Dominion Energy (NYSE:D) Releases FY24 Earnings Guidance

Dominion Energy (NYSE:D) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.62-$2.87 for the period, compared to the consensus estimate of $2.76. Dominion Energy also updated its FY 2024 guidance to 2.620-2.870 EPS.

Dominion Energy Stock Performance

D opened at $53.55 on Thursday. The firm has a market cap of $44.85 billion, a PE ratio of 27.55, a P/E/G ratio of 1.42 and a beta of 0.58. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. The business has a fifty day simple moving average of $51.12 and a 200-day simple moving average of $49.25. Dominion Energy has a fifty-two week low of $39.18 and a fifty-two week high of $54.23.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. The business 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 7.50% and a net margin of 11.57%. Dominion Energy’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, equities analysts predict that Dominion Energy will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.99%. Dominion Energy’s dividend payout ratio is 137.63%.

Analysts Set New Price Targets

Several brokerages recently issued reports on D. Barclays cut their price objective on Dominion Energy from $50.00 to $49.00 and set an overweight rating for the company in a report on Monday, April 15th. Mizuho increased their price objective on Dominion Energy from $45.00 to $52.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Evercore ISI increased their price objective on Dominion Energy from $47.00 to $53.00 and gave the stock an in-line rating in a report on Friday, May 3rd. Wells Fargo & Company raised their target price on Dominion Energy from $51.00 to $55.00 and gave the company an equal weight rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded Dominion Energy from a sell rating to a hold rating in a report on Friday, May 10th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $51.64.

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.