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 earnings per share guidance of $2.68-2.83 for the period, compared to the consensus earnings per share 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 $1.44 during trading hours on Monday, reaching $57.55. The stock had a trading volume of 2,129,895 shares, compared to its average volume of 4,388,922. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The stock has a market capitalization of $48.28 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.58 and a beta of 0.59. Dominion Energy has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. 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 issued 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. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. Analysts predict that Dominion Energy will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.64%. The ex-dividend date is Friday, November 29th. Dominion Energy’s payout ratio is 140.53%.

Analysts Set New Price Targets

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

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.