Dominion Energy (NYSE:D) Reaches New 12-Month High Following Dividend Announcement

Dominion Energy, Inc. (NYSE:D)’s stock price hit a new 52-week high during trading on Friday after the company announced a dividend. The company traded as high as $61.90 and last traded at $61.56, with a volume of 1784890 shares traded. The stock had previously closed at $59.53.

The newly announced dividend which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s payout ratio is currently 140.53%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Scotiabank raised their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays lifted their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets boosted their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group assumed coverage on Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.40.

Dominion Energy Price Performance

The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The company’s fifty day moving average price is $57.87 and its two-hundred day moving average price is $54.05. The company has a market cap of $49.49 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.56 and a beta of 0.60.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. On average, equities research analysts forecast that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Dominion Energy

Several hedge funds have recently made changes to their positions in the business. Family Firm Inc. acquired a new position in Dominion Energy during the second quarter valued at approximately $27,000. LRI Investments LLC acquired a new stake in Dominion Energy during the 1st quarter valued at $32,000. Reston Wealth Management LLC bought a new position in Dominion Energy during the third quarter worth $36,000. Triad Wealth Partners LLC acquired a new position in shares of Dominion Energy in the second quarter valued at $33,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Dominion Energy in the second quarter valued at about $35,000. 73.04% of the stock is owned by institutional investors.

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.