Dominion Energy: Performance Overview and Analyst Insights

Richmond, Virginia-based Dominion Energy, Inc. (D) provides regulated electricity and natural gas services. The company has a market cap of $46.9 billion and generates, distributes, and transmits electricity to various customers, including residential, commercial, industrial, and governmental.

Performance Against Market Performance

Over the past 52 weeks, Dominion Energy has underperformed relative to the broader market. Shares of D increased by 5.5%, while the S&P 500 Index ($SPX) rose 9.2%. However, year-to-date (YTD), Dominion is up 2.1%, surpassing the SPX, which has seen a 3.7% decline.

Utilities Sector Comparison

Narrowing the focus, Dominion Energy has also lagged behind the Utilities Select Sector SPDR Fund (XLU), which has seen a 14% increase over the past year and a 5.8% rise YTD.

Recent Financial Results

On May 1, Dominion Energy reported better-than-expected Q1 results, resulting in a slight uptick in its share price that day. Revenue increased by 12.2% year-over-year to $4.1 billion, exceeding consensus estimates. Additionally, adjusted operating earnings rose by 69.1% to $0.93 per share, outperforming Wall Street expectations by 20.8%. Growth in net income from the Virginia and South Carolina segments underpinned these results.

Fiscal Guidance and Earnings Projections

Dominion Energy reiterated its fiscal 2025 operating earnings guidance, estimating a range between $3.28 and $3.52 per share. For the current fiscal year, ending in December, analysts project D’s earnings per share (EPS) to grow by 22.4% year-over-year to $3.39. The company has had a mixed earnings surprise history, topping estimates in three of the last four quarters while missing on one occasion.

Analyst Ratings

Among the 18 analysts covering Dominion, the consensus rating is a “Hold,” which is determined by three “Strong Buy,” 14 “Hold,” and one “Strong Sell” ratings. This rating reflects a slightly more bearish outlook compared to two months ago, as there were no analysts recommending a “Strong Sell.”

Price Targets

On May 2, Evercore Inc. (EVR) analyst Durgesh Chopra maintained a “Hold” rating on D, setting a price target of $61, which indicates a potential upside of 10.9% from current levels. The mean price target of $60 suggests a 9.1% upside, while the Street-high price target of $69 indicates a possible upside of 25.5%.

On the date of publication, Neharika Jain did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

The views and opinions expressed in this article are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.