Morgan Stanley Raises Price Target on Dominion Energy (D)

Morgan Stanley raised its price target on Dominion Energy (NYSE:D) to a new level while maintaining its rating on the stock. The revision follows the company's resilient operations and steady dividend payments.

Rating Change

Analysts at Morgan Stanley increased the price target without altering the core rating. The exact new target was not disclosed in the report.

Analyst Rationale

Analysts view Dominion Energy as offering an attractive mix with a 3.85% annual dividend yield, making it one of the best NYSE dividend stocks. The company 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.

Context

The recommendation comes as investors turn to utility stocks for steady income amid market volatility. Dominion Energy is a key player in the U.S. energy sector.

What to Make of It

Morgan Stanley's recommendation reflects confidence in Dominion Energy's business model and its ability to maintain stable dividends, making the stock a suitable choice for income-focused investors.