Morgan Stanley Issues Positive Forecast for Dominion Energy (NYSE:D) Stock Price

Key Points

• Morgan Stanley raised its price target for Dominion Energy's stock from $63.00 to $66.00, indicating a potential upside of 7.27% from the current price.
• The stock received a mix of ratings from analysts, with one Buy rating, eight Hold ratings, and one Sell rating, giving it an average rating of Hold and a consensus target price of $62.43.
• During recent trading, Dominion Energy's stock increased by 1.1%, reaching $61.53, and it reported a quarterly revenue increase of 9.3% year-over-year.

Dominion Energy (NYSE:D - Get Free Report) had its price objective raised by research analysts at Morgan Stanley from $63.00 to $66.00 in a 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 suggests a potential upside of 7.27% from the stock's current price.

A number of other brokerages have also recently commented on D. BTIG Research began coverage on shares of Dominion Energy in a report on Wednesday. They set a "neutral" rating for the company. Barclays upped their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. upped their target price on shares of Dominion Energy from $56.00 to $59.00 and gave the stock an "underweight" rating in a report on Thursday, August 21st. Evercore ISI assumed coverage on shares of Dominion Energy in a report on Tuesday, October 7th. They issued an "in-line" rating and a $67.00 target price for the company. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dominion Energy in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Dominion Energy presently has an average rating of "Hold" and a consensus target price of $62.43.

Dominion Energy Stock Up 1.1%

NYSE:D traded up $0.66 during mid-day trading on Wednesday, hitting $61.53. 1,029,734 shares of the company's stock were exchanged, compared to its average volume of 5,176,301. The business has a fifty day moving average price of $60.43 and a 200 day moving average price of $57.50. The company has a market cap of $52.51 billion, a PE ratio of 21.21, a P/E/G ratio of 1.33 and a beta of 0.62. Dominion Energy has a one year low of $48.07 and a one year high of $62.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49.

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

Insider Transactions at Dominion Energy

In related news, CEO Robert M. Blue bought 4,152 shares of Dominion Energy stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average cost of $60.35 per share, with a total value of $250,573.20. Following the completion of the transaction, the chief executive officer owned 161,237 shares in the company, valued at $9,730,652.95. The trade was a 2.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in D. CoreFirst Bank & Trust purchased a new stake in shares of Dominion Energy during the 2nd quarter worth about $25,000. AlphaQuest LLC acquired a new position in shares of Dominion Energy during the 1st quarter worth about $27,000. Westside Investment Management Inc. raised its position in shares of Dominion Energy by 123.3% during the 2nd quarter. Westside Investment Management Inc. now owns 469 shares of the utilities provider's stock worth $27,000 after purchasing an additional 259 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Dominion Energy during the 1st quarter worth about $28,000. Finally, Dagco Inc. acquired a new position in shares of Dominion Energy during the 1st quarter worth about $31,000. 73.04% of the stock is currently 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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