Dernières nouvelles pour Dominion Energy (NYSE:D) Stock

Dominion Energy

Based in Richmond, Virginia, Dominion Energy is an integrated energy company with over 30 gigawatts of electric generation capacity and more than 90,000 miles of electric transmission and distribution lines. Dominion is constructing a rate-regulated 5.2 GW wind farm off the Virginia Beach coast.

Dominion Energy Inc

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Every time the Federal Reserve (the Fed) cuts interest rates, investors tend to flock to the sectors they believe will outperform the most due to historical reactions and fundamental reasoning. However, this rate cut is a bit different than the ones experienced in the recent past, as the United States economy is more globalized and a bit slower than before.
This will be a different case study, one in which rising credit card delinquency rates and spiking car repossessions will place a headwind in the consumer discretionary sector despite interest rate cuts, one that will slow down easier financing rates to boost the energy sector now that the 22-month contraction in the manufacturing PMI index drove business activity down, and one in which the dollar is as strong as it was during the COVID-19 pandemic.
Mixing these factors together, investors should focus on the effect of interest rates on company fundamentals rather than consumer or economic impacts since those may be a bit blurred in today&#39;s environment. By company fundamentals, the balance sheet is kept in the first place, especially the way lower interest expenses can affect utility stocks like Dominion Energy Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/d#NYSE">D</a>) and dividend real estate investment trusts (REITs) like Brookfield Infrastructure Partners (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bip#NYSE">BIP</a>).
<h2>Why Utility Stocks Thrive in a Low Interest Rate Environment</h2>
Typically, utility stocks carry more debt on their balance sheet than the average industry and, as a result, will have a higher interest expense on their income statement. For this reason, lower interest rates open up more room in their financials due to lower interest expenses, directly pushing earnings per share (EPS) higher.
Since stock prices are driven by their underlying earnings, investors can see how a domino effect can benefit the utility sector if the underlying stocks and their individual balance sheets carry enough debt to make this factor a reality. One such example can be made out of Dominion Energy.
This utility stock carries up to 61% debt on its balance sheet, so it is safe to assume that lower rates will significantly impact its earning power. Now that the stock trades at 98% of its 52-week high, investors can note how the market has recently rewarded this name with better price action than even the S&amp;P 500.
More than that, this stock offers shareholders up to 4.6% as an annual dividend yield today, beating the Fed&#39;s target inflation rate by twice as much. Since utility stocks also have a subscription-based business model, investors can see how cash flows are safer and more predictable here to cushion any potential market volatility.
This is why Wall Street analysts forecast up to $0.75 in EPS for the next 12 months in Dominion Energy stock, a significant jump from today&#39;s 0.65 a share or a 15.3% jump.
Leaning on these projections, Jefferies Financial decided to initiate coverage on the stock at a $58 a share valuation, which is roughly where it trades today, though that might change soon.
Facing this fundamentally bullish trend, bears decided to move out of the stock during the past month, as Dominion&#39;s short interest declined over the past quarter to show signs of bearish capitulation today. Low interest rates can help utility stocks improve their earning power and dividend strength, and other sectors like real estate benefit as well.
<h2>Low Interest Rates Boost Rental Income Potential in Dividend Real Estate Stocks</h2>
Here is how lower rates push the income potential for property stocks, especially REITs in agnostic asset classes like infrastructure. This is where Brookfield Infrastructure Partners stock comes into play.
As financing rates and liquidity become available, acquisitions and additions to the company&#39;s real estate portfolio automatically generate more income from tenants and create higher upside potential through the ensuing appreciation of these new properties.
This REIT&#39;s balance sheet shows 64.3% debt, so the same effect in the utility sector is true here: lower interest expenses lead to better earning potential.
These fundamental truths led Wall Street analysts to forecast up to $0.84 in EPS for the next 12 months, up from today&#39;s net loss of $0.10 a share.
Driven by this potential profit growth in the next 12 months, management feels comfortable paying investors up to 4.8% in a dividend yield, which could see further strength as lower interest rates enable the company to expand its property income.
More than that, analysts have also landed on a consensus price target of $37.6 a share, calling for up to 11.1% upside from the stock&#39;s current level. Considering that it already trades at its 52-week high, analysts are directly calling for the stock to reach a new high in cadence with bullish price action and sentiment toward the stock and the sector.
The article &quot;<a href="https://www.marketbeat.com/originals/2-sectors-investors-should-buy-now-that-rate-cuts-are-in/">2 Sectors Investors Should Buy Now That Rate Cuts Are In</a>&quot; first appeared on MarketBeat.

