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Dominion Energy
(NYSE:D)
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Rating:61Neutral
Price Target:
$72.00
â–²(15.35% Upside)
Action:Reiterated
Date:05/22/26
The score is held back primarily by persistently negative free cash flow and weak cash conversion despite solid profitability and improved leverage. Technicals are supportive with strong trend/momentum but look near overbought, while valuation is mixed (good yield, moderate P/E). The earnings call was broadly constructive with reaffirmed guidance and strong project execution progress, but merger closing risk and CVOW/regulatory cost and timing exposures remain meaningful.
Positive Factors
Regulated rate‑base business
Dominion’s core earnings derive from regulated electric and gas service where state regulators permit recovery of prudently incurred costs and an allowed return on invested capital. That rate‑base model produces predictable, durable cash flows and supports multi‑year capital deployment and earnings visibility.
Negative Factors
Deeply negative free cash flow
Sustained negative free cash flow reflects heavy capital spending outpacing operating cash generation. This structural cash deficit increases reliance on external financing, limits internal funding for dividends or share actions, and can constrain capital allocation flexibility if market financing tightens.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated rate‑base business
Dominion’s core earnings derive from regulated electric and gas service where state regulators permit recovery of prudently incurred costs and an allowed return on invested capital. That rate‑base model produces predictable, durable cash flows and supports multi‑year capital deployment and earnings visibility.
Read all positive factors
Dominion Energy Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue by different business units, highlighting which segments drive growth and profitability, and where there may be challenges or opportunities for expansion.
Breaks down revenue by different business units, highlighting which segments drive growth and profitability, and where there may be challenges or opportunities for expansion.
Data provided by:
The Fly
The FlyDominion Energy (D) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$60.17B
Dividend Yield4.59%
Average Volume (3M)9.01M
Price to Earnings (P/E)20.2
Beta (1Y)0.13
Revenue Growth19.15%
EPS Growth27.09%
CountryUS
Employees14,700
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)3.40
Shares Outstanding879,512,500
10 Day Avg. Volume7,820,826
30 Day Avg. Volume9,014,612
Financial Highlights & Ratios
PEG Ratio0.41
Price to Book (P/B)1.72
Price to Sales (P/S)3.03
P/FCF Ratio-6.87
Enterprise Value/Market Cap1.85
Enterprise Value/Revenue6.32
Enterprise Value/Gross Profit12.79
Enterprise Value/Ebitda14.14
Forecast
1Y Price Target
$68.90Price Target Upside10.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)3.59
Revenue Forecast (FY)$18.04B
Dominion Energy Business Overview & Revenue Model
Company Description
Headquartered in Richmond, Virginia, Dominion Energy, Inc., founded in 1983 (and formerly known as Dominion Resources, Inc.), is a prominent American energy firm primarily engaged in the generation and supply of power across the United States. The...
How the Company Makes Money
Dominion Energy makes money primarily through regulated utility revenues from providing electricity and natural gas service to customers in territories where rates are set through state regulatory frameworks. A large portion of earnings typically ...
Dominion Energy Earnings Call Summary
Earnings Call Date:May 01, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and financial picture: strong Q1 adjusted earnings, reaffirmed guidance, robust balance sheet metrics (FFO-to-debt >15%), accelerating data center demand, and major execution progress on the CVOW project (first power, >75% complete, fabrication and installation cadence improving). Key risks are acknowledged and limited in scope today — notably potential steel/aluminum tariff impacts (~$200M estimate), transmission allocation uncertainties, modest remaining contingency ($123M) versus potential cost exposures, schedule risk if turbine installation extends beyond July 2027 (estimated $150–$200M per quarter), and regulatory/rate-case timing in SC, NC and the open outcome for Millstone recontracting. Overall, the highlights materially outweigh the lowlights, with management signaling confidence in execution, capital plan discipline, and supportive regulatory/policy tailwinds (e.g., VA storage legislation).Positive Updates
Strong First Quarter Earnings
Operating earnings of $0.95 per share in Q1 2026 versus GAAP earnings of $0.69 per share, indicating solid adjusted performance and management reaffirmed prior guidance.
Negative Updates
Tariff and Supply-Chain Risk (Steel/Aluminum 232 Tariffs)
Pending steel and aluminum tariff developments could add an estimated ~$200 million of project cost exposure to CVOW; outcome depends on further agency guidance and supplier information.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong First Quarter Earnings
Operating earnings of $0.95 per share in Q1 2026 versus GAAP earnings of $0.69 per share, indicating solid adjusted performance and management reaffirmed prior guidance.
