Monthly Stock Report: Dominion Energy, Inc. (Symbol: D)
Publication Date: September 22, 2024
Company Overview
Dominion Energy, Inc., headquartered in Richmond, Virginia, is a significant player in the utilities sector, primarily within the regulated electric industry. Serving approximately 2.8 million customers through its Dominion Energy Virginia segment and an additional 0.8 million customers in South Carolina, the company also provides natural gas to 0.4 million customers. The Contracted Energy segment emphasizes long-term renewable energy and natural gas generation contracts, enhancing Dominion Energy’s sustainable footprint. With a robust generating capacity of around 29.5 gigawatts and an extensive network for transmission and distribution, the company is crucial to the energy landscape in the United States.
Financial Performance
Dominion Energy’s total revenue stands at an impressive $14.46 billion, reflecting stability and growth potential within a heavily regulated environment. The company’s substantial revenue illustrates its ability to maintain reliable services while navigating regulatory frameworks, positively impacting its market valuation. Currently trading at $57.93, just below its fifty-two week high of $58.94 and significantly above its low of $39.18, the stock shows strong momentum. Market analysts have set a target high price of $59.00, with a mean target at $56.70, indicating a cautiously optimistic outlook. The current recommendation stands at “hold,” with an overall mean recommendation score of 2.8 based on insights from 13 analysts, suggesting stability without a strong incentive to buy or sell.
Investor Insights
With 838,937,984 shares outstanding and only 16,355,781 shares shorted (approximately 0.0195% of the float), investor sentiment remains positive. The stock’s current price exceeds its fifty-day moving average of $55.1456, a signal of bullish trends. The low short interest reflects confidence in Dominion Energy’s performance, indicating a stable environment for investors. While the high target price suggests growth potential, the mixed data on profitability, highlighted by the unavailability of EBITDA, urges investors to consider current market conditions carefully. Overall, maintaining a “hold” position is advisable as investors await clearer signals for future movements in this evolving landscape.
| Metric | Value |
|---|---|
| Market Cap | $48.6b |
| Total Debt | $42.3b |
| Total Cash | $139.0m |
| Shares Outstanding | 838.9m |
| Float Shares | 837.1m |
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