The bistable dielectric elastomer actuator (BDEA) possesses two stable positions which offers notable advantages of stable-state self-maintenance, fast response, and threshold snap-through characteristic in comparison with conventional dielectric elastomers. However, the strong nonlinearity induced by the coupling among materials, structure, and electrostatic fields greatly affect the dynamic response and gives rise to stability issues. Hence, a novel BDEA is proposed by introducing DEA film centrally connected with one mass block and linear spring, and the bistability can be adjusted by applying external voltage. A nonlinear dynamical model considering the electro-mechanical coupling effects is established using the Euler-Lagrange method, with which the snap-through procedure is theoretically analyzed and validated through the analytic method and finite element method. The influences of the electric actuation and structural parameters on the number of stable states and natural frequency are analyzed. Additionally, the supercritical pitchfork bifurcation and saddle-node bifurcation are investigated through dynamic analysis under forced vibration. Furthermore, the ranges of electrical actuation parameters can be determined for preventing the bifurcation phenomena under parametric excitations. Moreover, an active morphing strategy for achieving nonlinear dynamic morphing between steady states of BDEA using drive voltage is obtained, thereby enhancing the versatility of conical BDEA.