Morgan Stanley Cuts Dominion Energy (NYSE:D) Price Target to $87.00

Dominion Energy (NYSE:D) had its target price cut by analysts at Morgan Stanley from $89.00 to $87.00 in a report issued on Tuesday, AnalystRatings.com reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 4.58% from the company’s previous close.

Several other equities analysts have also issued reports on D. Argus upped their target price on Dominion Energy from $83.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. Wells Fargo & Co restated a “hold” rating on shares of Dominion Energy in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Dominion Energy from $78.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, TheStreet upgraded Dominion Energy from a “c+” rating to a “b-” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $82.00.

Shares of Dominion Energy stock traded up $0.20 on Tuesday, hitting $83.19. The company had a trading volume of 25,089 shares, compared to its average volume of 2,557,533. The stock has a market capitalization of $67.45 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 3.93 and a beta of 0.22. Dominion Energy has a 1 year low of $68.03 and a 1 year high of $83.93. The stock has a 50 day moving average of $81.83 and a 200-day moving average of $79.72. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.37 and a current ratio of 0.51.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.16 by $0.02. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.51 billion. Dominion Energy had a return on equity of 11.65% and a net margin of 6.40%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share. Equities analysts anticipate that Dominion Energy will post 4.21 earnings per share for the current year.

In related news, CEO Diane Leopold sold 11,500 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $82.48, for a total value of $948,520.00. Following the sale, the chief executive officer now owns 60,564 shares in the company, valued at $4,995,318.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC raised its holdings in Dominion Energy by 313.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 310 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 235 shares during the last quarter. Atwater Malick LLC purchased a new position in Dominion Energy in the 3rd quarter worth approximately $28,000. Vista Private Wealth Partners. LLC purchased a new position in Dominion Energy in the 3rd quarter worth approximately $37,000. West Oak Capital LLC purchased a new position in Dominion Energy in the 3rd quarter worth approximately $61,000. Finally, Ellis Investment Partners LLC raised its holdings in Dominion Energy by 165.6% in the 3rd quarter. Ellis Investment Partners LLC now owns 802 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 65.38% of the company’s stock.

Dominion Energy Company Profile

Dominion Energy, Inc produces and transports energy. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities.

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Analyst Recommendations for Dominion Energy (NYSE:D)

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