Read all positive updates
Company Guidance
Dominion affirmed its Q4 financial guidance (operating earnings, credit, dividend and long‑term growth) and reported Q1 operating earnings of $0.95 per share (GAAP $0.69), while reiterating annual earnings growth targeted in the 5–7% range (guiding to the midpoint with a bias to the upper half beginning 2028). The $65 billion five‑year plan already includes about $2 billion (~3%) for battery storage as Virginia now requires petitions for 20 GW of storage by 2045 (up from 3 GW by 2035). Other metrics: >50 GW of data‑center pipeline (≈10.4 GW contracted), YTD ATM issuance ≈$1.2B (leaving $400–$600M), FFO‑to‑debt >15% (FY2025 and Q1 LTM), and CVOW ~75% complete with an $11.4B budget (≈$100M lower), $123M unused contingency, first power in March, 9 turbines installed and recent cadence ~2 days/turbine, and an expected ~$5B of customer fuel savings in the first ten years.Dominion Energy Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.57B | 16.51B | 14.46B | 14.39B | 13.94B | 11.42B |
| Gross Profit | 8.68B | 8.09B | 6.92B | 6.96B | 6.38B | 5.41B |
| EBITDA | 7.86B | 8.02B | 6.71B | 7.53B | 4.44B | 5.39B |
| Net Income | 2.97B | 3.00B | 2.12B | 2.03B | 1.19B | 3.40B |
Balance Sheet | ||||||
| Total Assets | 118.58B | 115.86B | 102.42B | 109.03B | 104.80B | 99.59B |
| Cash, Cash Equivalents and Short-Term Investments | 487.00M | 250.00M | 310.00M | 184.00M | 119.00M | 283.00M |
| Total Debt | 51.77B | 48.94B | 41.75B | 44.24B | 41.20B | 40.58B |
| Total Liabilities | 84.87B | 82.44B | 72.22B | 81.51B | 77.14B | 72.28B |
| Stockholders Equity | 29.15B | 29.08B | 27.25B | 27.53B | 27.66B | 27.31B |
Cash Flow | ||||||
| Free Cash Flow | -7.39B | -7.28B | -7.41B | -3.66B | -4.06B | -2.02B |
| Operating Cash Flow | 5.06B | 5.36B | 5.02B | 6.57B | 3.70B | 4.04B |
| Investing Cash Flow | -12.83B | -12.97B | -3.18B | -7.21B | -6.75B | -6.25B |
| Financing Cash Flow | 7.78B | 7.59B | -1.77B | 595.00M | 2.98B | 2.37B |
Dominion Energy Technical Analysis
Positive
62.42
Price Trends
65.48
Positive
63.78
Positive
61.19
Positive
Market Momentum
0.99
Positive
62.56
Neutral
39.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For D, the sentiment is Positive. The current price of 62.42 is below the 20-day moving average (MA) of 67.96, below the 50-day MA of 65.48, and above the 200-day MA of 61.19, indicating a bullish trend. The MACD of 0.99 indicates Positive momentum. The RSI at 62.56 is Neutral, neither overbought nor oversold. The STOCH value of 39.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for D.
Dominion Energy Risk Analysis
Dominion Energy disclosed 27 risk factors in its most recent earnings report. Dominion Energy reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Dominion Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $69.48B | 18.94 | 11.86% | 3.25% | 9.38% | 31.12% | |
67 Neutral | $39.81B | 17.62 | 13.32% | 3.13% | 20.30% | 23.48% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $96.56B | 18.75 | 9.85% | 3.61% | 7.21% | 8.97% | |
63 Neutral | $48.32B | 23.10 | 9.34% | 3.09% | 7.57% | 2.60% | |
61 Neutral | $60.17B | 20.22 | 10.51% | 4.59% | 19.15% | 27.09% | |
59 Neutral | $46.87B | 16.88 | 9.76% | 3.68% | 4.58% | 1.43% |
* Utilities Sector Average
D
Dominion Energy
69.75
15.29
28.09%
AEP
American Electric Power
138.51
37.84
37.59%
DUK
Duke Energy
129.60
16.25
14.34%
EXC
Exelon
47.88
6.25
15.02%
PEG
Public Service Enterprise
81.62
3.05
3.88%
XEL
Xcel Energy
81.96
15.81
23.90%
Dominion Energy Corporate Events
Business Operations and StrategyM&A Transactions
Dominion Energy Agrees to Acquisition by NextEra Energy
Negative
May 22, 2026
Dominion Energy on May 15, 2026, entered into a merger agreement under which it will be acquired by NextEra Energy through a two-step merger structure, ultimately becoming part of a wholly owned NextEra subsidiary. The deal’s completion is c...
Business Operations and StrategyM&A Transactions
Dominion Energy to Merge with NextEra in All-Stock Deal
Positive
May 18, 2026
On May 15, 2026, Dominion Energy agreed to merge with NextEra Energy in an all-stock transaction that will create the world’s largest regulated electric utility business by market capitalization and one of the largest energy infrastructure p...
Executive/Board ChangesShareholder Meetings
Dominion Energy Shareholders Back Board, Pay, Auditor Choices
Neutral
May 8, 2026
At Dominion Energy’s 2026 Annual Meeting held on May 5, 2026, shareholders elected all 11 director nominees to the board for terms lasting until the next annual meeting, signaling continuity in the company’s leadership and governance s...
Business Operations and StrategyPrivate Placements and Financing
Dominion Energy Extends Core Revolving Credit Facility Maturity
Positive
Apr 8, 2026
On April 7, 2026, Dominion Energy amended its Sustainability Revolving Credit Agreement, extending its maturity to April 7, 2029, and securing the option to request up to two additional one-year extensions under specified conditions. This move len...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.