solid earnings results and strategic institutional investments, suggests a resilient performance moving forward for Dominion Energy, positioning it well in the energy sector.