Dominion Energy, Inc. (D) to Issue Quarterly Dividend of $0.67 on December 20th

Dominion Energy, Inc. (NYSE:D) announced 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 dividend on an annualized basis 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% annually over the last three years. Dominion Energy has a dividend 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. 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 Price Performance

D opened at $59.13 on Wednesday. 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. Dominion Energy has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The company’s 50-day moving average price is $58.09 and its 200 day moving average price is $54.92. 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 released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. Dominion Energy’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, sell-side analysts expect that Dominion Energy will post 2.76 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on D shares. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a report on Friday, November 8th. Scotiabank increased their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Finally, Barclays increased their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and an average target price of $55.91.

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.