Research Analysts Issue Forecasts for Dominion Energy, Inc.’s Q2 2024 Earnings (NYSE:D)

Dominion Energy, Inc. (NYSE:D) – Analysts at KeyCorp issued their Q2 2024 earnings per share (EPS) estimates for Dominion Energy in a research note issued to investors on Sunday, July 21st. KeyCorp analyst S. Karp expects that the utilities provider will earn $0.55 per share for the quarter. The consensus estimate for Dominion Energy’s current full-year earnings is $2.75 per share. KeyCorp also issued estimates for Dominion Energy’s Q3 2024 earnings at $1.00 EPS, Q4 2024 earnings at $0.67 EPS and FY2028 earnings at $4.05 EPS.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company increased their price target on Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Mizuho lifted their price target on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Barclays lowered their price target on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Evercore ISI upped their target price on Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Finally, Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $43.00 to $54.00 in a research note on Friday, May 10th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.64.

Dominion Energy Price Performance

NYSE:D opened at $52.30 on Wednesday. The firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.36 and a beta of 0.58. Dominion Energy has a 1 year low of $39.18 and a 1 year high of $54.74. The business has a 50 day simple moving average of $51.17 and a 200-day simple moving average of $49.10. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.67 annualized dividend and a dividend yield of 5.11%. Dominion Energy’s dividend payout ratio is currently 137.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of D. Vanguard Group Inc. raised its stake in Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after buying an additional 12,178,713 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Dominion Energy by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after purchasing an additional 2,801,687 shares in the last quarter. Capital Research Global Investors boosted its holdings in Dominion Energy by 20.1% in the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock valued at $1,061,740,000 after purchasing an additional 3,613,614 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Dominion Energy by 13.2% during the 4th quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock worth $869,184,000 after acquiring an additional 2,153,488 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Dominion Energy by 1.0% during the 4th quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock worth $357,769,000 after acquiring an additional 75,600 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Company Profile

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.