Barclays slashes price target on Dominion Energy Inc [D] – find out why.

Dominion Energy Inc [NYSE: D] price surged by 4.96 percent to reach at $2.26. The company report on February 22, 2024 at 7:30 AM that Stonepeak to Acquire 50% Interest in Dominion Energy’s Coastal Virginia Offshore Wind Project.

Project expected to be the largest offshore wind farm in the U.S. and one of the largest offshore wind farms globally upon completion.

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Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has reached an agreement with Dominion Energy (NYSE: D) to acquire a 50% interest in its Coastal Virginia Offshore Wind project (“CVOW” or “the Project”) through the formation of an offshore wind partnership. The Project is expected to be the largest offshore wind farm in the U.S. and one of the largest offshore wind farms globally upon completion.

The one-year D stock forecast points to a potential upside of 2.33. The average equity rating for D stock is currently 2.65, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Dominion Energy Inc [D]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for D shares is $49.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on D stock is a recommendation set at 2.65. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Dominion Energy Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 06, 2023. While these analysts kept the previous recommendation, Scotiabank dropped their target price from $56 to $46. The new note on the price target was released on October 16, 2023, representing the official price target for Dominion Energy Inc stock. Previously, the target price had yet another raise to $52, while Barclays analysts kept a Equal Weight rating on D stock.

The Average True Range (ATR) for Dominion Energy Inc is set at 1.18, with the Price to Sales ratio for D stock in the period of the last 12 months amounting to 2.49. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 0.32.

D Stock Performance Analysis:

Dominion Energy Inc [D] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.21. With this latest performance, D shares gained by 8.40% in over the last four-week period, additionally plugging by 0.13% over the last 6 months – not to mention a drop of -17.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for D stock in for the last two-week period is set at 61.63, with the RSI for the last a single of trading hit 67.17, and the three-weeks RSI is set at 58.17 for Dominion Energy Inc [D]. The present Moving Average for the last 50 days of trading for this stock 46.50, while it was recorded at 46.19 for the last single week of trading, and 47.93 for the last 200 days.

Insight into Dominion Energy Inc Fundamentals:

Dominion Energy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 1.04.

D Stock EPS

With the latest financial reports released by the company, Dominion Energy Inc posted 0.99/share EPS, while the average EPS was predicted by analysts to be reported at 0.97/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for D. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Dominion Energy Inc go to -5.12%.

Dominion Energy Inc [D] Institutonal Ownership Details

The top three institutional holders of D stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in D stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in D stock with ownership which is approximately 5.8325%.