Dominion Energy (NYSE:D) Issues FY24 Earnings Guidance

Dominion Energy (NYSE:D) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $2.68-2.83 for the period, compared to the consensus EPS estimate of $2.76. Dominion Energy also updated its FY 2024 guidance to 2.680-2.830 EPS.

Dominion Energy Price Performance

Shares of NYSE D traded down $1.40 during mid-day trading on Monday, hitting $57.59. 1,763,072 shares of the stock were exchanged, compared to its average volume of 4,387,760. The company has a market cap of $48.31 billion, a P/E ratio of 31.05, a PEG ratio of 1.58 and a beta of 0.59. The stock’s fifty day simple moving average is $57.87 and its two-hundred day simple moving average is $54.14. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. Dominion Energy has a twelve month low of $43.53 and a twelve month high of $61.97.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Dominion Energy’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Dominion Energy will post 2.76 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a $0.6675 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.64%. Dominion Energy’s payout ratio is presently 140.53%.

Wall Street Analysts Forecast Growth

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

About Dominion Energy

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.