TD Cowen Initiates Coverage on Dominion Energy (NYSE:D)

Stock analysts at TD Cowen started coverage on shares of Dominion Energy (NYSE:D) in a research note issued on Friday, MarketBeat Ratings reports. The firm set a “hold” rating and a $65.00 price target on the utilities provider’s stock. TD Cowen’s price target points to a potential upside of 12.14% from the company’s current price.

Several other brokerages have also issued reports on D. Morgan Stanley lifted their price target on Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company began coverage on shares of Dominion Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $67.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Dominion Energy from $62.00 to $59.00 and set an “underweight” rating for the company in a research report on Thursday, December 11th. Evercore ISI initiated coverage on shares of Dominion Energy in a report on Tuesday, October 7th. They set an “in-line” rating and a $67.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dominion Energy in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.78.

Dominion Energy Stock Performance

D stock opened at $57.96 on Friday. The firm has a 50 day simple moving average of $59.76 and a 200 day simple moving average of $59.65. Dominion Energy has a 52 week low of $48.07 and a 52 week high of $62.87. The stock has a market cap of $49.50 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.57 and a beta of 0.72. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.65 and a current ratio of 0.84.

Dominion Energy (NYSE:D) last released its earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. Dominion Energy had a net margin of 16.17% and a return on equity of 9.60%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Dominion Energy has set its FY 2025 guidance at 3.330-3.480 EPS. Research analysts anticipate that Dominion Energy will post 3.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in D. Patton Fund Management Inc. bought a new position in shares of Dominion Energy during the second quarter valued at about $235,000. Rockefeller Capital Management L.P. increased its stake in Dominion Energy by 6.9% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 186,885 shares of the utilities provider’s stock valued at $10,563,000 after buying an additional 12,041 shares during the last quarter. Vanguard Group Inc. increased its stake in Dominion Energy by 16.2% in the 2nd quarter. Vanguard Group Inc. now owns 105,795,310 shares of the utilities provider’s stock valued at $5,979,551,000 after buying an additional 14,715,895 shares during the last quarter. Bryn Mawr Trust Advisors LLC lifted its position in shares of Dominion Energy by 19.0% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 104,710 shares of the utilities provider’s stock worth $5,918,000 after buying an additional 16,731 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Dominion Energy in the 2nd quarter worth approximately $240,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

About Dominion Energy

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.