Earnings

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News

REIT

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Management

Federal Reserve

Markets

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Trading Ideas

Real Estate

2 Sectors Investors Should Buy Now That Rate Cuts Are In

On CNBC's &#8220;<a href="https://www.benzinga.com/topic/mad-money-lightning-round">Mad Money Lightning Round</a>,&#8221; Jim Cramer said Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) is a buy. &#8220;We need <a href="https://www.benzinga.com/quote/D/analyst-ratings">cheap power,&#8221; he noted.</a>
On Sept. 19, Jefferies analyst Paul Zimbardo initiated coverage on Dominion Energy with a Hold rating and announced a price target of $58.
Cramer said he likes Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>). &#8220;I&#8217;m glad that they slowed their expansion,&#8221; he added.
On Sept. 12, TD Cowen analyst Andrew Charles reiterated Dutch Bros with a Buy and maintained a $47 price target.
When asked about Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), he said, &#8220;I need to see the financials filed.&#8221;
On Sept. 20, Super Micro Computer announced the receipt of non-compliance letter from the Nasdaq.
LyondellBasell Industries N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) is not a stock that he is recommending, Cramer said.
On Sept. 13, JPMorgan analyst Jeffrey Zekauskas maintained LyondellBasell Industries with an Overweight rating and lowered the price target from $113 to $110.
On Aug. 2, LyondellBasell reported&nbsp;second-quarter&nbsp;fiscal 2024 revenues of&nbsp;$10.55 billion, up from&nbsp;$10.306 billion&nbsp;a year ago,&nbsp;<a href="https://www.benzinga.com/pressreleases/24/08/n40125912/lyondellbasell-reports-second-quarter-2024-earnings">beating the consensus of&nbsp;$10.44 billion.</a> Adjusted EBITDA stood at&nbsp;$1.37 billion&nbsp;(-5.3%&nbsp;Y/Y), and the margin contracted by 107 bps to&nbsp;13%. Adjusted EPS stood at&nbsp;$2.24,&nbsp;<a href="https://www.benzinga.com/earnings">beating the consensus of&nbsp;$2.23.</a>
Price Action:
<ul>
<li>Dominion Energy shares gained 0.8% to settle at $57.93 on Friday.</li>
<li>Dutch Bros shares gained 0.2% to close at $34.92 during the session.</li>
<li>Super Micro Computer shares gained 4.6% to close at $457.27 during Friday's session.</li>
<li>LyondellBasell shares fell 2.1% to settle at $94.04 on Friday.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/24/09/40962695/jim-cramer-viking-has-many-ships-coming-in"> Jim Cramer: Viking Has &#8216;Many Ships Coming In&#8217;</a></li>
</ul>

Long Ideas

Media

BROS

SMCI

Jim Cramer Says This Utilities Stock Is A Buy: 'We Need Cheap Power'

Jefferies analyst Paul Zimbardo initiates coverage on Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) with a Hold rating and announces Price Target of $58.

Initiation

Jefferies Initiates Coverage On Dominion Energy with Hold Rating, Announces Price Target of $58

