Dominion Energy (D) Gains As Market Dips: What You Should Know
Dominion Energy (D) closed at $62.69 in the latest trading session, marking a +0.38% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.3%. Elsewhere, the Dow lost 0.77%, while the tech-heavy Nasdaq lost 5.51%.
Heading into today, shares of the energy company had gained 1.84% over the past month, outpacing the Utilities sector's loss of 1.32% and lagging the S&P 500's gain of 6.41% in that time.
Investors will be hoping for strength from Dominion Energy as it approaches its next earnings release, which is expected to be February 8, 2023. On that day, Dominion Energy is projected to report earnings of $1.03 per share, which would represent year-over-year growth of 14.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.2 billion, up 8.14% from the year-ago period.
Any recent changes to analyst estimates for Dominion Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.93% lower within the past month. Dominion Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Dominion Energy is currently trading at a Forward P/E ratio of 15.27. For comparison, its industry has an average Forward P/E of 17.31, which means Dominion Energy is trading at a discount to the group.
Also, we should mention that D has a PEG ratio of 2.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Utility - Electric Power was holding an average PEG ratio of 3.2 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Dominion Energy Inc. (D) : Free Stock Analysis Report
