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

Dominion Energy, Inc. (NYSE:D) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.6675 per share by the utilities provider on Thursday, March 20th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Friday, February 28th.

Dominion Energy has increased its dividend by an average of 2.0% per year over the last three years. Dominion Energy has a dividend payout ratio of 74.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dominion Energy to earn $3.38 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 79.0%.

Dominion Energy Stock Up 4.2 %

D opened at $55.73 on Tuesday. The company has a market capitalization of $46.81 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.15 and a beta of 0.60. The firm’s fifty day moving average price is $55.20 and its two-hundred day moving average price is $55.98. Dominion Energy has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Dominion Energy will post 2.76 EPS for the current year.

Wall Street Analysts Forecast Growth

D has been the subject of several research reports. Scotiabank boosted their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley assumed coverage on Dominion Energy in a research report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 target price for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research report on Friday, November 8th. Finally, Barclays raised their target price 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. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.58.

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.