Dominion Energy (NYSE:D) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Dominion Energy (NYSE:D) in a report issued on Monday morning. The firm issued an equal weight rating and a $61.00 target price on the utilities provider’s stock.

Other analysts have also recently issued research reports about the company. Scotiabank increased their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their target price on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Jefferies Financial Group began coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price target on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $61.00 price objective on shares of Dominion Energy in a research note on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy has a consensus rating of “Hold” and an average price target of $56.33.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $57.35 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock’s fifty day moving average is $58.19 and its two-hundred day moving average is $55.06. Dominion Energy has a 52 week low of $43.53 and a 52 week high of $61.97. The company has a market capitalization of $48.17 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.56 and a beta of 0.59.

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

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.66%. Dominion Energy’s dividend payout ratio is presently 93.68%.

Hedge Funds Weigh In On Dominion Energy

A number of institutional investors have recently modified their holdings of the stock. BLB&B Advisors LLC grew its position in Dominion Energy by 2.5% during the third quarter. BLB&B Advisors LLC now owns 7,223 shares of the utilities provider’s stock valued at $417,000 after buying an additional 173 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Dominion Energy by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 195 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its holdings in Dominion Energy by 2.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 7,786 shares of the utilities provider’s stock worth $450,000 after purchasing an additional 195 shares during the period. Valley National Advisers Inc. boosted its position in Dominion Energy by 8.6% during the second quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 198 shares in the last quarter. Finally, Altman Advisors Inc. grew its holdings in Dominion Energy by 0.7% in the second quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock valued at $1,423,000 after purchasing an additional 198 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

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.