Dominion Energy (D) Beats Expectations in Q3 Report

Dominion Energy, Inc. (NYSE:D) is included among the 11 Best High Yield Energy Stocks to Buy Now.

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) announced strong results for its Q3 on October 31, beating its quarterly profit and revenue estimates, helped by increased power demand in its Virginia and South Carolina segments. Moreover, the company revealed that its data center pipeline grew by 17% since the end of last year, further solidifying its position as the world’s biggest data center-serving electric utility. To keep up with the rapidly ballooning demand, the company is planning to invest $50 billion through 2029 to expand its power infrastructure.

Dominion Energy, Inc. (NYSE:D) received a boost on October 27 when RBC Capital analyst Stephen D‘Ambrisi resumed coverage of the stock with a ‘Sector Perform’ rating and a price target of $70, up from its current trading value of less than $59. According to the analyst, Dominion seems like an attractive option at a roughly 11% discount to electric peers on RBC’s slightly above-consensus 2028 EPS estimate. However, the analyst also highlighted the large project risk associated with the utility’s Coastal Virginia Offshore Wind project, given that the under-construction project is under federal review by the Trump administration.

Dominion Energy declared a quarterly dividend of $0.6675 per share on October 29. With a robust annual dividend yield of 4.55% as of the writing of this piece, Dominion Energy, Inc. (NYSE:D) was recently included in our list of the 12 Best Utility Stocks to Buy for Dividends.

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