Dominion Energy (D) Price Target Cut by $1 at Morgan Stanley

Dominion Energy, Inc. (NYSE:D) is included among the 10 Best Nuclear Energy Stocks to Buy for Dividends.

Dominion Energy (D) Price Target Cut by $1 at Morgan Stanley

Dominion Energy, Inc. (NYSE:D) provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina. The company generates around 40% of its energy from nuclear power facilities.

On April 21, Morgan Stanley slightly trimmed its price target on Dominion Energy, Inc. (NYSE:D) from $69 to $68, but maintained its ‘Overweight’ rating on the shares. The lowered target, which still indicates an upside of almost 9% from the current levels, comes as the analyst firm revised its estimates for the Regulated & Diversified Utilities / IPPs in North America under its coverage.

The analyst also highlighted the utilities sector’s performance in March. The sector surged by 16.4% during the month, comfortably outperforming the gains of 9.6% posted by the overall S&P 500.

Dominion Energy, Inc. (NYSE:D) also received a significant boost last month when it officially generated its first power from the long-delayed Coastal Virginia Offshore Wind project. The 2.6 GW project is the largest of its kind in the United States and will supply clean energy to 660,000 customers.

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