Dominion Energy (NYSE:D) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Dominion Energy (NYSE:D) posted its earnings results on Wednesday. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04, Zacks reports. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%.

Dominion Energy Trading Up 0.7 %

Shares of NYSE D traded up $0.37 during midday trading on Thursday, reaching $56.30. 148,627 shares of the stock were exchanged, compared to its average volume of 4,497,900. The company has a 50 day simple moving average of $54.44 and a 200 day simple moving average of $56.27. The stock has a market capitalization of $47.29 billion, a P/E ratio of 19.78, a PEG ratio of 1.18 and a beta of 0.61. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy has a twelve month low of $44.16 and a twelve month high of $61.97.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.74%. Dominion Energy’s dividend payout ratio is currently 93.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on D. Morgan Stanley began coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research note on Friday, November 8th. Finally, Scotiabank raised their price target on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Dominion Energy currently has an average rating of “Hold” and an average price target of $56.58.

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.