Dominion Energy (NYSE:D) Updates 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 Trading Down 1.9 %

D traded down $1.14 during trading on Monday, hitting $57.85. 2,332,348 shares of the stock were exchanged, compared to its average volume of 4,390,064. Dominion Energy has a 1 year low of $43.53 and a 1 year high of $61.97. The firm has a 50 day simple moving average of $57.87 and a 200 day simple moving average of $54.14. The firm has a market cap of $48.53 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 1.58 and a beta of 0.59. 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 (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. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share. As a group, equities analysts expect that Dominion Energy will post 2.76 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 140.53%.

Wall Street Analysts Forecast Growth

D has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. BMO Capital Markets boosted their price target on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Barclays boosted their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price target for the company. Finally, Scotiabank boosted their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target 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.