Dominion Energy (NYSE:D) Given New $63.00 Price Target at Morgan Stanley

Dominion Energy (NYSE:D) had its price target cut by Morgan Stanley from $64.00 to $63.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Separately, JPMorgan Chase & Co. increased their price objective on Dominion Energy from $56.00 to $59.00 and gave the company an “underweight” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.33.

Dominion Energy Stock Performance

D opened at $59.65 on Thursday. The firm’s fifty day simple moving average is $59.94 and its two-hundred day simple moving average is $56.70. Dominion Energy has a 52-week low of $48.07 and a 52-week high of $62.46. The company has a market cap of $50.91 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.32 and a beta of 0.60. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

Dominion Energy (NYSE:D) last released 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 company had revenue of $3.81 billion for the quarter, compared to analyst estimates 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 for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Dominion Energy has set its FY 2025 guidance at 3.280-3.520 EPS. Equities analysts anticipate that Dominion Energy will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 20th. Investors of record on Friday, September 5th were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, September 5th. Dominion Energy’s dividend payout ratio is 92.07%.

Insider Transactions at Dominion Energy

In other Dominion Energy news, CEO Robert M. Blue purchased 4,152 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was bought 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 approximately $9,730,652.95. This represents a 2.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Institutional Trading of Dominion Energy

Institutional investors have recently modified their holdings of the stock. Barnes Wealth Management Group Inc grew its position in shares of Dominion Energy by 4.4% during the 2nd quarter. Barnes Wealth Management Group Inc now owns 3,970 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 169 shares in the last quarter. SPC Financial Inc. boosted its stake in shares of Dominion Energy by 1.4% in the second quarter. SPC Financial Inc. now owns 12,179 shares of the utilities provider’s stock valued at $688,000 after buying an additional 172 shares during the period. Maridea Wealth Management LLC grew its position in Dominion Energy by 2.1% during the second quarter. Maridea Wealth Management LLC now owns 8,940 shares of the utilities provider’s stock worth $505,000 after buying an additional 183 shares in the last quarter. Redwood Investment Management LLC increased its stake in Dominion Energy by 0.6% during the 2nd quarter. Redwood Investment Management LLC now owns 31,778 shares of the utilities provider’s stock worth $1,796,000 after acquiring an additional 183 shares during the period. Finally, Quotient Wealth Partners LLC raised its holdings in Dominion Energy by 2.4% in the 2nd quarter. Quotient Wealth Partners LLC now owns 7,795 shares of the utilities provider’s stock valued at $441,000 after acquiring an additional 184 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.