Morgan Stanley Lowers Dominion (D) Price Target

Dominion Energy, Inc. (NYSE:D) is included among the 14 Best Utility Dividend Stocks to Buy Now.

Morgan Stanley Lowers Dominion (D) Price Target

Photo by Matthew Henry on Unsplash

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.

On November 20, Morgan Stanley lowered its price target on Dominion Energy, Inc. (NYSE:D) from $66 to $65, while maintaining an ‘Equal Weight’ rating on its shares, as reported by The Fly. The adjustment comes as the analyst firm updates its price targets for Regulated & Diversified Utilities / IPPs in North America under its coverage. The analyst highlighted that the utilities sector underperformed the overall market in October.

In other news, a Bloomberg report on November 19 revealed that Dominion Energy, Inc. (NYSE:D) is in talks to acquire the Northern Virginia Electric Cooperative, in a move that would allow the utility to serve the cluster of data centers in Northern Virginia. While Dominion could ink the deal in the coming months, no decision has been made yet.

Dominion Energy, Inc. (NYSE:D) stated in its Q3 earnings call that it continues to see a rising demand for data centers. The company is currently in various stages of contracting to provide these power-hungry centers with 47 GW of capacity, up 17% from around 40 GW as of December 2024.

While we acknowledge the potential of D as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than D and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Best Renewable Energy Dividend Stocks to Buy Now and 11 Best High Yield Energy Stocks to Buy Now.

Disclosure: None.