Americans receiving <a href="https://www.benzinga.com/personal-finance/24/09/40800774/gen-xs-looming-retirement-crisis-is-worse-than-they-realize-expert-compares-it-to-being-handed-a">Social Security payments</a> may see less of an increase next year, according to a nonprofit group that represents senior citizens.
The Social Security Administration is poised to announce its yearly cost of living adjustment (COLA) for payments to 71 million Americans in the middle of next month, effective in January 2025. The government agency handed out a 3.2% increase for this year last October.
The Senior Citizens League expects a 2.5% increase for next year, based on inflation falling from 2.9% in July to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40815794/fed-is-all-clear-for-launch-on-cutting-rates-as-inflation-falls-to-lowest-point-in-">2.5% in August</a>.
By law, the annual inflation adjustment is based on the average inflation during July, August, and September&nbsp;as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Read Also: <a href="https://www.benzinga.com/personal-finance/24/09/40817544/report-warns-of-16-500-annual-social-security-benefit-cut-for-dual-income-couples-by-2033">Report Warns of $16,500 Annual Social Security Benefit Cut for Dual-Income Couples by 2033</a>
The Bureau of Labor Statistics averages the CPI-W for these three months and then compares it with the same time frame from the previous year. The percentage difference between the two is the COLA, payable for checks received in January 2025. 
The league says the expected 2.5% increase will not be enough for seniors to meet the higher cost of living. 
Nearly 80% of senior households report that their monthly budget for essential items like food, housing, and prescription drugs had increased over the last 12 months, according to a 2024 survey taken by the organization. Almost two-thirds &#8212; 63% &#8212; say they&#8217;re worried that their income won&#8217;t be enough to cover these basic costs in the coming months.
&#8220;Ensuring that seniors have enough to feed and house themselves with dignity is a major reason why we advocate for a minimum COLA of 3%,&#8221; said Shannon Benton, the league&#8217;s executive&nbsp;director.&nbsp;
She said about two-thirds of seniors rely on Social Security for more than half of their monthly income, and 28% depend on it entirely.
Retirement Stocks
Dividend-yielding, retirement-oriented stocks, typically selected for their risk-averse nature, experienced mixed performance by midday trading on Monday.
<ul>
<li>Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) gained 0.92% to $72.06.</li>
<li>Anhueser Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) slipped 0.41% to $64.63.</li>
<li>Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) rose 1.07% to $58.78.</li>
<li>Microsoft Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) slipped 0.19% to $429.78.</li>
</ul>
Retirement ETFs
Exchange-traded funds that are well suited for retirement trended upward on Monday.
<ul>
<li>Vanguard High Dividend Yield ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VYM#NYSE">VYM</a>) rose 0.41%.</li>
<li>IShares MSCI EAFE ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFA#NYSE">EFA</a>) gained 0.34%.</li>
<li>Vanguard Total World Stock ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VT#NYSE">VT</a>) edged up 0.53%.</li>
<li>IShares Cohen &amp; Steers REIT ETF ((BATS: <a class="ticker" href="https://www.benzinga.com/stock/icf#BATS">ICF</a>) went up 0.20%.</li>
<li>Vanguard Total Bond Market ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BND#NASDAQ">BND</a>) inched up 0.21%.</li>
</ul>
Retirement Plan Stocks
Financial service firms that offer retirement plans were also on the upswing on Monday.
<ul>
<li>The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) picked up 2.5% to $63.67.</li>
<li>Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) gained 1.89% to $53.78.</li>
<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) gained 1.47% to $201.33.</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/personal-finance/24/09/40695081/we-should-not-just-be-dependent-upon-the-payroll-tax-to-fund-social-security-says-retirement-exp">&#8216;We Should Not Just Be Dependent Upon The Payroll Tax&#8217; To Fund Social Security, Says Retirement Expert Teresa Ghilarducci</a></li>
</ul>
Photo: Shutterstock

MSFT

SCHW

Social Security Payments Set For 2.5% Increase Next Year; Retirement-Oriented Dividend Stocks Like Coca-Cola, Wells Fargo See Gains

Dominion Energy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) short percent of float has risen 3.17% since its last report. The company recently reported that it has 16.36 million shares sold short, which is 1.95% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.39 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Dominion Energy Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726499717_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Dominion Energy has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Dominion Energy's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Dominion Energy's peer group average for short interest as a percentage of float is 2.90%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Dominion Energy's Recent Short Interest

