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

Dominion Energy, Inc. (NYSE:D) declared 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 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date 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 dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

D opened at $55.73 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock has a market cap of $46.81 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.15 and a beta of 0.60. Dominion Energy has a 12-month low of $43.53 and a 12-month high of $61.97. The business has a 50 day moving average of $55.20 and a 200-day moving average of $55.98.

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

Analyst Upgrades and Downgrades

D has been the topic of several recent research reports. Scotiabank raised their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $61.00 target price on shares of Dominion Energy in a research report on Friday, November 8th. Barclays boosted their price target on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley assumed coverage on shares of Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.