Dominion Energy (D) Updates Q4 Earnings Guidance

Dominion Energy (NYSE:D) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.80 to $0.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.02. Dominion Energy also updated its FY 2018 guidance to $3.95-4.10 EPS.

Shares of NYSE D opened at $69.89 on Friday. Dominion Energy has a 12-month low of $61.53 and a 12-month high of $85.30. The stock has a market capitalization of $46.69 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.76 and a beta of 0.18. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.60.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. Dominion Energy had a net margin of 23.69% and a return on equity of 13.13%. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Dominion Energy will post 4.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Thursday, December 6th. Dominion Energy’s dividend payout ratio (DPR) is presently 92.78%.

D has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Dominion Energy from a hold rating to a buy rating and set a $80.00 price objective on the stock in a research note on Tuesday, September 18th. JPMorgan Chase & Co. raised shares of Dominion Energy from a neutral rating to an overweight rating and set a $78.00 price objective on the stock in a research note on Tuesday, October 9th. Wells Fargo & Co reissued a hold rating and set a $76.00 price objective (up previously from $73.00) on shares of Dominion Energy in a research note on Monday, September 17th. ValuEngine raised shares of Dominion Energy from a sell rating to a hold rating in a research note on Saturday, October 6th. Finally, Argus upped their price objective on shares of Dominion Energy from $74.00 to $79.00 and gave the company a buy rating in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $84.50.

In related news, Director John W. Harris purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average price of $71.15 per share, with a total value of $711,500.00. Following the completion of the transaction, the director now owns 17,495 shares of the company’s stock, valued at approximately $1,244,769.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

About Dominion Energy

Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.

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