Dominion Energy, Inc. (D) to Issue Quarterly Dividend of $0.67 on June 20th

Dominion Energy, Inc. (NYSE:D) declared a quarterly dividend on Wednesday, May 7th, RTT News reports. Stockholders of record on Thursday, May 29th will be paid a dividend of 0.6675 per share by the utilities provider on Friday, June 20th. This represents a $2.67 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 29th.

Dominion Energy has raised its dividend payment by an average of 2.0% per year over the last three years. Dominion Energy has a payout ratio of 74.6% indicating that 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 Performance

Shares of D opened at $56.32 on Tuesday. The stock has a market capitalization of $48.03 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.22 and a beta of 0.57. Dominion Energy has a 12 month low of $47.99 and a 12 month high of $61.97. The firm has a fifty day simple moving average of $54.16 and a 200 day simple moving average of $54.97. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter last year, the company earned $0.55 EPS. Dominion Energy’s revenue for the quarter was up 12.2% compared to the same quarter last year. Research analysts forecast that Dominion Energy will post 3.39 EPS for the current fiscal year.

Institutional Trading of Dominion Energy

Institutional investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its position in shares of Dominion Energy by 8.3% during the 1st quarter. Empowered Funds LLC now owns 17,571 shares of the utilities provider’s stock valued at $985,000 after acquiring an additional 1,344 shares during the period. Brighton Jones LLC lifted its position in Dominion Energy by 64.3% during the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 3,553 shares during the period. Intech Investment Management LLC grew its stake in Dominion Energy by 71.2% during the first quarter. Intech Investment Management LLC now owns 30,460 shares of the utilities provider’s stock worth $1,708,000 after buying an additional 12,663 shares in the last quarter. Finally, Woodline Partners LP grew its stake in Dominion Energy by 40.7% during the first quarter. Woodline Partners LP now owns 70,968 shares of the utilities provider’s stock worth $3,979,000 after buying an additional 20,522 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Argus raised shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. Morgan Stanley dropped their price objective on Dominion Energy from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 22nd. UBS Group lifted their target price on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $52.00 price target (down previously from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Dominion Energy presently has an average rating of “Hold” and a consensus price target of $58.63.

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.