Dominion Energy (NYSE:D) Releases FY24 Earnings Guidance

Dominion Energy (NYSE:D) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $2.68-2.83 for the period, compared to the consensus earnings per share estimate of $2.76. Dominion Energy also updated its FY 2024 guidance to 2.680-2.830 EPS.

Dominion Energy Price Performance

Shares of D traded down $1.44 during mid-day trading on Monday, reaching $57.55. The stock had a trading volume of 2,129,895 shares, compared to its average volume of 4,388,922. The firm has a market cap of $48.28 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.58 and a beta of 0.59. Dominion Energy has a 12 month low of $43.53 and a 12 month high of $61.97. The business has a fifty day moving average of $57.87 and a 200 day moving average of $54.14. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93.

Dominion Energy (NYSE:D) last released its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. Equities analysts predict that Dominion Energy will post 2.76 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a $0.6675 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.64%. Dominion Energy’s dividend payout ratio is currently 140.53%.

Analysts Set New Price Targets

Several analysts have recently issued reports on D shares. JPMorgan Chase & Co. upped their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Scotiabank upped their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Barclays upped their price objective on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group assumed coverage on Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Dominion Energy 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.