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

Dominion Energy, Inc. (NYSE:D) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.6675 per share by the utilities provider on Thursday, June 20th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend is Friday, May 31st.

Dominion Energy has decreased its dividend by an average of 8.2% per year over the last three years. Dominion Energy has a payout ratio of 79.2% indicating that 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 NYSE D remained flat at $52.12 during mid-day trading on Wednesday. 1,997,886 shares of the stock were exchanged, compared to its average volume of 5,199,152. The firm has a market cap of $43.66 billion, a PE ratio of 26.87, a P/E/G ratio of 3.43 and a beta of 0.59. Dominion Energy has a 1-year low of $39.18 and a 1-year high of $57.02. The business has a fifty day simple moving average of $48.85 and a 200-day simple moving average of $46.92. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Analysts predict that Dominion Energy will post 2.75 EPS for the current fiscal year.

Insider Transactions at Dominion Energy

In other Dominion Energy news, CEO Robert M. Blue acquired 21,735 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Joseph M. Rigby purchased 2,130 shares of the stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $46.94 per share, with a total value of $99,982.20. Following the purchase, the director now directly owns 8,417 shares in the company, valued at approximately $395,093.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert M. Blue acquired 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Guggenheim cut their price target on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Evercore ISI raised their price objective on Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Finally, Barclays reduced their price target on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.73.

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.