Dominion Energy, Inc. (D) To Go Ex-Dividend on May 31st

Dominion Energy, Inc. (NYSE:D) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid 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 5.05%. The ex-dividend date of this dividend is Friday, May 31st.

Dominion Energy has decreased its dividend payment by an average of 8.2% annually 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 fall. 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

NYSE D traded up $0.72 during trading on Thursday, reaching $52.87. The company’s stock had a trading volume of 1,107,754 shares, compared to its average volume of 5,168,348. The business’s fifty day moving average price is $48.85 and its 200-day moving average price is $46.92. Dominion Energy has a twelve month low of $39.18 and a twelve month high of $57.02. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. The firm has a market cap of $44.28 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 3.43 and a beta of 0.59.

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

Insider Buying and Selling at Dominion Energy

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

Analyst Ratings Changes

D has been the subject of a number of research analyst reports. Bank of America increased their target price on shares of Dominion Energy from $40.00 to $43.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. 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 report on Monday, April 22nd. Guggenheim reduced their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Wells Fargo & Company lifted 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. Finally, Mizuho upped their target price on shares of Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.73.

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.