Dominion Energy (NYSE:D) Given New $63.00 Price Target at Morgan Stanley

Dominion Energy (NYSE:D) had its target price lifted by Morgan Stanley from $60.00 to $63.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other analysts also recently commented on D. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Scotiabank upped their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $57.58.

Dominion Energy Stock Down 0.9 %

Shares of Dominion Energy stock opened at $54.51 on Thursday. The company has a market cap of $46.44 billion, a P/E ratio of 20.19, a PEG ratio of 1.22 and a beta of 0.58. Dominion Energy has a 52-week low of $46.56 and a 52-week high of $61.97. 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 firm’s 50 day moving average price is $55.19 and its 200-day moving average price is $56.30.

Dominion Energy (NYSE:D) last released its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. On average, sell-side analysts predict that Dominion Energy will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Friday, February 28th. Dominion Energy’s dividend payout ratio is currently 98.89%.

Institutional Investors Weigh In On Dominion Energy

A number of hedge funds have recently modified their holdings of the company. Cape Investment Advisory Inc. lifted its position in shares of Dominion Energy by 175.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Dominion Energy by 450.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 378 shares in the last quarter. BankPlus Trust Department acquired a new stake in shares of Dominion Energy during the fourth quarter worth about $26,000. Roble Belko & Company Inc acquired a new stake in shares of Dominion Energy during the fourth quarter worth about $27,000. Finally, Fairway Wealth LLC acquired a new stake in shares of Dominion Energy during the fourth quarter worth about $27,000. 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.