Dominion Energy (NYSE:D) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Dominion Energy (NYSE:D - Get Free Report) announced its earnings results on Wednesday. The utilities provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04, Zacks reports. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%.

Dominion Energy Trading Down 2.0 %

Shares of NYSE D traded down $1.14 during midday trading on Friday, reaching $55.58. 3,663,652 shares of the stock were exchanged, compared to its average volume of 4,632,855. The company has a market capitalization of $46.68 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.18 and a beta of 0.61. Dominion Energy has a 52-week low of $44.17 and a 52-week high of $61.97. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average price of $54.42 and a 200-day moving average price of $56.31.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.6675 per share. The ex-dividend date is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.80%. Dominion Energy's dividend payout ratio (DPR) is presently 93.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on D. Scotiabank upped their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a "sector perform" rating in a research note on Thursday, December 12th. Morgan Stanley began coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They set an "equal weight" rating and a $61.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $56.58.

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.