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

Dominion Energy, Inc. (NYSE:D) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.6675 per share by the utilities provider on Thursday, June 20th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Friday, May 31st.

Dominion Energy has decreased its dividend by an average of 8.2% annually over the last three years. Dominion Energy has a payout ratio of 79.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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

Shares of NYSE:D opened at $52.15 on Thursday. Dominion Energy has a 52 week low of $39.18 and a 52 week high of $57.02. The company has a 50-day moving average price of $48.85 and a 200 day moving average price of $46.92. The company has a market cap of $43.68 billion, a P/E ratio of 26.88, a PEG ratio of 3.43 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the business earned $0.99 earnings per share. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Research analysts predict that Dominion Energy will post 2.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on D. BMO Capital Markets lifted their price objective on Dominion Energy from $51.00 to $52.00 and gave the company a “market perform” rating in a research report on Monday. Barclays cut their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Guggenheim dropped their price target on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Bank of America increased their target price on Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. Finally, Scotiabank dropped their price target on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $50.73.

Insider Buying and Selling at Dominion Energy

In related news, CEO Robert M. Blue purchased 21,735 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Robert M. Blue acquired 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph M. Rigby bought 2,130 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $46.94 per share, with a total value of $99,982.20. Following the purchase, the director now directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.

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.