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the utilities sector.
<h3 class="wp-block-heading">UGI Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UGI#NYSE">UGI</a>)</h3>
<ul>
<li>Dividend Yield: 6.39%</li>
<li>Wells Fargo analyst Sarah Akers maintained an Equal-Weight rating and lowered the price target from $28 to $27 on May 3. This analyst has an accuracy rate of 71%.</li>
<li>Mizuho analyst Gabriel Moreen maintained a Neutral rating and increased the price target from $26 to $27 on April 17. This analyst has an accuracy rate of 75%.</li>
<li>Recent News: On Aug. 7, UGI posted a profit for the third quarter.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091324&amp;t=be2bearmibe3na1">latest UGI news.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="901" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195223/image-105.png" alt="" class="wp-image-545793" style="width:654px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195223/image-105.png 901w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195223/image-105-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195223/image-105-768x709.png 768w" sizes="(max-width: 901px) 100vw, 901px" /></a></figure>
<h3 class="wp-block-heading">Clearway Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWEN#NYSE">CWEN</a>)</h3>
<ul>
<li>Dividend Yield: 5.88%</li>
<li>Morgan Stanley analyst Robert Kad upgraded the stock from Equal-Weight to Overweight and raised the price target from $25 to $36 on July 31. This analyst has an accuracy rate of 80%</li>
<li>RBC Capital analyst Shelby Tucker maintained a Sector Perform rating and cut the price target from $26 to $25 on Feb. 27. This analyst has an accuracy rate of 70%.</li>
<li>Recent News: On Aug. 1, Clearway Energy posted a decline in second-quarter sales.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the t<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091324&amp;t=be2bearmibe3na1">rend in CWEN stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="913" height="840" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195308/image-106.png" alt="" class="wp-image-545797" style="width:645px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195308/image-106.png 913w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195308/image-106-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195308/image-106-768x707.png 768w" sizes="(max-width: 913px) 100vw, 913px" /></a></figure>
<h3 class="wp-block-heading">Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>)</h3>
<ul>
<li>Dividend Yield: 4.67%</li>
<li>BMO Capital analyst James Thalacker maintained a Market Perform rating and raised the price target from $53 to $57 on Aug. 5. This analyst has an accuracy rate of 70%.</li>
<li>B of A Securities analyst Julien Dumoulin-Smith upgraded the stock from Underperform to Neutral and raised the price target from $43 to $54 on May 10. This analyst has an accuracy rate of 71%.</li>
<li>Recent News: On Aug. 1, Dominion Energy reported second-quarter FY24 revenue of $3.486 billion, missing the consensus of $3.729 billion.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091324&amp;t=be2bearmibe3na1">breakout in D shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="875" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195346/image-107.png" alt="" class="wp-image-545798" style="width:677px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195346/image-107.png 875w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195346/image-107-300x289.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12195346/image-107-768x739.png 768w" sizes="(max-width: 875px) 100vw, 875px" /></a></figure>
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Read More: 
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</ul>

Pre-Market Outlook

CWEN

Wall Street's Most Accurate Analysts Weigh In On 3 Utilities Stocks With Over 4% Dividend Yields

Across the recent three months, 4 analysts have shared their insights on Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $55.75, along with a high estimate of $58.00 and a low estimate of $51.00. This current average reflects an increase of 7.73% from the previous average price target of $51.75. 
<img src="https://www.benzinga.com/files/images/story/2024/1724173210_0_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The perception of Dominion Energy by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Weisel</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$58.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Jeremy Tonet</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$57.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>James Thalacker</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$57.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>James Thalacker</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$51.00</td>
<td>$52.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Dominion Energy. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Dominion Energy compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Dominion Energy's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Dominion Energy's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/D/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dominion Energy analyst ratings.</a>
<h2>All You Need to Know About Dominion Energy</h2>
Based in Richmond, Virginia, Dominion Energy is an integrated energy company with over 30 gigawatts of electric generation capacity and more than 90,000 miles of electric transmission and distribution lines. Dominion is constructing a rate-regulated 5.2 GW wind farm off the Virginia Beach coast.
<h3>Dominion Energy: Financial Performance Dissected</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Dominion Energy's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 10.11%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Utilities sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Dominion Energy's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 15.61% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Dominion Energy's ROE stands out, surpassing industry averages. With an impressive ROE of 2.12%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Dominion Energy's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.54% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.62.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where Dominion Energy Stands With Analysts

Scotiabank analyst Andrew Weisel maintains Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) with a Sector Perform and raises the price target from $48 to $58.

Scotiabank Maintains Sector Perform on Dominion Energy, Raises Price Target to $58

EQNR

U.S. Interior Dept Says Equinor, Dominion Winners Of Offshore Wind Leases In Central Atlantic; Equinor's Winning Offshore Wind Lease Bid Was $75M, Dominion's Winning Lease Bid Was $17.7M

JP Morgan analyst Jeremy Tonet maintains Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) with a Neutral and raises the price target from $54 to $57.

