Core Points - Dominion Energy's board of directors has declared a quarterly dividend of 66.75 cents per share of common stock [1] - The dividends are scheduled to be payable on September 20, 2024, to shareholders of record as of the close of business on August 30, 2024 [1] - This marks the 386th consecutive dividend payment made by Dominion Energy or its predecessor company [1] - The last quarterly dividend was declared on May 7, 2024 [1]

Core Insights - The power sector is expected to benefit from ongoing investments aimed at enhancing electric infrastructure resilience against extreme weather and transitioning to more affordable renewable energy sources [1] Group 1: Earnings Predictions and Performance - The Zacks model indicates that a positive Earnings ESP and a Zacks Rank of 3 or better are essential for increasing the likelihood of an earnings beat [2] - Xcel Energy is predicted to achieve an earnings beat with an Earnings ESP of +3.48% and a Zacks Rank of 2 [7] - Entergy Corporation's service areas experienced above-normal temperatures, likely boosting electricity demand and revenues, despite some adverse weather impacts [18] Group 2: Weather Impact on Utilities - The second quarter saw warmer-than-normal weather across utility service territories, which is expected to positively influence top-line performance [6] - Severe weather events, including rain and hailstorms, are anticipated to have caused outages for Entergy's customers, negatively affecting its overall performance [3] Group 3: Sector Trends and Investments - The Zacks Utilities sector's second-quarter earnings are projected to increase by 9.1% year-over-year, driven by revenue growth of 1.1% and infrastructure enhancements for reliable service under extreme weather [10] - Utilities are committing to 100% clean energy and reducing coal usage, while investing in large battery storage units to ensure electricity supply during non-productive hours [9] - Continuous capital expenditures by utilities are aimed at reducing operating costs and improving efficiency through digital technology and energy efficiency programs [16] Group 4: Company-Specific Insights - Dominion Energy's second-quarter earnings are likely to benefit from regulated investments and higher sales volumes due to economic growth in Virginia and South Carolina [8] - Consolidated Edison is expected to see a positive impact on its second-quarter performance from warmer temperatures and strong rate-based growth [8] - Pinnacle West Capital's new Energy Management System is expected to enhance the integration of renewable energy and storage assets, although higher depreciation and taxes may offset some benefits [3]

The Zacks Consensus Estimate for earnings is pegged at 58 cents, indicating an increase of 9.4% from the yearago reported figure. The Zacks Consensus Estimate for second-quarter earnings per share has moved up 17.9% in the past 60 days. The Zacks Consensus Estimate for sales is pegged at $3.2 billion, which implies a year-over-year increase of 4.7%. Factors to Note However, higher DD&A expenses and O&M expenses are likely to negatively impact the company's secondquarter results. Quantitative Model Predicts ...

Coming into today, shares of the energy company had gained 5.42% in the past month. In that same time, the Utilities sector gained 0.83%, while the S&P 500 lost 1.16%. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Utility - Electric Power industry is part of the Uti ...

Dominion Energy (D) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business ...

Prior to today's trading, shares of the energy company had gained 4.47% over the past month. This has outpaced the Utilities sector's gain of 0.61% and the S&P 500's gain of 0.43% in that time. Any recent changes to analyst estimates for Dominion Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Valuation is also important, so ...

Analysts and investors alike will be keeping a close eye on the performance of Dominion Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 1, 2024. The company is expected to report EPS of $0.59, up 11.32% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $3.83 billion, showing a 0.94% escalation compared to the yearago quarter. Investors should also note that D has a PEG ratio of 1.33 right now. The PEG ...

For several years, utilities, state and federal agencies and leading technology firms have explored SMRs as the next generation of carbon-free nuclear power in the U.S. SMRs have the same reliability and environmental benefits as traditional nuclear, but with a significantly smaller footprint and lower upfront capital costs. "The Commonwealth's potential to unleash and foster a rich energy economy is limitless," said Governor Glenn Youngkin. "To meet the power demands of the future, it is imperative we cont ...

Dominion Energy (D) announced that its subsidiary, Virginia Electric and Power Company, has agreed to acquire the Kitty Hawk North Wind offshore wind lease and associated developments, which will be known as CVOW-South, from Avangrid, Inc. (AGR) for nearly $160 million. This is inclusive of a payment of about $3,000 per acre for the nearly 40,000-acre lease. After receiving the necessary approvals from the Bureau of Ocean Energy Management and the City of Virginia Beach, both companies expect to close the t ...

40,000-acre lease, currently known as Kitty Hawk North Wind, will be renamed CVOW-South and could support 800 MW of offshore wind generation capacity in the 2030s Acquisition provides optionality to deploy additional regulated offshore wind generation to serve unprecedented electric demand growth using all-of-the-above approach supportive of goals of Virginia Clean Economy Act Transaction value of ~$160 million consists of lease acquisition ($117 million) and associated development cost reimbursement ($43 m ...