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

Dominion Energy, Inc. (NYSE:D) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.6675 per share by the utilities provider on Friday, December 20th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.49%.

Dominion Energy has decreased its dividend payment by an average of 8.2% per year over the last three years. Dominion Energy has a payout ratio of 79.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 NYSE D traded up $1.08 during mid-day trading on Thursday, hitting $59.53. The stock had a trading volume of 5,767,525 shares, compared to its average volume of 4,379,619. The company has a 50 day moving average of $57.76 and a two-hundred day moving average of $53.94. Dominion Energy has a twelve month low of $39.44 and a twelve month high of $61.26. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The firm has a market cap of $49.86 billion, a PE ratio of 30.13, a PEG ratio of 1.59 and a beta of 0.60.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Research analysts predict that Dominion Energy will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

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