Guggenheim lowered the firm’s price target on Dominion (D) to $56 from $60 and keeps a Buy rating on the shares after the company announced that it has agreed to sell its 50% noncontrolling limited partner interest in Cove Point LNG, LP, to Berkshire Hathaway Energy (BRK.A). Dominion’s sale of Cove Point “marks the beginning of the end” for the strategic review process, but without further clarity on the other sale processes, “the permutations remain numerous and the range of potential ’25 anchors wide, making it somewhat hard to frame this step as a major positive or negative for the overall process,” the analyst tells investors.
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Read More on D:
- Buffett’s Berkshire Snaps Up Dominion’s Stake in US LNG Plant for $3.3B
- Dominion Energy Announces Sale of Remaining Interest in Cove Point
- Dominion Energy sells remaining Cove Point stake to Berkshire Hathaway Energy
- Dominion price target lowered to $60 from $63 at Guggenheim
- Dominion price target lowered to $59 from $63 at BMO Capital