Dominion Energy (NYSE:D) Price Target Raised to $66.00

Dominion Energy (NYSE:D) had its target price lifted by Morgan Stanley from $63.00 to $66.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the company. Evercore ISI began coverage on Dominion Energy in a research note on Tuesday, October 7th. They set an “in-line” rating and a $67.00 price target for the company. BTIG Research began coverage on Dominion Energy in a research note on Wednesday. They set a “neutral” rating for the company. Barclays increased their price target on Dominion Energy from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. raised their target price on Dominion Energy from $56.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dominion Energy in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $62.43.

Dominion Energy Trading Up 0.6%

Shares of Dominion Energy stock opened at $61.05 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.49. The firm has a market cap of $52.10 billion, a PE ratio of 21.05, a P/E/G ratio of 2.20 and a beta of 0.62. Dominion Energy has a 1 year low of $48.07 and a 1 year high of $62.52. The stock has a fifty day moving average price of $60.40 and a 200-day moving average price of $57.67.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The firm had revenue of $3.81 billion for 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 firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities research analysts anticipate that Dominion Energy will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, September 20th. Stockholders of record on Friday, September 5th were paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, September 5th. Dominion Energy’s dividend payout ratio is currently 92.07%.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue bought 4,152 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average cost of $60.35 per share, with a total value of $250,573.20. Following the completion of the purchase, the chief executive officer owned 161,237 shares in the company, valued at approximately $9,730,652.95. The trade was a 2.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Dominion Energy

Institutional investors have recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in Dominion Energy by 64.3% in the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 3,553 shares during the period. GAMMA Investing LLC lifted its holdings in Dominion Energy by 13.3% in the first quarter. GAMMA Investing LLC now owns 22,771 shares of the utilities provider’s stock valued at $1,277,000 after acquiring an additional 2,673 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Dominion Energy by 191.8% in the first quarter. JFS Wealth Advisors LLC now owns 823 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 541 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Dominion Energy by 7.1% in the first quarter. Asset Management One Co. Ltd. now owns 350,087 shares of the utilities provider’s stock valued at $19,629,000 after acquiring an additional 23,209 shares during the period. Finally, Legacy Advisors LLC lifted its holdings in Dominion Energy by 41.8% in the first quarter. Legacy Advisors LLC now owns 5,744 shares of the utilities provider’s stock valued at $322,000 after acquiring an additional 1,694 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

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.