Dominion Energy (NYSE:D) Price Target Raised to $94.00

Dominion Energy (NYSE:DGet Rating) had its target price hoisted by Morgan Stanley from $87.00 to $94.00 in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other equities analysts have also weighed in on D. KeyCorp increased their price target on Dominion Energy from $90.00 to $92.00 and gave the company an overweight rating in a research report on Wednesday. The Goldman Sachs Group lowered Dominion Energy from a neutral rating to a sell rating and set a $72.00 price objective for the company. in a research report on Thursday, January 13th. UBS Group upgraded Dominion Energy from a neutral rating to a buy rating and raised their price objective for the stock from $81.00 to $98.00 in a research report on Wednesday, January 5th. Barclays started coverage on Dominion Energy in a research report on Tuesday, January 25th. They set an equal weight rating and a $86.00 price objective for the company. Finally, StockNews.com started coverage on Dominion Energy in a research report on Thursday, March 31st. They set a hold rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $85.25.

NYSE:D opened at $84.89 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.84 and a debt-to-equity ratio of 1.47. Dominion Energy has a 1-year low of $70.37 and a 1-year high of $88.78. The firm has a market capitalization of $68.82 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 3.49 and a beta of 0.41. The stock has a fifty day simple moving average of $83.02 and a 200 day simple moving average of $78.88.

Dominion Energy (NYSE:DGet Rating) last released its quarterly earnings results on Friday, February 11th. The utilities provider reported $0.90 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.90. Dominion Energy had a return on equity of 12.70% and a net margin of 23.55%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the company posted $0.81 EPS. Dominion Energy’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts predict that Dominion Energy will post 4.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, March 20th. Stockholders of record on Friday, March 4th were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 3.15%. This is a positive change from Dominion Energy’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 3rd. Dominion Energy’s payout ratio is currently 67.09%.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Dominion Energy by 6.3% in the 4th quarter. BlackRock Inc. now owns 55,640,019 shares of the utilities provider’s stock valued at $4,371,081,000 after acquiring an additional 3,308,258 shares in the last quarter. State Street Corp raised its stake in shares of Dominion Energy by 1.2% in the 4th quarter. State Street Corp now owns 42,683,815 shares of the utilities provider’s stock valued at $3,353,241,000 after acquiring an additional 493,101 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Dominion Energy by 5.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 21,175,100 shares of the utilities provider’s stock valued at $1,663,516,000 after acquiring an additional 1,005,105 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Dominion Energy by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 18,682,193 shares of the utilities provider’s stock valued at $1,364,174,000 after acquiring an additional 111,748 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Dominion Energy by 17.2% in the 4th quarter. Capital Research Global Investors now owns 18,060,658 shares of the utilities provider’s stock valued at $1,418,845,000 after acquiring an additional 2,649,044 shares in the last quarter. Institutional investors and hedge funds own 67.04% of the company’s stock.

Dominion Energy Company Profile (Get Rating)

Dominion Energy, Inc produces and distributes energy. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to residential, commercial, industrial, and governmental customers in Virginia and North Carolina.

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