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

Dominion Energy, Inc. (NYSE:D) declared a quarterly dividend on Wednesday, July 31st, RTT News reports. Investors of record on Friday, August 30th will be given a dividend of 0.6675 per share by the utilities provider on Friday, September 20th. This represents a $2.67 annualized dividend and a yield of 5.00%.

Dominion Energy has decreased its dividend by an average of 8.2% annually over the last three years. Dominion Energy has a payout ratio of 78.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Up 0.4 %

Shares of NYSE:D opened at $53.44 on Thursday. The business’s 50-day moving average is $51.12 and its 200-day moving average is $49.25. Dominion Energy has a 1 year low of $39.18 and a 1 year high of $54.23. The company has a market capitalization of $44.76 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 1.42 and a beta of 0.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on D. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $43.00 to $54.00 in a report on Friday, May 10th. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. BMO Capital Markets decreased their price target on Dominion Energy from $52.00 to $51.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Barclays reduced their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Finally, Wells Fargo & Company lifted their target price on Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.64.

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.