JPMorgan Chase & Co. Increases Dominion Energy (NYSE:D) Price Target to $59.00

Dominion Energy (NYSE:D - Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $58.00 to $59.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the utilities provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 3.94% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Scotiabank boosted their price objective on Dominion Energy from $58.00 to $61.00 and gave the stock a "sector perform" rating in a research note on Thursday, December 12th. Morgan Stanley assumed coverage on Dominion Energy in a research report on Monday, December 2nd. They set an "equal weight" rating and a $61.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Dominion Energy has an average rating of "Hold" and a consensus price target of $57.18.

Dominion Energy Price Performance

Shares of D traded up $0.22 during mid-day trading on Tuesday, hitting $56.76. 398,007 shares of the stock were exchanged, compared to its average volume of 4,757,087. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. The company has a market cap of $48.37 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. Dominion Energy has a 52-week low of $46.56 and a 52-week high of $61.97. The firm has a 50-day moving average of $55.10 and a two-hundred day moving average of $56.40.

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Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, beating 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, equities analysts predict that Dominion Energy will post 3.39 earnings per share for the current year.

Hedge Funds Weigh In On Dominion Energy

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Dominion Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider's stock worth $4,821,222,000 after purchasing an additional 674,859 shares in the last quarter. State Street Corp grew its position in shares of Dominion Energy by 3.2% during the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider's stock worth $2,559,972,000 after buying an additional 1,365,555 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Dominion Energy by 4.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider's stock valued at $1,667,540,000 after buying an additional 1,459,926 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Dominion Energy by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider's stock valued at $1,653,964,000 after acquiring an additional 1,222,688 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Dominion Energy by 3.4% in 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 in the last quarter. 73.04% of the stock is owned by hedge funds and other 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.

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