BMO Capital analyst James Thalacker lowered the firm’s price target on Dominion (D) to $50 from $54 but keeps an Outperform rating on the shares. The firm is updating its model after the company’s $14B asset sale to Enbridge (ENB), also revising its FY23 EPS view by 9c to $2.95 and its FY24 view by 10c to $3.20. BMO adds however that it still views Dominion’s assets as “among the best in the sector” with a premier utility franchise, growing gas distribution business, and sector-leading regulated renewable capex program featuring solar, batteries, and offshore wind.
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Read More on D:
- Dominion price target lowered to $46 from $58 at Mizuho
- Enbridge (TSE:ENB) to Buy Three Utility Companies in $14B Deal
- Enbridge down 7% at $32.79 after announcing $14B asset purchase from Dominion
- Dominion lowers Q3 EPS view 5c-6c from previous guidance of 72c-87c
- Dominion sells natural gas distribution companies to Enbridge for $14B
