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

Dominion Energy (NYSE:DGet Rating) had its price objective dropped by Morgan Stanley from $91.00 to $87.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 4.33% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. KeyCorp lifted their price target on Dominion Energy from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Barclays assumed coverage on shares of Dominion Energy in a research note on Tuesday, January 25th. They issued an “equal weight” rating and a $86.00 target price on the stock. Finally, initiated coverage on shares of Dominion Energy in a research report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.38.

Shares of Dominion Energy stock traded up $0.85 during trading on Monday, hitting $83.39. 42,816 shares of the stock traded hands, compared to its average volume of 3,275,621. The stock has a market cap of $67.65 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 3.17 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.79 and a debt-to-equity ratio of 1.42. Dominion Energy has a 52 week low of $70.37 and a 52 week high of $88.78. The firm’s fifty day moving average is $84.16 and its 200-day moving average is $80.08.

Dominion Energy (NYSE:DGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.01). Dominion Energy had a net margin of 20.81% and a return on equity of 12.99%. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the company posted $1.09 EPS. Dominion Energy’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts forecast that Dominion Energy will post 4.12 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in D. Ellis Investment Partners LLC bought a new position in shares of Dominion Energy during the first quarter valued at approximately $25,000. DeDora Capital Inc. purchased a new position in Dominion Energy during the 1st quarter valued at $27,000. Blume Capital Management Inc. bought a new position in Dominion Energy in the 1st quarter valued at $27,000. West Bancorporation Inc. purchased a new stake in Dominion Energy in the fourth quarter worth $30,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Dominion Energy during the fourth quarter worth $30,000. 68.39% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Company Profile (Get Rating)

Dominion Energy, Inc produces and distributes energy. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to residential, commercial, industrial, and governmental customers in Virginia and North Carolina.

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