Dominion Energy (NYSE:D) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Dominion Energy (NYSE:D) had its price target hoisted by Morgan Stanley from $60.00 to $63.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

D has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Scotiabank increased their price objective on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Dominion Energy has an average rating of “Hold” and an average price target of $57.36.

Dominion Energy Stock Performance

D stock opened at $54.91 on Thursday. The firm has a market cap of $46.79 billion, a PE ratio of 20.34, a P/E/G ratio of 1.22 and a beta of 0.58. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average of $55.17 and a 200-day moving average of $56.31. Dominion Energy has a 12-month low of $46.56 and a 12-month high of $61.97.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. As a group, sell-side analysts expect that Dominion Energy will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were given a $0.6675 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.86%. Dominion Energy’s dividend payout ratio (DPR) is presently 98.89%.

Institutional Investors Weigh In On Dominion Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Dominion Energy by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,164,929 shares of the utilities provider’s stock worth $298,481,000 after buying an additional 43,055 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Dominion Energy by 63.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after purchasing an additional 3,278,175 shares in the last quarter. Barclays PLC raised its position in Dominion Energy by 19.8% during 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 in the last quarter. Czech National Bank raised its position in Dominion Energy by 6.6% during the fourth quarter. Czech National Bank now owns 182,131 shares of the utilities provider’s stock valued at $9,810,000 after purchasing an additional 11,231 shares in the last quarter. Finally, HB Wealth Management LLC raised its position in Dominion Energy by 15.6% during the fourth quarter. HB Wealth Management LLC now owns 35,993 shares of the utilities provider’s stock valued at $1,939,000 after purchasing an additional 4,861 shares in the last quarter. Hedge funds and other 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.