NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of  Dominion Energy, Inc. ("Dominion" or the "Company") (NYSE: D). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Dominion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On February 3, 2025, Do ...

Shares of Dominion Energy (D -4.39%) were moving lower today after the Virginia-based utility company provided an update on an offshore wind project, showing that it would be more expensive than originally planned.As of 1:04 p.m. ET, the stock was down 4.6% on the news. Dominion will pay up for wind powerIn a press release last night, Dominion said its Coastal Virginia Offshore Wind (CVOW) project was now about 50% finished and remains on track for completion at the end of 2026.While that was the good news, ...

Dominion Energy (D) closed the latest trading day at $53.65, indicating a -0.07% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.83%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.45%.Prior to today's trading, shares of the energy company had gained 0.19% over the past month. This has outpaced the Utilities sector's loss of 6.06% and the S&P 500's loss of 3.31% in that time.Investors will be eagerly watching for the performan ...

Core Insights - The demand for electricity from data centers has transitioned from speculation to solidified contracts, indicating a strong growth trajectory for Dominion [1][12][58] - The regulatory environment is favorable for utilities, allowing them to be the primary source of incremental power generation, which supports Dominion's growth plans [2][5][16] - Dominion is making significant progress on the Coast of Virginia Offshore Wind (CVOW) project, which is expected to enhance its position in the offshore wind market [6][54] Demand and Contracts - Approximately 8 GW of data center capacity has entered into electric service agreements with Dominion, ensuring that the utility has customers for its incremental power generation [14][48] - The financial structure of these agreements places the burden of withdrawal on the data centers, further securing Dominion's revenue stream [2][12] Regulatory Environment - The Federal Energy Regulatory Commission (FERC) has been supportive of utilities, rejecting requests for colocation that could shift costs to residential consumers [4][51] - Recent rulings from the Public Service Commission of South Carolina and the North Carolina Utilities Commission have authorized returns on equity (ROE) of 9.94% and 9.95%, respectively, aiding Dominion's growth [16][52] Financial Outlook - Dominion has projected a capital investment of $43 billion between 2025 and 2029, with expectations that this figure may increase due to solidified demand [8][44] - The company is generating a nearly 400 basis point spread between its cost of equity and the allotted ROE, which is expected to lead to significant earnings accretion [9][33] Offshore Wind Development - Monopile driving for the CVOW project has commenced, with 78 successfully installed as of October 31, 2023, and the project is on track for completion by the end of 2026 [6][55] - The levelized cost of energy for the CVOW project has decreased to $56/MWh from an initial estimate of $80-$90, indicating improved project economics [55] Market Position and Growth - Dominion is positioned to become a leader in offshore wind energy in the U.S., with a diversified energy generation portfolio that includes nuclear, natural gas, and solar [27][54] - The anticipated growth rate for Dominion is expected to expand into the high single digits, reflecting the increasing demand and successful project execution [44][35]

Group 1 - Dominion Energy has gained approximately 12.7% year-to-date, outperforming the Utilities sector average gain of about 9.2% [3] - The Zacks Rank for Dominion Energy is currently 2 (Buy), indicating a favorable outlook based on earnings estimate revisions [2][6] - The consensus estimate for Dominion Energy's full-year earnings has increased by 0.1% over the past quarter, reflecting improved analyst sentiment [6] Group 2 - Dominion Energy is part of the Utility - Electric Power industry, which includes 60 companies and has an average gain of 12.4% this year, indicating that Dominion is performing well within its industry [8] - Entergy, another stock in the Utilities sector, has significantly outperformed with a year-to-date return of 47.2% [7] - The Utilities sector, which includes 105 individual stocks, currently holds a Zacks Sector Rank of 8, suggesting a competitive environment [5]

Group 1 - The article expresses a negative sentiment towards certain companies, describing them as boring due to their heavily regulated revenue streams and capital-intensive nature [1] - It highlights that these companies are mostly dependent on debt, which may pose challenges for their financial stability [1] Group 2 - There is no specific investment advice or recommendations provided in the article, emphasizing that past performance does not guarantee future results [2] - The article clarifies that the views expressed may not reflect those of the platform as a whole, indicating a diversity of opinions among contributors [2]

Core Viewpoint - The article discusses the potential investment opportunities in utility stocks, particularly Dominion Energy, amidst a prevailing narrative of higher inflation and interest rates following the recent election [2][3][4]. Group 1: Dominion Energy Overview - Dominion Energy, based in Virginia, is positioned to benefit from the data-center boom supporting AI growth, with a projected doubling of power demand by 2039 [7]. - The company serves 4.5 million electricity and gas customers across 13 states, making it a significant player in the utility sector [7]. - The stock currently offers a yield of 4.9%, which is more than four times the typical S&P 500 stock yield of 1.2% [8]. Group 2: Stock Performance and Dividend Insights - The stock has experienced a selloff, which is viewed as overdone, especially as it has lagged behind payout growth [9]. - The dividend cut in 2020 was attributed to excessive debt from an acquisition spree, which negatively impacted investor sentiment [9][10]. - The current yield of 4.9% is above its five-year average of 4.5%, presenting a favorable entry point for investors [11]. Group 3: Investment Strategy and CEFs - The article suggests that utility stocks, including Dominion, are attractive as "bond proxies" in the current market environment [5]. - Closed-end funds (CEFs) are highlighted as a way to gain exposure to utility stocks, with average yields around 8% [12]. - Two specific utility CEFs, Cohen & Steers Infrastructure Fund (UTF) yielding 7.5% and Reaves Utility Income Fund (UTG) yielding 6.9%, are recommended for the watch list [13][14]. Group 4: Market Positioning - Both Dominion and the mentioned CEFs have seen recent declines, but the current discounts and premiums suggest a strategic buying opportunity when market conditions improve [15].

