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Morgan Stanley Cuts Dominion Energy (NYSE:D) Price Target to $65.00

Morgan Stanley Cuts Dominion Energy (NYSE:D) Price Target to $65.00

kopsource ·  02/03 21:52

Dominion Energy (NYSE:D – Get Rating) had its target price reduced by Morgan Stanley from $76.00 to $65.00 in a report issued on Thursday, The Fly reports. They currently have an equal weight rating on the utilities provider's stock.

Other analysts have also issued research reports about the company. The Goldman Sachs Group upgraded Dominion Energy from a sell rating to a neutral rating and decreased their price target for the company from $72.00 to $69.00 in a report on Sunday, November 13th. Maxim Group began coverage on Dominion Energy in a research note on Friday, November 4th. They issued a hold rating for the company. TheStreet cut Dominion Energy from a b- rating to a c+ rating in a research report on Thursday, October 6th. Wolfe Research lowered Dominion Energy from an outperform rating to a peer perform rating in a report on Monday, November 7th. Finally, initiated coverage on Dominion Energy in a research note on Wednesday, October 12th. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Dominion Energy has a consensus rating of Hold and an average price target of $71.25.

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Dominion Energy Price Performance

Shares of NYSE:D opened at $62.00 on Thursday. The business has a 50-day simple moving average of $61.16 and a two-hundred day simple moving average of $69.65. The firm has a market cap of $51.66 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.67 and a beta of 0.43. Dominion Energy has a fifty-two week low of $57.18 and a fifty-two week high of $88.78. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.57 and a current ratio of 0.71.

Dominion Energy (NYSE:D – Get Rating) last announced its quarterly earnings data on Friday, November 4th. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.03. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $3.98 billion. Dominion Energy had a return on equity of 12.84% and a net margin of 14.73%. The firm's revenue was up 38.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. On average, analysts expect that Dominion Energy will post 4.1 earnings per share for the current year.

Hedge Funds Weigh In On Dominion Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in Dominion Energy by 7.7% in the first quarter. Sei Investments Co. now owns 168,723 shares of the utilities provider's stock valued at $14,325,000 after purchasing an additional 12,002 shares in the last quarter. Prudential PLC acquired a new position in shares of Dominion Energy during the 1st quarter valued at $1,528,000. Sequoia Financial Advisors LLC raised its holdings in Dominion Energy by 30.0% during the first quarter. Sequoia Financial Advisors LLC now owns 7,195 shares of the utilities provider's stock worth $611,000 after buying an additional 1,661 shares during the last quarter. Covestor Ltd grew its stake in shares of Dominion Energy by 49.8% in the 1st quarter. Covestor Ltd now owns 394 shares of the utilities provider's stock worth $34,000 after acquiring an additional 131 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in Dominion Energy during the first quarter valued at about $419,000. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Company Profile

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Dominion Energy, Inc engages in the provision of electricity and natural gas to homes, businesses, and wholesale customers. Its operations also include a regulated interstate natural gas transmission pipeline and underground storage system. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets and Corporate and Other.

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