JP Morgan Maintains Neutral on Dominion Energy, Raises Price Target to $57

2024&#8217;s <a href="https://www.benzinga.com/24/08/40224567/as-tropical-storm-debby-hits-south-carolina-bettors-predict-an-aggressive-hurricane-season-will-it-b">sure-to-be-harsh storm season</a> is underway.
Tropical Storm Debby is making its way up the East Coast. Populated cities such as Baltimore, Washington D.C. and <a href="https://www.benzinga.com/topic/new-york-city">New York City</a> are at risk of floods.
The Forecast: The National Oceanic and Atmospheric Administration issued an <a href="https://www.nhc.noaa.gov/graphics_at4.shtml?start#contents">update</a> for Storm Debby on Thursday morning.
The storm made landfall in the Carolinas early Thursday morning, triggering flash flood warnings in Charlotte, Raleigh, Greensboro and Winston-Salem. According <a href="https://www.accuweather.com/en/hurricane/slow-moving-debby-threatens-catastrophic-flooding-in-carolinas/1676605">to</a> AccuWeather, &#8220;catastrophic flooding&#8221; could result from over two feet of rain in some areas.
The storm&#8217;s path will move upward through Baltimore and Washington D.C. on Friday. It will then turn upward toward Harrisburg and Scranton, Pennsylvania and Upstate New York.
While Philadelphia and New York City are not directly in the storm&#8217;s predicted path, the major population centers are at risk of flooding.
Why it Matters: Several publicly traded companies are affected by the <a href="https://www.benzinga.com/markets/esg/24/05/39012013/noaa-meteorologists-predict-aggressive-hurricane-season-what-it-means-for-home-depot-generac-other-s">increasing prevalence of storms</a> and extreme weather due to climate change.
Insurance companies Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Progressive Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) may see increased claims for property damage following periods of extreme weather.
Generac Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>), the largest manufacturer of home generators, may see demand increases. Power outages can result from storms.
Dominion Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) and Duke Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) are two of the largest utility companies in the most affected areas.
Home improvement giants Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe&#8217;s Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) usually see increases in for building materials and equipment as people repair damaged properties.
Also Read:
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<li><a href="https://www.benzinga.com/top-stories/24/08/40139298/did-hurricane-beryl-contribute-to-fridays-weak-jobs-report-how-future-extreme-weather-could-hurt-us">Did Hurricane Beryl Contribute To Friday&#8217;s Weak Jobs Report? How Future Extreme Weather Could Hurt US Economy</a></li>
</ul>

Equities

GNRC

Storm Debby Headed For NYC, Highly Populated Areas As 'Catastrophic Flooding' Persists

Sempra Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sre#NYSE">SRE</a>) reported second-quarter 2024 adjusted earnings per share of 89 cents, which missed the Zacks Consensus Estimate of 92 cents by 3.3%. The figure also declined 5.3% from earnings of 94 cents per share in the prior-year quarter.
Including one-time items, the company generated GAAP earnings of $1.12 per share compared with 95 cents in the second quarter of 2023.
<h3>Total Revenues</h3>
Sempra&#39;s total revenues of $3.01 billion declined 9.79% from $3.34 billion in the year-ago quarter. This was due to lower revenue contributions from the Natural gas and Energy-related business units. The top line also missed the Zacks Consensus Estimate of $3.52 billion by 14.5%.
<div class="chart_embed">
<h3>Sempra Energy Price, Consensus and EPS Surprise <a href="https://www.zacks.com/stock/chart/SRE/price-consensus-eps-surprise-chart?icid=chart-SRE-price-consensus-eps-surprise-chart"> </a></h3>
<h3><img alt="Sempra Energy Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/22/1722956149.png" style="height:286px; width:620px" title="" /></h3>
Sempra Energy price-consensus-eps-surprise-chart | Sempra Energy Quote
</div>
<h3>Segmental Update</h3>
Sempra California: Quarterly earnings amounted to $316 million compared with the year-ago quarter&#39;s level of $339 million.
Sempra Texas Utility: Earnings in this segment improved from $160 million in the year-ago quarter to $202 million.
Sempra Infrastructure: The segment recorded earnings of $291 million compared with $208 million in the year-ago quarter.
Parent and Other: The segment reported a loss of $96 million, narrower than the prior-year period&#39;s loss of $104 million.
<h3>Financial Update</h3>
As of Jun 30, 2024, Sempra&#39;s cash and cash equivalents totaled $228 million compared with $236 million as of Dec 31, 2023.
Long-term debt and finance leases amounted to $28.97 billion as of Jun 30, compared with $27.76 billion as of Dec 31, 2023.
Cash flow from operating activities decreased from $3.74 billion in the first six months of 2023 to $2.52 billion in the first six months of 2024.
<h3>Guidance</h3>
Sempra anticipates its 2024 earnings to be in the range of $4.60-$4.90 per share. The Zacks Consensus Estimate is pegged at $4.79 per share, higher than the midpoint of the company&#39;s guided range.
SRE expects its 2025 earnings to be in range of $4.90-$5.25 per share. The consensus estimate is pegged at $5.13 per share, higher than the midpoint of the company&#39;s guided range.
It still expects a long-term EPS growth rate of 6-8%.
<h3>Zacks Rank</h3>
Sempra currently carries a Zacks Rank #2 (Buy).
<h3>Recent Utility Releases</h3>
Spire Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sr#NYSE">SR</a>) reported third-quarter fiscal 2024 loss of 14 cents per share, narrrower than the Zacks Consensus Estimate of a loss of 18 cents per share by 0.4%. The company&#39;s bottom line improved 66.7% from a loss of 42 cents per share reported in the prior-year quarter.
The Zacks Consensus Estimate for SR&#39;s fiscal 2024 EPS is pegged at $4.28, implying an improvement of 5.7% from the year-earlier level.
Dominion Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/d#NYSE">D</a>) reported second-quarter EPS of 55 cents, which lagged the Zacks Consensus Estimate of 58 cents by 5.2%. The figure increased 3.8% from earnings of 53 cents per share reported in the prior-year quarter.
The Zacks Consensus Estimate for Dominion&#39;s 2024 EPS is pegged at $2.75, implying an improvement of 38.2% from the year-earlier levels.
IDACORP, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ida#NYSE">IDA</a>) reported second-quarter EPS of $1.71, which beat the Zacks Consensus Estimate of $1.37 by 24.8%. The figure increased 26.7% from earnings of $1.35 per share reported in the prior-year quarter.
The Zacks Consensus Estimate for IDA&#39;s 2024 EPS is pegged at $5.37, implying an improvement of 4.5% from the year-earlier level.
<a href="https://www.zacks.com/stock/news/2317221/sempra-sre-q2-earnings-miss-estimates-revenues-decline-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2317221">To read this article on Zacks.com click here.</a>

