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

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

A number of other equities research analysts have also recently weighed in on D. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Scotiabank increased their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays lifted their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group initiated coverage on shares of Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.33.

Dominion Energy Stock Down 2.4 %

Shares of NYSE D opened at $57.35 on Monday. The stock has a market cap of $48.17 billion, a PE ratio of 20.12, a P/E/G ratio of 1.56 and a beta of 0.59. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy has a 12-month low of $43.53 and a 12-month high of $61.97. The company has a 50-day moving average of $58.19 and a 200 day moving average of $55.06.

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

Dominion Energy Announces Dividend

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

Institutional Trading of Dominion Energy

Several institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC increased its position in shares of Dominion Energy by 63.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock worth $487,567,000 after purchasing an additional 3,278,175 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Dominion Energy by 10,324.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock worth $130,074,000 after buying an additional 2,229,220 shares during the last quarter. International Assets Investment Management LLC increased its position in Dominion Energy by 7,438.3% during the third quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock worth $85,734,000 after buying an additional 1,463,858 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Dominion Energy in the second quarter valued at approximately $67,854,000. Finally, State Street Corp boosted its holdings in shares of Dominion Energy by 3.2% in the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock valued at $2,559,972,000 after acquiring an additional 1,365,555 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.