Dominion Energy (NYSE:D) Price Target Raised to $63.00

Dominion Energy (NYSE:D) had its price objective boosted by research analysts at Morgan Stanley from $60.00 to $63.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 14.91% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Scotiabank lifted their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.36.

Dominion Energy Stock Down 0.2 %

Dominion Energy stock traded down $0.08 during mid-day trading on Thursday, reaching $54.83. The company’s stock had a trading volume of 1,101,985 shares, compared to its average volume of 4,037,208. The company has a market capitalization of $46.71 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.22 and a beta of 0.58. Dominion Energy has a 12 month low of $46.56 and a 12 month high of $61.97. The business’s 50 day simple moving average is $55.16 and its 200 day simple moving average is $56.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. As a group, research analysts anticipate that Dominion Energy will post 3.39 earnings per share for the current year.

Hedge Funds Weigh In On Dominion Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Dominion Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider’s stock valued at $4,821,222,000 after purchasing an additional 674,859 shares during the last quarter. State Street Corp grew its holdings in shares of Dominion Energy by 3.2% during 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 purchasing an additional 1,365,555 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Dominion Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock valued at $1,667,540,000 after purchasing an additional 1,459,926 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after purchasing an additional 1,222,688 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Dominion Energy by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider’s stock valued at $997,034,000 after purchasing an additional 601,900 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

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.