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

Dominion Energy, Inc. (NYSE:D) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid 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 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. Equities 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

Dominion Energy stock traded up $2.25 during midday trading on Monday, hitting $55.73. The stock had a trading volume of 3,689,971 shares, compared to its average volume of 4,397,920. The firm’s fifty day moving average is $55.20 and its two-hundred day moving average is $55.98. 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 company has a market capitalization of $46.81 billion, a PE ratio of 19.55, a P/E/G ratio of 1.15 and a beta of 0.60. Dominion Energy has a 52-week low of $43.53 and a 52-week high of $61.97.

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

Analyst Upgrades and Downgrades

Several research firms have commented on D. Barclays upped their price target 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. Scotiabank lifted their price target on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley began coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price target on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $61.00 price objective on shares of Dominion Energy in a report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Dominion Energy presently 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.