Dominion Energy, Inc. Announces Quarterly Dividend of $0.67 (NYSE:D)

Dominion Energy, Inc. (NYSE:D) announced a quarterly dividend on Thursday, October 31st, RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.6675 per share by the utilities provider on Friday, December 20th. This represents a $2.67 annualized dividend and a yield of 4.49%.

Dominion Energy has decreased its dividend by an average of 8.2% per year over the last three years. Dominion Energy has a dividend payout ratio of 79.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Dominion Energy to earn $3.37 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 79.2%.

Dominion Energy Stock Performance

Shares of D stock traded up $1.08 on Thursday, reaching $59.53. The stock had a trading volume of 5,767,525 shares, compared to its average volume of 4,379,619. The stock has a market cap of $49.86 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.59 and a beta of 0.60. Dominion Energy has a 1 year low of $39.44 and a 1 year high of $61.26. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The company has a 50 day simple moving average of $57.76 and a 200 day simple moving average of $53.94.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. Dominion Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. Equities research analysts expect that Dominion Energy will post 2.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on D shares. Barclays raised their price target on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Jefferies Financial Group started coverage on Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. BMO Capital Markets raised their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Finally, Scotiabank lifted their target price on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.40.

Dominion Energy Company Profile

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.