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

Dominion Energy, Inc. (NYSE:D) declared a quarterly dividend on Thursday, October 31st,RTT News reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.6675 per share by the utilities provider on Friday, December 20th. This represents a $2.67 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Friday, November 29th.

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 79.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 D opened at $59.13 on Wednesday. The company’s fifty day moving average is $58.09 and its 200-day moving average is $54.92. Dominion Energy has a 12 month low of $43.53 and a 12 month high of $61.97. The firm has a market cap of $49.67 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.56 and a beta of 0.59. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on D shares. Jefferies Financial Group started coverage on shares of Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. 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. Finally, BMO Capital Markets raised their price target on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Dominion Energy presently has an average rating of “Hold” and a consensus price target of $55.91.

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.