Morgan Stanley Has Lowered Expectations for Dominion Energy (NYSE:D) Stock Price

Dominion Energy (NYSE:DFree Report) had its price objective cut by Morgan Stanley from $62.00 to $60.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $52.00 target price (down previously from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. UBS Group boosted their target price on shares of Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, Argus raised shares of Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.38.

Read Our Latest Stock Report on D

Dominion Energy Stock Up 0.8%

Shares of D opened at $54.18 on Wednesday. Dominion Energy has a one year low of $47.99 and a one year high of $61.97. The company has a market cap of $46.21 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.17 and a beta of 0.56. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $54.86 and a two-hundred day simple moving average of $54.74.

Dominion Energy (NYSE:DGet Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. Research analysts forecast that Dominion Energy will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.93%. Dominion Energy’s dividend payout ratio is 100.00%.

Institutional Trading of Dominion Energy

Several institutional investors have recently modified their holdings of D. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Dominion Energy by 450.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 378 shares during the period. Cape Investment Advisory Inc. lifted its stake in shares of Dominion Energy by 175.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 300 shares during the period. BankPlus Trust Department acquired a new position in shares of Dominion Energy in the 4th quarter valued at about $26,000. AlphaQuest LLC acquired a new position in shares of Dominion Energy in the 1st quarter valued at about $27,000. Finally, Fairway Wealth LLC acquired a new position in shares of Dominion Energy in the 4th quarter valued at about $27,000. Institutional investors own 73.04% of the company’s stock.

About Dominion Energy

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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.

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Analyst Recommendations for Dominion Energy (NYSE:D)

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