Morgan Stanley Forecasts Strong Price Appreciation for Dominion Energy (NYSE:D) Stock

Dominion Energy (NYSE:D) had its price target hoisted by stock analysts at Morgan Stanley from $63.00 to $66.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 8.67% from the company’s current price.

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

Dominion Energy Trading Down 0.3%

Shares of D opened at $60.74 on Wednesday. Dominion Energy has a 12-month low of $48.07 and a 12-month high of $62.52. 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 firm has a market capitalization of $51.83 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 2.20 and a beta of 0.62. The stock’s 50-day moving average price is $60.40 and its 200 day moving average price is $57.59.

Dominion Energy (NYSE:D) last issued its quarterly 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). 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 for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The company’s revenue 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, research analysts predict that Dominion Energy will post 3.39 earnings per share for the current year.

Insider Activity at Dominion Energy

In other Dominion Energy 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 acquisition, the chief executive officer directly owned 161,237 shares of the company’s stock, valued at $9,730,652.95. The trade was a 2.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of D. Vanguard Group Inc. raised its position in Dominion Energy by 16.2% in the 2nd quarter. Vanguard Group Inc. now owns 105,795,310 shares of the utilities provider’s stock worth $5,979,551,000 after purchasing an additional 14,715,895 shares during the last quarter. Norges Bank bought a new position in Dominion Energy in the 2nd quarter worth approximately $566,924,000. Wellington Management Group LLP raised its position in Dominion Energy by 19.4% in the 1st quarter. Wellington Management Group LLP now owns 17,744,198 shares of the utilities provider’s stock worth $994,917,000 after purchasing an additional 2,882,252 shares during the last quarter. Nuveen LLC bought a new position in Dominion Energy in the 1st quarter worth approximately $96,723,000. Finally, AQR Capital Management LLC raised its position in Dominion Energy by 588.9% in the 1st quarter. AQR Capital Management LLC now owns 1,974,405 shares of the utilities provider’s stock worth $109,678,000 after purchasing an additional 1,687,819 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

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.