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

Dominion Energy, Inc. (NYSE:D) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Friday, May 31st.

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

D remained flat at $52.12 during trading on Wednesday. 1,997,886 shares of the company’s stock were exchanged, compared to its average volume of 5,199,152. Dominion Energy has a twelve month low of $39.18 and a twelve month high of $57.02. The business’s 50-day simple moving average is $48.85 and its two-hundred day simple moving average is $46.92. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $43.66 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Dominion Energy will post 2.75 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on D. Evercore ISI boosted their price target on Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Bank of America upped their price objective on shares of Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. Mizuho lifted their price objective on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Scotiabank cut their target price 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. Finally, Wells Fargo & Company increased their price objective on Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.73.

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.