Dominion Energy Inc (NYSE:D) declared a quarterly dividend on Wednesday, July 31st, RTT News reports. Stockholders of record on Friday, September 6th will be paid a dividend of 0.9175 per share by the utilities provider on Friday, September 20th. This represents a $3.67 annualized dividend and a dividend yield of 4.92%.
Dominion Energy has raised its dividend payment by an average of 8.8% per year over the last three years and has raised its dividend every year for the last 10 years. Dominion Energy has a dividend payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Dominion Energy to earn $4.41 per share next year, which means the company should continue to be able to cover its $3.67 annual dividend with an expected future payout ratio of 83.2%.
Shares of D stock traded down $0.42 on Wednesday, hitting $74.62. The stock had a trading volume of 4,331,949 shares, compared to its average volume of 2,928,378. The stock has a market capitalization of $60.30 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.27. The business has a 50 day simple moving average of $76.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.61 and a quick ratio of 0.44. Dominion Energy has a 52-week low of $67.41 and a 52-week high of $79.47.
A number of research firms have commented on D. Credit Suisse Group set a $77.00 price objective on shares of Dominion Energy and gave the company a “hold” rating in a research note on Monday, April 22nd. TheStreet downgraded shares of Dominion Energy from a “b” rating to a “c+” rating in a research note on Friday, May 3rd. ValuEngine downgraded shares of Dominion Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Zacks Investment Research downgraded shares of Dominion Energy from a “hold” rating to a “sell” rating and set a $83.00 price objective on the stock. in a research note on Thursday, July 4th. Finally, Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $80.00 in a research note on Thursday, June 13th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $78.91.
About Dominion Energy
Dominion Energy, Inc produces and transports energy. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities.
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