Morgan Stanley Lowers Dominion Energy (NYSE:D) Price Target to $62.00

Dominion Energy (NYSE:D) had its price target decreased by equities researchers at Morgan Stanley from $63.00 to $62.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 9.66% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. restated an “underweight” rating and issued a $52.00 price target (down previously from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. UBS Group increased their price target on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Argus raised Dominion Energy to a “hold” rating in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.63.

Dominion Energy Stock Down 2.5%

Shares of D stock opened at $56.54 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy has a 12 month low of $47.99 and a 12 month high of $61.97. The stock has a market cap of $48.21 billion, a P/E ratio of 20.94, a P/E/G ratio of 1.22 and a beta of 0.57. The company has a 50 day simple moving average of $54.08 and a two-hundred day simple moving average of $55.04.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, research analysts expect that Dominion Energy will post 3.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of D. Barclays PLC increased its holdings in shares of Dominion Energy by 19.8% in the third quarter. Barclays PLC now owns 2,452,701 shares of the utilities provider’s stock valued at $141,739,000 after purchasing an additional 404,868 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Dominion Energy by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after purchasing an additional 1,222,688 shares during the period. Merit Financial Group LLC increased its position in Dominion Energy by 21.7% during the fourth quarter. Merit Financial Group LLC now owns 12,216 shares of the utilities provider’s stock worth $658,000 after purchasing an additional 2,175 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Dominion Energy by 13.0% in the 4th quarter. Arkadios Wealth Advisors now owns 4,930 shares of the utilities provider’s stock valued at $266,000 after purchasing an additional 569 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Dominion Energy by 6.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,100 shares of the utilities provider’s stock worth $221,000 after buying an additional 258 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

About Dominion Energy

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.