Richmond, Virginia-based Dominion Energy, Inc. (D) produces and distributes energy in the U.S. It operates regulated and non-regulated electricity distribution, generation, and transmission businesses. With a market cap of $48.1 billion, Dominion Energy operates through Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy segments.
Companies worth $10 billion or more are generally described as "large-cap stocks," Dominion Energy fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the regulated electric utilities industry. Additionally, it has well-chalked plans to invest $43 billion in different projects between 2025 and 2029.
Dominion Energy is marginally down from its 52-week high of $58.13, achieved on Sep. 5. D gained 12.2% over the past three months, outpacing the S&P 500 Index’s ($SPX) 2.5% gains during the same time frame.
Over the longer term, Dominion Energy gained 22.5% over the past 52 weeks, slightly underperforming SPX’s 23.3% gains over the same time frame. However, in 2024, D gained 22.8%, outperforming SPX’s 15.2% returns on a YTD basis.
To confirm the bullish trend, D has traded above its 50-day moving average since last November with slight fluctuations and consistently above its 200-day moving average since mid-April.
Shares of Dominion Energy surged 3.7% after the release of its impressive Q2 earnings on Aug. 1. The company’s operating revenues rose 10.1% year-over-year to $3.5 billion. This growth underscores Dominion’s operational resilience, as it effectively managed to keep operating expenses low, resulting in 35.5% annual growth in income from operations, totaling $805 million.
Rival CenterPoint Energy, Inc. (CNP) has underperformed Dominion Energy. CNP stock has declined 2.6% over the past 52 weeks and 3.6% in 2024.
Among the 14 analysts covering the Dominion Energy stock, the consensus rating is a “Moderate Buy.” Although the stock is trading above its mean target price of $55.67, the Street-high target of $58 represents a marginal upside from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
