Dominion Energy Inc. (NYSE:D) Announces $0.67 Quarterly Dividend

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 $2.67 annualized dividend and a yield of 4.60%.

Dominion Energy has a dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

D traded down $0.15 during trading on Thursday, hitting $58.10. The company's stock had a trading volume of 3,630,040 shares, compared to its average volume of 5,296,960. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $49.55 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.27 and a beta of 0.56. The business's fifty day simple moving average is $56.56 and its 200 day simple moving average is $55.29. Dominion Energy has a twelve month low of $48.07 and a twelve month high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.11. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.95 billion. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. Dominion Energy's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities research analysts forecast that Dominion Energy will post 3.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley decreased their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. raised their price objective on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Dominion Energy has an average rating of "Hold" and an average target price of $58.88.

Hedge Funds Weigh In On Dominion Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Dominion Energy by 64.3% in the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock valued at $489,000 after purchasing an additional 3,553 shares during the last quarter. Empowered Funds LLC lifted its holdings in Dominion Energy by 8.3% during the 1st quarter. Empowered Funds LLC now owns 17,571 shares of the utilities provider's stock worth $985,000 after purchasing an additional 1,344 shares in the last quarter. Woodline Partners LP boosted its stake in Dominion Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 70,968 shares of the utilities provider's stock worth $3,979,000 after purchasing an additional 20,522 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Dominion Energy by 71.2% during the 1st quarter. Intech Investment Management LLC now owns 30,460 shares of the utilities provider's stock valued at $1,708,000 after buying an additional 12,663 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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