Earnings Misses

Guidance

Sempra Q2 Earnings Miss Estimates, Revenues Decline Y/Y

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Stifel boosted the price target for Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) from $180 to $200. Stifel analyst Jonathan Block maintained a Buy rating. Zoetis shares fell 3% to trade at $175.38 on Monday. <a href="https://www.benzinga.com/quote/ZTS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan raised the price target for IQVIA Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>) from $260 to $288. JP Morgan analyst Anne Samuel maintained an Overweight rating. IQVIA shares fell 3.8% to trade at $232.55 on Monday. <a href="https://www.benzinga.com/quote/IQV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo increased Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) price target from $185 to $195. Wells Fargo analyst Sam Reid maintained an Overweight rating. Lennar shares fell 4.5% to trade at $166.69 on Monday. <a href="https://www.benzinga.com/quote/LEN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Susquehanna raised the price target for Cloudflare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) from $80 to $85. Susquehanna analyst Aaron Samuels maintained a Neutral rating. Cloudflare shares fell 4.8% to trade at $75.62 on Monday. <a href="https://www.benzinga.com/quote/INTC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup cut Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) price target from $1,025 to $990. Citigroup analyst Atif Malik maintained a Buy rating. Lam Research shares fell 2.1% to trade at $747.01 on Monday. <a href="https://www.benzinga.com/quote/LRCX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs cut DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) price target from $60 to $54. Goldman Sachs analyst Ben Miller maintained a Buy rating. DraftKings shares fell 3.2% to trade at $31.01 on Monday. <a href="https://www.benzinga.com/quote/DKNG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital raised the price target for Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) from $53 to $57. BMO Capital analyst James Thalacker maintained a Market Perform rating. Dominion Energy shares fell 1.3% to trade at $55.38 on Monday.<a href="https://www.benzinga.com/quote/D/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>JP Morgan boosted The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) price target from $377 to $400. JP Morgan analyst Christopher Horvers maintained an Overweight rating. Home Depot shares fell 1.6% to trade at $349.80 on Monday. <a href="https://www.benzinga.com/quote/HD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>RBC Capital cut Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) price target from $125 to $90. RBC Capital analyst Luca Issi downgraded the stock from Outperform to Sector Perform. Moderna shares fell 2.8% to trade at $84.19 on Monday.<a href="https://www.benzinga.com/quote/MRNA/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Macquarie raised Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) price target from $46 to $50. Macquarie analyst Aaron Lee maintained an Outperform rating. Roblox shares dipped 9% to trade at $35.50 on Monday. <a href="https://www.benzinga.com/quote/RBLX/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Read More:
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<li> <a href="https://www.benzinga.com/markets/24/08/40142776/wall-streets-most-accurate-analysts-views-on-3-materials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Materials Stocks Delivering High-Dividend Yields</a></li>
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RBLX

Home Depot To Rally More Than 14%? Here Are 10 Top Analyst Forecasts For Monday

BMO Capital analyst James Thalacker maintains Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) with a Market Perform and raises the price target from $53 to $57.

