Fintel reports that on September 13, 2023, RBC Capital maintained coverage of Dominion Energy (NYSE:D) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 21.15% Upside
As of August 31, 2023, the average one-year price target for Dominion Energy is 57.63. The forecasts range from a low of 44.44 to a high of $74.55. The average price target represents an increase of 21.15% from its latest reported closing price of 47.57.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dominion Energy is 17,192MM, a decrease of 6.29%. The projected annual non-GAAP EPS is 4.31.
Dominion Energy Declares $0.67 Dividend
On August 2, 2023 the company declared a regular quarterly dividend of $0.67 per share ($2.67 annualized). Shareholders of record as of September 1, 2023 will receive the payment on September 20, 2023. Previously, the company paid $0.67 per share.
At the current share price of $47.57 / share, the stock's dividend yield is 5.61%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.18%, the lowest has been 2.88%, and the highest has been 6.33%. The standard deviation of yields is 0.77 (n=235).
The current dividend yield is 1.86 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.29%.
What is the Fund Sentiment?
There are 1991 funds or institutions reporting positions in Dominion Energy. This is a decrease of 158 owner(s) or 7.35% in the last quarter. Average portfolio weight of all funds dedicated to D is 0.28%, a decrease of 13.91%. Total shares owned by institutions decreased in the last three months by 0.48% to 709,762K shares. 
The put/call ratio of D is 0.44, indicating a bullish outlook.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 27,370K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 24,542K shares, representing an increase of 10.33%. The firm decreased its portfolio allocation in D by 0.51% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 26,059K shares representing 2.73% ownership of the company. In it's prior filing, the firm reported owning 25,874K shares, representing an increase of 0.71%. The firm decreased its portfolio allocation in D by 13.93% over the last quarter.
Jpmorgan Chase holds 21,434K shares representing 2.25% ownership of the company. In it's prior filing, the firm reported owning 17,980K shares, representing an increase of 16.11%. The firm increased its portfolio allocation in D by 684.45% over the last quarter.
Price T Rowe Associates holds 20,851K shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 18,590K shares, representing an increase of 10.84%. The firm increased its portfolio allocation in D by 118.19% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 19,903K shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 19,443K shares, representing an increase of 2.31%. The firm decreased its portfolio allocation in D by 14.12% over the last quarter.
Dominion Energy Background Information
(This description is provided by the company.)
More than 7 million customers in 16 states?energize their homes and businesses with electricity or natural gas from Dominion Energy, headquartered in?Richmond, Va.?The company is committed to sustainable, reliable, affordable and safe energy?and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050.
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