Industry Overview - The Zacks Utilities sector includes companies providing essential services such as water, sewage, electricity, and natural gas, characterized as a defensive industry due to stable income sources and minimal economic impact [1] - Utility companies benefit from low demand variation, new electric rates, customer additions, cost management, and energy-efficiency programs [1] Investment Characteristics - Regular dividends, bonus shares, share repurchases, and price increases offer investors returns, making established utility companies attractive for consistent income [2] - Utilities are often viewed as alternatives to bonds due to their stable performance and regular dividend payments, which tend to be less volatile than other stocks [2] Earnings Growth - The utility sector is projected to experience a 9.1% earnings growth in Q4 2024, with continued momentum expected in the first half of 2025 [3] Interest Rate Impact - Utilities carry significant debt due to capital-intensive infrastructure, making them sensitive to market interest rate changes; recent Fed rate cuts are expected to improve margins and profitability for these companies [4] Renewable Energy Transition - The U.S. electric power sector is shifting towards cleaner energy sources, with renewable energy expected to account for 23% of electricity generation in 2024 and 25% in 2025 [5] - A 2% increase in electricity sales is anticipated this winter, driven by a 3% rise in residential sales due to colder weather [5] Promising Utility Stocks - New Jersey Resources (NJR), Dominion Energy (D), and Evergy (EVRG) have outperformed the Zacks Utilities sector in the past six months, with ongoing investments expected to enhance revenue and free cash flow [6] - NJR has a dividend yield of 3.78%, with a projected 5.8% EPS growth for fiscal 2025, and has gained 13.9% over the past six months [10] - Dominion Energy plans to invest $9.8 billion in 2024 and $43 billion from 2025 to 2029, with a current dividend yield of 4.99% and a projected 22.9% EPS growth for 2025 [11][12] - Evergy targets $16.2 billion in capital investments from 2025 to 2029, with a current dividend yield of 4.35% and a projected 4.9% EPS growth for 2025 [13]

Core Points - Dominion Energy Virginia is promoting energy-saving tips and programs to assist customers in managing their energy bills during winter months [1][2] - The company emphasizes the importance of energy efficiency and offers various programs to help customers save on energy costs and provide bill payment assistance [4][7] Energy-Saving Tips - Customers are advised to manage their thermostat settings, ideally keeping it at 68° or lower for comfort [2] - Regular replacement of air filters is recommended to prevent increased energy usage and maintain air quality [2] - Water heater temperature should be set to 120°, unless otherwise specified by the manufacturer [2] - Attic insulation should be at least 12 inches deep, with R-38 or higher insulation recommended [2] - Sealing drafts around windows and doors is crucial for energy conservation [2] Energy-Saving Programs - Dominion Energy offers Virtual Energy Audits to help customers improve home energy efficiency, along with a free energy savings kit [4] - The Budget Billing program allows customers to avoid seasonal fluctuations in their power bills by averaging their usage over the past 12 months [5] - Energy Usage Alerts can be set up to notify customers when their energy usage exceeds a predetermined threshold, allowing for timely conservation efforts [6] Bill Payment Assistance - The Percentage of Income Payment Plan (PIPP) caps monthly power bills for eligible low-income customers at 6-10% of their income [7] - The EnergyShare program provides up to $600 in bill payment assistance from October 1 to May 31, available to anyone in need [8] - A comprehensive list of customer assistance options is available through Dominion Energy's website or by calling their support line [9]

Core Points - Diane Leopold, executive vice president and chief operating officer of Dominion Energy, will retire on June 1, 2025, after a 36-year career in the energy industry, with 30 years at Dominion Energy [1][2] - Ed Baine will take over utility and contracted energy responsibilities, becoming president-Utility Operations and Dominion Energy Virginia, while Eric Carr will become chief nuclear officer and president-Nuclear Operations and Contracted Energy [1][4] - Baine currently oversees operations for 2.8 million customer accounts in Virginia and northeast North Carolina, and will also manage Dominion Energy South Carolina starting January 1, 2025 [4] - Eric Carr, who joined Dominion Energy in 2023, oversees nuclear operations at four stations and will add responsibility for the Contracted Energy business segment on January 1, 2025 [6][7] - Dominion Energy provides regulated electricity service to 3.6 million homes and businesses across Virginia, North Carolina, and South Carolina, and is a leading developer of offshore wind and solar power [8]