BMO Capital Maintains Market Perform on Dominion Energy, Raises Price Target to $57

Markets experienced a sharp downturn, driven by heightened geopolitical tensions and economic uncertainties that negatively impacted investor risk sentiment, just a day after the Federal Open Market Committee (FOMC) meeting signaled a potential interest <a href="https://www.benzinga.com/news/large-cap/24/07/40080168/jerome-powell-finally-concedes-rate-cut-could-be-on-the-table-in-september-stocks-gold-rise-dollar">rate cut in September.</a>
U.S. economic data released Thursday revealed a larger-than-expected rise in weekly jobless claims and a more pronounced contraction in manufacturing activity for July. 
Initial unemployment claims increased to 249,000, up from 235,000 the previous week, marking the highest level in nearly a year. The ISM manufacturing PMI dropped to 46.8% in July, extending its contraction for the fourth consecutive month and reaching its lowest point since December 2023.
In geopolitical developments, Israel announced the elimination of Hamas&#8217; military leader Mohammed Deif in a Gaza strike last month. This event followed the assassination of another top Hamas official in Tehran and the killing of Hezbollah&#8217;s commander in Beirut. Iranian officials are considering retaliatory measures against Israel, which has vowed to respond to any threats with force.
Amid rising risk aversion, Wall Street abruptly reversed prior session gains. The S&amp;P 500 Index declined by about 1% in midday trading in New York, while the Nasdaq 100 fell by 1.5% due to another wave of semiconductor selloffs driven by disappointing corporate earnings reports.
The economically-sensitive Russell 2000 index plummeted over 3%, heading for its worst session since April.
Safe-haven assets gained traction, with both the U.S. dollar and Treasuries seeing increased demand. The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.3%, while long-term Treasuries, as represented by the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), surged 0.7%.
Oil prices declined by 1.5% after a 4.4% surge the previous day, as investors focused on demand concerns amid weakening economic indicators. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell by 2.6%, trading at $62,900.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day chg. %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,470.62</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,335.79</td>
<td>-1.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,079.71</td>
<td>-1.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,190.02</td>
<td>-3.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.9% lower to $546.13.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 1% to $404.23.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.5% to $464.25.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 3% to $217.10.</li>
<li>Sector-wise, the Real Estate Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)&nbsp;outperformed, rallying 1.3%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 2.2%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
Stocks reacting to earnings were: 
<ul>
<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), down 7%,</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), down over 15%,</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), up 2.7%, </li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>), up 0.5%,</li>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>), down 2.8%,</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), up 8.3%,</li>
<li>Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), down 4.8%,</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), up 14.3%,</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), down 1.8%</li>
<li>Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>), up 2.8%,</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) up 3%,</li>
<li>EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), down 2.3%,</li>
<li>Everest Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), down 6.8%,</li>
<li>Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), down 0.4%,</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), down 2.5%,</li>
<li>Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), down 9%,</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), up 6%,</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), down over 20%,</li>
<li>Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), up 1.2%,</li>
<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), down over 8%,</li>
<li>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>), down over 6%,</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), down over 5%,</li>
<li>Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) down over 7%</li>
</ul>
Those reporting after the close include:
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Microchip Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) and United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>).
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Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!
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US Stocks Tumble On Economic, Geopolitical Concerns; Small Caps, Chipmakers Sink; Meta Rallies: What's Driving Markets Thursday?

Dominion Energy Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>)&nbsp;shares are trading higher after the company reported&nbsp;second-quarter&nbsp;FY24 revenue of&nbsp;$3.486 billion, missing the<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40096304/dominion-energy-announces-second-quarter-2024-earnings" rel="noreferrer noopener"> consensus of&nbsp;$3.729 billion</a>.&nbsp;
Operating expenses rose to $2.68 billion from $2.57 billion a year ago.
Adjusted operating earnings rose to&nbsp;$563 million&nbsp;from&nbsp;$310 million in the same period in 2023.&nbsp;Adjusted EPS was&nbsp;$0.65, up from&nbsp;$0.35&nbsp;a year ago, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of $0.56</a>.
As of June-end, the company had cash and cash equivalents of&nbsp;$<a target="_blank" href="https://s2.q4cdn.com/510812146/files/doc_financials/2024/q2/2024-08-01-DE-IR-2Q24-Earnings-Release-Kit-vTC.pdf" rel="noreferrer noopener">139</a> million.
Outlook: The company reaffirmed FY24 operating EPS of&nbsp;$2.62 –<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> $2.87&nbsp;vs. consensus of&nbsp;$2.79</a>.
The company also maintained FY25 operating EPS of&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38594288" rel="noreferrer noopener">$3.25 –&nbsp;$3.54 vs. consensus of&nbsp;$3.39</a>.
The company also reaffirmed all financial&nbsp;guidance&nbsp;provided at its&nbsp;March 1 investor meeting, including&nbsp;guidance&nbsp;related to&nbsp;earnings, credit, and&nbsp;dividends.
Investors can gain exposure to the stock via&nbsp;BNY Mellon ETF Trust BNY Mellon Global Infrastructure Income ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/BKGI#BATS">BKGI</a>) and&nbsp;WBI Power Factor High Dividend ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBIY#NYSE">WBIY</a>).
Price Action: Dominion Energy shares are up 2.21% at $54.64 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BKGI

