Dominion Energy (NYSE:D) Price Target Cut to $62.00 by Analysts at Morgan Stanley

Dominion Energy (NYSE:D) had its target price lowered by Morgan Stanley from $63.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the stock. Argus raised shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $52.00 target price (down from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. Finally, UBS Group raised their price target on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and an average target price of $58.63.

Dominion Energy Stock Down 1.5%

NYSE D opened at $55.70 on Thursday. Dominion Energy has a 12 month low of $47.99 and a 12 month high of $61.97. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The stock has a market cap of $47.50 billion, a PE ratio of 20.63, a P/E/G ratio of 1.22 and a beta of 0.57. The stock’s 50 day moving average is $54.10 and its 200 day moving average is $55.03.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Dominion Energy will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, May 29th. Dominion Energy’s payout ratio is 100.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in D. Vanguard Group Inc. lifted its stake in shares of Dominion Energy by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider’s stock valued at $5,106,823,000 after purchasing an additional 1,565,459 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Dominion Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock worth $1,667,540,000 after buying an additional 1,459,926 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Dominion Energy by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after buying an additional 1,222,688 shares during the period. Dodge & Cox increased its position in Dominion Energy by 3.0% during the first quarter. Dodge & Cox now owns 23,308,378 shares of the utilities provider’s stock valued at $1,306,901,000 after acquiring an additional 685,245 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Dominion Energy by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider’s stock valued at $997,034,000 after acquiring an additional 601,900 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

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.