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

Dominion Energy, Inc. (NYSE:D) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.6675 per share by the utilities provider on Thursday, March 20th. This represents a $2.67 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Friday, February 28th.

Dominion Energy has increased its dividend by an average of 2.0% annually over the last three years. Dominion Energy has a payout ratio of 74.6% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE D opened at $55.34 on Wednesday. The firm has a market cap of $46.48 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.15 and a beta of 0.60. Dominion Energy has a 1-year low of $43.53 and a 1-year high of $61.97. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $55.16 and its 200-day moving average is $56.01.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on D shares. Morgan Stanley began coverage on Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target for the company. Barclays upped 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. Scotiabank upped 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 report on Thursday, December 12th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Dominion Energy 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.