Is Dominion Energy (D) One of the Best Utility Stocks to Buy for Dividends?

Dominion Energy, Inc. (NYSE:D) is included among the 12 Best Utility Stocks to Buy for Dividends.

Dominion Energy, Inc. (NYSE:D) provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina.

Dominion Energy, Inc. (NYSE:D) enjoys a unique position in Virginia’s ‘Data Center Alley’, serving the largest cluster of power-hungry data centers in the world.  As of late last year, the company had approximately 40 GW of data center capacity contracted, with plans to double that in the coming years. Dominion plans to invest over $50 billion through 2029 to support this expanding power demand, allowing it to grow its EPS by 5% to 7% annually.

Dominion Energy, Inc. (NYSE:D)’s Coastal Virginia Offshore Wind project – a 2.6 GW project that will supply clean energy to 660,000 customers – also remains on track. The offshore wind farm is only a few months away from first power delivery to customers in early 2026, and is still on schedule for full completion at the end of next year.

Earlier this month, Barclays analyst Nicholas Campanella raised the firm’s price target on Dominion Energy, Inc. (NYSE:D) from $60 to $63, while keeping an ‘Overweight’ rating on its shares. With the Q3 report coming up, the analyst has highlighted the utility’s fundamentals as intact.

With an annual dividend yield of 4.34%, Dominion Energy, Inc. (NYSE:D) was also recently included on our list of the 12 Best Nuclear Power Dividend Stocks to Buy Now.

While we acknowledge the potential of D as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 12 Best Nuclear Power Dividend Stocks to Buy Now and 12 Best LNG Stocks to Buy According to Hedge Funds.

Disclosure: None.