Dominion Energy (NYSE:D) Price Target Lowered to $60.00 at Morgan Stanley

Dominion Energy (NYSE:D - Get Free Report) had its price objective cut by equities researchers at Morgan Stanley from $62.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price target would suggest a potential upside of 10.75% from the company's current price.

Several other equities research analysts have also commented on the stock. UBS Group boosted their price target on shares of Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Argus raised Dominion Energy to a "hold" rating in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $58.38.

Dominion Energy Price Performance

Shares of D stock traded up $0.41 during trading hours on Wednesday, hitting $54.18. The stock had a trading volume of 3,552,602 shares, compared to its average volume of 4,598,726. The stock has a market capitalization of $46.20 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.19 and a beta of 0.56. The stock's 50-day moving average price is $54.83 and its two-hundred day moving average price is $54.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53. Dominion Energy has a one year low of $47.99 and a one year high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $4.08 billion for the quarter, compared to analysts' expectations of $3.95 billion. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. Equities analysts forecast that Dominion Energy will post 3.39 EPS for the current year.

Institutional Trading of Dominion Energy

A number of hedge funds and other institutional investors have recently modified their holdings of D. Principal Securities Inc. increased its position in shares of Dominion Energy by 3.9% during the fourth quarter. Principal Securities Inc. now owns 15,799 shares of the utilities provider's stock valued at $851,000 after acquiring an additional 590 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Dominion Energy by 114.8% during the first quarter. Farther Finance Advisors LLC now owns 12,089 shares of the utilities provider's stock worth $680,000 after purchasing an additional 6,462 shares in the last quarter. Allworth Financial LP boosted its position in shares of Dominion Energy by 11.7% during the fourth quarter. Allworth Financial LP now owns 21,229 shares of the utilities provider's stock worth $1,124,000 after buying an additional 2,226 shares during the period. Franklin Resources Inc. grew its stake in shares of Dominion Energy by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 8,944,086 shares of the utilities provider's stock valued at $481,728,000 after buying an additional 225,339 shares in the last quarter. Finally, Oak Grove Capital LLC purchased a new stake in shares of Dominion Energy in the 4th quarter valued at $11,378,000. 73.04% of the stock is owned by institutional investors and hedge funds.

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.

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