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

Key Points

• Dominion Energy Inc. has declared a quarterly dividend of $0.67 per share, with investors of record set to receive it on September 20th, representing an annualized dividend of $2.67 and a yield of 4.60%.
• The company reported a 12.2% increase in quarterly revenue year-over-year, achieving $4.08 billion and beating analysts' estimates, alongside an earnings per share (EPS) of $0.93.
• Research analysts have given Dominion Energy an average rating of "Hold", with the current average target price set at $58.88 amidst varying analyst projections and recent stock performance fluctuations.

Dominion Energy Inc. (NYSE:D - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Friday, September 5th will be paid a dividend of 0.6675 per share by the utilities provider on Saturday, September 20th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, September 5th.

Dominion Energy has a dividend payout ratio of 74.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dominion Energy to earn $3.60 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 74.2%.

Dominion Energy Stock Up 1.3%

D stock traded up $0.77 during trading on Monday, hitting $61.18. 822,441 shares of the company's stock traded hands, compared to its average volume of 5,319,193. The firm has a market capitalization of $52.17 billion, a P/E ratio of 21.08, a PEG ratio of 1.31 and a beta of 0.57. The business has a fifty day simple moving average of $56.69 and a two-hundred day simple moving average of $55.39. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Dominion Energy has a 1 year low of $48.07 and a 1 year high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.81%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. Sell-side analysts anticipate that Dominion Energy will post 3.39 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on D. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Morgan Stanley lowered their target price on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $58.88.

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.