Dominion Energy Inc (D) Declares Dividend Increase – $0.84 Per Share
Dominion Energy Inc (NYSE:D) announced a quarterly dividend on Friday, January 26th, RTT News reports. Investors of record on Friday, March 2nd will be given a dividend of 0.835 per share by the utilities provider on Tuesday, March 20th. This represents a $3.34 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Thursday, March 1st. This is an increase from Dominion Energy’s previous quarterly dividend of $0.77.
Dominion Energy has increased its dividend payment by an average of 8.1% annually over the last three years and has increased its dividend every year for the last 9 years. Dominion Energy has a payout ratio of 85.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Dominion Energy to earn $4.31 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 71.5%.
Shares of Dominion Energy (NYSE:D) opened at $75.52 on Friday. The firm has a market cap of $47,427.55, a price-to-earnings ratio of 15.38, a P/E/G ratio of 2.57 and a beta of 0.20. Dominion Energy has a fifty-two week low of $72.80 and a fifty-two week high of $85.30. The company has a current ratio of 0.47, a quick ratio of 0.29 and a debt-to-equity ratio of 1.67.
D has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Dominion Energy from a “neutral” rating to an “overweight” rating and set a $82.00 price target for the company in a report on Thursday, December 14th. Zacks Investment Research raised shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Wednesday, January 17th. Bank of America set a $87.00 price target on shares of Dominion Energy and gave the company a “buy” rating in a report on Wednesday, January 3rd. Hilliard Lyons raised shares of Dominion Energy from a “neutral” rating to a “buy” rating and set a $86.00 price target for the company in a report on Tuesday, January 30th. Finally, Gabelli reaffirmed a “hold” rating on shares of Dominion Energy in a report on Wednesday, November 1st. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $82.09.
In other Dominion Energy news, Director John W. Harris sold 11,254 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $79.94, for a total transaction of $899,644.76. Following the transaction, the director now directly owns 13,282 shares in the company, valued at approximately $1,061,763.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Harris sold 2,665 shares of the stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $80.60, for a total transaction of $214,799.00. Following the transaction, the director now owns 13,282 shares in the company, valued at $1,070,529.20. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.
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Dominion Energy Company Profile
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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