Energy Stocks Rise as NYSE Energy Sector Index Increases by 0.6%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Yahoo Finance
- Market Recovery: Energy stocks saw a broad increase on Friday afternoon, with the NYSE Energy Sector Index rising by 0.6%, reflecting optimistic expectations for a recovery in energy demand, which could drive stock prices higher for related companies.
- Investor Confidence Boost: As energy prices stabilize and demand gradually rebounds, investor confidence in the energy sector has strengthened, potentially attracting more capital into the field and further driving stock price increases.
- Positive Industry Outlook: Analysts indicate that with the global economic recovery, energy demand is expected to continue growing, which will likely lead to higher revenues and profits for energy companies, enhancing their market competitiveness.
- Technical Support: The rise in energy stocks is also supported by improved technical indicators, prompting investors to reassess the investment value of energy companies at this time, leading to short-term capital inflows.
Analyst Views on D
Wall Street analysts forecast D stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for D is 65.00 USD with a low forecast of 62.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
2 Buy
7 Hold
1 Sell
Hold
Current: 60.340
Low
62.00
Averages
65.00
High
70.00
Current: 60.340
Low
62.00
Averages
65.00
High
70.00
About D
Dominion Energy, Inc. provides regulated electricity service to about 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina. It is a developer and operator of regulated offshore wind and solar power and the producer of carbon-free electricity in New England. Its Dominion Energy Virginia segment is composed of Virginia Power’s regulated electric transmission, distribution, and generation operations, which serve homes and businesses in Virginia and North Carolina. Its Dominion Energy South Carolina segment consists of DESC’s generation, transmission, and distribution of electricity to customers in the central, southern and southwestern portions of South Carolina and the distribution of natural gas to residential, commercial and industrial customers in South Carolina. Its Contracted Energy segment includes non-regulated electric generation fleet and renewable natural gas operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
