Dominion Energy (NYSE:D) Research Coverage Started at Morgan Stanley

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

D has been the topic of a number of other reports. Scotiabank lifted their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. 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 for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a report on Friday, November 8th. Barclays upped their price target 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, BMO Capital Markets upped their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.33.

Dominion Energy Stock Down 0.5 %

D stock opened at $56.36 on Monday. Dominion Energy has a twelve month low of $43.53 and a twelve 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 company has a market capitalization of $47.34 billion, a P/E ratio of 19.78, a PEG ratio of 1.53 and a beta of 0.59. The firm has a 50 day simple moving average of $58.16 and a 200-day simple moving average of $55.12.

Dominion Energy (NYSE:D) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, equities research analysts predict that Dominion Energy will post 2.76 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a $0.6675 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.74%. Dominion Energy’s dividend payout ratio is 93.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in Dominion Energy by 3.2% during the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after acquiring an additional 1,365,555 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Dominion Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock worth $1,452,145,000 after acquiring an additional 477,181 shares in the last quarter. Geode Capital Management LLC raised its stake in Dominion Energy by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after acquiring an additional 367,193 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Dominion Energy by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock valued at $734,007,000 after buying an additional 940,402 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Dominion Energy by 4.8% in the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock valued at $496,358,000 after buying an additional 398,012 shares in the last quarter. 73.04% of the stock is owned by institutional investors.

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.