Morgan Stanley Raises Dominion Energy (D) Price Target to $87.00

Dominion Energy (NYSE:D) had its target price boosted by Morgan Stanley from $85.00 to $87.00 in a research report released on Wednesday morning. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Several other brokerages also recently commented on D. Bank of America upgraded Dominion Energy from a neutral rating to a buy rating in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded Dominion Energy from a hold rating to a buy rating and set a $86.00 target price for the company in a research note on Tuesday, October 3rd. KeyCorp restated a hold rating on shares of Dominion Energy in a research note on Friday, October 20th. Royal Bank of Canada restated a hold rating and issued a $77.00 target price on shares of Dominion Energy in a research note on Monday, August 21st. Finally, Gabelli restated a hold rating on shares of Dominion Energy in a research note on Wednesday, November 1st. Thirteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $81.50.

Dominion Energy (D) opened at $84.91 on Wednesday. Dominion Energy has a 12-month low of $70.87 and a 12-month high of $85.26. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.47 and a quick ratio of 0.29. The firm has a market capitalization of $54,642.14, a PE ratio of 23.14, a PEG ratio of 4.18 and a beta of 0.29.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.02. Dominion Energy had a return on equity of 13.32% and a net margin of 17.21%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the company posted $1.14 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. research analysts predict that Dominion Energy will post 3.6 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.63%. This is an increase from Dominion Energy’s previous quarterly dividend of $0.76. Dominion Energy’s payout ratio is 90.86%.

In other Dominion Energy news, Director John W. Harris sold 5,616 shares of Dominion Energy stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $80.71, for a total transaction of $453,267.36. Following the completion of the transaction, the director now owns 18,920 shares in the company, valued at approximately $1,527,033.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Dominion Energy by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 44,796,520 shares of the utilities provider’s stock valued at $3,432,756,000 after purchasing an additional 1,194,152 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Dominion Energy by 5.4% during the 2nd quarter. Federated Investors Inc. PA now owns 8,967,983 shares of the utilities provider’s stock valued at $687,216,000 after purchasing an additional 461,484 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Dominion Energy by 4.0% during the 3rd quarter. Wells Fargo & Company MN now owns 6,355,070 shares of the utilities provider’s stock valued at $488,896,000 after purchasing an additional 244,870 shares during the last quarter. Legal & General Group Plc boosted its stake in Dominion Energy by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 4,475,084 shares of the utilities provider’s stock valued at $344,260,000 after purchasing an additional 253,699 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Dominion Energy by 0.9% during the 3rd quarter. Commonwealth Bank of Australia now owns 4,247,763 shares of the utilities provider’s stock valued at $325,607,000 after purchasing an additional 36,643 shares during the last quarter. Institutional investors and hedge funds own 64.67% of the company’s stock.

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Dominion Energy Company Profile

Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.

Analyst Recommendations for Dominion Energy (NYSE:D)

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