Morgan Stanley Cuts Dominion Energy (NYSE:D) Price Target to $63.00

Key Points

• Morgan Stanley has reduced its price target for Dominion Energy from $64.00 to $63.00, maintaining an "equal weight" rating on the stock, which suggests a potential upside of 5.38% from its current price.
• JPMorgan Chase raised its price target for the company from $56.00 to $59.00, but issued an "underweight" rating, indicating a cautious outlook among analysts.
• Dominion Energy reported a quarterly EPS of $0.75, missing consensus estimates, while experiencing a 9.3% year-over-year revenue growth, underscoring mixed financial performance.

Dominion Energy (NYSE:D - Get Free Report) had its price target reduced by Morgan Stanley from $64.00 to $63.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price objective would indicate a potential upside of 5.38% from the company's current price.

Separately, JPMorgan Chase & Co. upped their price target on Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.33.

Dominion Energy Stock Performance

Shares of NYSE:D traded down $1.24 during trading on Thursday, reaching $59.79. The stock had a trading volume of 1,489,067 shares, compared to its average volume of 5,265,904. Dominion Energy has a 52 week low of $48.07 and a 52 week high of $62.46. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock has a fifty day simple moving average of $59.90 and a two-hundred day simple moving average of $56.67. The firm has a market capitalization of $51.02 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.33 and a beta of 0.60.

Dominion Energy (NYSE:D - Get Free Report) last issued its earnings results on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. As a group, analysts anticipate that Dominion Energy will post 3.39 earnings per share for the current fiscal year.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue acquired 4,152 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were acquired at an average price of $60.35 per share, with a total value of $250,573.20. Following the acquisition, the chief executive officer owned 161,237 shares of the company's stock, valued at approximately $9,730,652.95. This trade represents a 2.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dominion Energy

Several institutional investors have recently modified their holdings of D. Caldwell Trust Co purchased a new stake in shares of Dominion Energy during the second quarter valued at approximately $651,000. Canal Capital Management LLC lifted its holdings in Dominion Energy by 4.8% in the 2nd quarter. Canal Capital Management LLC now owns 119,736 shares of the utilities provider's stock worth $6,767,000 after buying an additional 5,505 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Dominion Energy by 45.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 22,575 shares of the utilities provider's stock valued at $1,276,000 after purchasing an additional 7,103 shares during the period. SevenBridge Financial Group LLC purchased a new position in shares of Dominion Energy in the 2nd quarter valued at approximately $232,000. Finally, Osaic Holdings Inc. raised its stake in Dominion Energy by 24.9% during the second quarter. Osaic Holdings Inc. now owns 272,081 shares of the utilities provider's stock valued at $15,362,000 after buying an additional 54,158 shares during the last quarter. 73.04% of the stock is currently owned by 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.

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