Dominion Energy (NYSE:D) is one of the largest producers and transporters of energy, with a portfolio of nearly 26,400 megawatts of generation assets, 66,000 miles of natural gas transmission, gathering, storage and distribution pipeline, 64,200 miles of electric transmission and distribution lines.
Dominion Energy is among the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves utility and retail energy customers in 14 states. Dominion is gradually building up its renewable assets through organic and inorganic routes.
Dominion Energy entered in a definite agreement with SCANA Corporation (NYSE:SCG) to combine in a stock-for-stock merger in which SCANA shareholders would receive 0.6690 shares of Dominion Energy.
Estimate Trend & Surprise History
Investors should note that the fourth quarter Zacks Consensus Estimate for earnings of 88 cents per share has decreased by 2.2% over the last 30 days.
Coming to the earnings surprise, Dominion Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in an overall positive average surprise of 0.6%.
Zacks Rank: Currently, Dominion Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Dominion Energy reported earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%.
Revenue: Dominion’s total revenues came in at $3,210 million, marginally higher than the Zacks Consensus Estimate of $3,208 million.
Key Stats: At the end of the fourth quarter the company was serving 25,422 more electric delivery customers compared with the year ago level.
Stock Price: It would be interesting to see how the market reacts to the positive earnings surprise during the trading session today.
Check back later for our full write up on this Dominion Energy earnings report later!
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Scana Corporation (SCG): Free Stock Analysis Report
Dominion Energy Inc. (D): Free Stock Analysis Report
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