Dominion Energy (D) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Dominion Energy (D) closed at $68.29, marking a -1.29% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.79%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq added 1.52%.

The energy company's shares have seen an increase of 7.07% over the last month, surpassing the Utilities sector's gain of 2.96% and the S&P 500's loss of 1.82%.

The investment community will be paying close attention to the earnings performance of Dominion Energy in its upcoming release. The company is expected to report EPS of $0.78, up 4% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $3.91 billion, indicating a 2.5% growth compared to the corresponding quarter of the prior year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.59 per share and revenue of $17.73 billion. These totals would mark changes of +4.97% and +7.39%, respectively, from last year.

Investors should also pay attention to any latest changes in analyst estimates for Dominion Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Dominion Energy presently features a Zacks Rank of #3 (Hold).

Looking at its valuation, Dominion Energy is holding a Forward P/E ratio of 19.25. This expresses a premium compared to the average Forward P/E of 18.44 of its industry.

The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 33% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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