Dominion Energy (NYSE:D) Releases FY24 Earnings Guidance

Dominion Energy (NYSE:D) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $2.68-2.83 for the period, compared to the consensus EPS estimate of $2.76. Dominion Energy also updated its FY 2024 guidance to 2.680-2.830 EPS.

Dominion Energy Stock Performance

D stock traded down $1.14 during midday trading on Monday, hitting $57.85. The stock had a trading volume of 2,332,348 shares, compared to its average volume of 4,390,064. The firm has a market capitalization of $48.53 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 1.58 and a beta of 0.59. Dominion Energy has a 52 week low of $43.53 and a 52 week high of $61.97. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. The stock has a 50-day simple moving average of $57.87 and a 200 day simple moving average of $54.14.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Dominion Energy will post 2.76 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.62%. Dominion Energy’s dividend payout ratio is currently 140.53%.

Analysts Set New Price Targets

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

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.