Dominion Resources said on May 10, 2023 that its board of directors declared a regular quarterly dividend of $0.67 per share ($2.67 annualized). Previously, the company paid $0.67 per share.
Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 20, 2023.
At the current share price of $55.46 / share, the stock's dividend yield is 4.81%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.16%, the lowest has been 2.88%, and the highest has been 6.33%. The standard deviation of yields is 0.75 (n=236).
The current dividend yield is 0.87 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.74. 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%.
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What is the Fund Sentiment?
There are 2167 funds or institutions reporting positions in Dominion Resources. This is a decrease of 7 owner(s) or 0.32% in the last quarter. Average portfolio weight of all funds dedicated to D is 0.34%, an increase of 3.57%. Total shares owned by institutions increased in the last three months by 2.37% to 707,278K shares. 
The put/call ratio of D is 0.49, indicating a bullish outlook.
Analyst Price Forecast Suggests 14.70% Upside
As of May 10, 2023, the average one-year price target for Dominion Resources is 63.61. The forecasts range from a low of 54.54 to a high of $74.55. The average price target represents an increase of 14.70% from its latest reported closing price of 55.46.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dominion Resources is 17,192MM, a decrease of 5.26%. The projected annual non-GAAP EPS is 4.31.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 25,336K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 24,844K shares, representing an increase of 1.94%. The firm decreased its portfolio allocation in D by 16.44% over the last quarter.
Massachusetts Financial Services holds 24,542K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 23,147K shares, representing an increase of 5.69%. The firm decreased its portfolio allocation in D by 85.47% over the last quarter.
Capital Research Global Investors holds 19,691K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 21,863K shares, representing a decrease of 11.03%. The firm decreased its portfolio allocation in D by 26.49% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 19,263K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 18,871K shares, representing an increase of 2.03%. The firm decreased its portfolio allocation in D by 16.56% over the last quarter.
Price T Rowe Associates holds 18,664K shares representing 2.23% ownership of the company. In it's prior filing, the firm reported owning 30,771K shares, representing a decrease of 64.86%. The firm decreased its portfolio allocation in D by 47.15% 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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
