Dominion Energy (NYSE:D) Now Covered by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Dominion Energy (NYSE:D) in a research note issued to investors on Monday. The brokerage set an “equal weight” rating and a $61.00 price target on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 3.88% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group restated a “neutral” rating and set a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Jefferies Financial Group started coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price target for the company. Barclays upped their price objective on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets increased their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.33.

Dominion Energy Trading Down 0.1 %

Shares of D stock opened at $58.72 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy has a 12-month low of $43.53 and a 12-month high of $61.97. The stock has a market capitalization of $49.33 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.56 and a beta of 0.59. The firm’s 50 day moving average is $58.19 and its 200 day moving average is $55.06.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the company posted $0.77 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts expect that Dominion Energy will post 2.76 earnings per share for the current year.

Institutional Trading of Dominion Energy

A number of hedge funds have recently added to or reduced their stakes in D. State Street Corp boosted its holdings in shares of Dominion Energy by 3.2% in the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock valued at $2,559,972,000 after buying an additional 1,365,555 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Dominion Energy by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock valued at $1,452,145,000 after purchasing an additional 477,181 shares during the last quarter. Geode Capital Management LLC grew its stake in Dominion Energy by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after buying an additional 367,193 shares during the last quarter. Bank of New York Mellon Corp increased its position in Dominion Energy by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock valued at $734,007,000 after buying an additional 940,402 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Dominion Energy by 4.8% in the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock valued at $496,358,000 after buying an additional 398,012 shares during the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

About Dominion Energy

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.