WBIY

Dominion Energy's Q2 Earnings Surprise Offsets Revenue Miss: Details

Guidance
The company reaffirms its full-year 2024 operating earnings&nbsp;guidance&nbsp;range of&nbsp;$2.62&nbsp;to&nbsp;$2.87&nbsp;per share. The company also reaffirms its full-year 2025 operating earnings&nbsp;guidance&nbsp;range of&nbsp;$3.25&nbsp;to&nbsp;$3.54&nbsp;per share and the other financial&nbsp;guidance&nbsp;provided at the&nbsp;March 1, 2024&nbsp;investor meeting including&nbsp;guidance&nbsp;related to earnings, credit, and dividend.

Dominion Energy Reaffirms 2024 Adj. EPS Outlook Of $2.62-$2.87 vs $2.79 Estimate

After Wednesday&#8217;s tech-led rebound amid the Federal Reserve&#8217;s rate decision, the stock market could be in for further gains. The major index futures point to a higher opening, although suggesting a slowdown in the upward momentum is in the cards. Despite <a href="https://www.benzinga.com/news/large-cap/24/07/40080168/jerome-powell-finally-concedes-rate-cut-could-be-on-the-table-in-september-stocks-gold-rise-dollar">Federal Reserve Chair Jerome Powell&#8217;s non-committal stance, </a>the market has begun discounting a September rate cut. This is evident from the extended pullback in bond yields and the rally in dollar-denominated commodities. The imminent release of the July non-farm payrolls report could introduce some caution.
The market could receive support from positive reactions to Meta Platforms, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) earnings even as it may choose to remain on &#8220;wait-and-watch&#8221; mode ahead of another batch of mega-cap tech earnings from the likes of Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.34%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.33%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.15%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.35%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) moved up 0.31% to $547.16, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.48% to $473.35, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks closed Wednesday&#8217;s session higher, with the S&amp;P 500 and the Nasdaq Composite rising solidly amid positive reaction to tech earnings. The Dow Jones Industrials Averages saw some moments of anxiety but stayed mostly in the green before closing modestly higher. All three averages experienced some degree of volatility amid the Fed decision, rising sharply following the release of the post-meeting policy statement. They gave back much of these gains after Powell&#8217;s presser and yet closed firmly in the green.
As expected, the central bank used the July meeting to prepare the markets for a September rate cut, said Jeffrey Roach, chief economist at LPL Financial. The rate-setting committee noted a slowdown in the labor market and said Inflation continued to move into better balance.
Weighing in on Powell&#8217;s press conference, &nbsp;Chris Zaccarelli, Chief Investment Officer at Independent Advisor Alliance, said the chairman tried to strike a neutral tone. Powell explained &#8220;why today was too soon to cut rates, but effectively said that his base case was for a 25 bps rate cut even while leaving open the possibility that they may be forced to wait again (e.g. zero cuts) or even that they would move even more quickly (e.g. several cuts),&#8221; he said.
IT stocks rallied strong and hard, while communication services, consumer discretionary, industrial, material and utility stocks also gained ground.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td> Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.64%</td>
<td>17,599.40</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.58%</td>
<td>5,522.30</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.24%</td>
<td>40,842.79</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.51%</td>
<td>2,254.48</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Monica Guerra, Head of Policy, Morgan Stanley Wealth Management, said analysis of several key economic indicators suggests the Republican candidate may still have an edge in the November election. &#8220;Recent economic cooling may be a disadvantage for Democrats, with slower annualized first-quarter GDP growth of 1.3%, down from 3.4% in 2023's fourth quarter, corresponding to a 1.4% drop in the president's approval rating this year,&#8221; she said.
Still elevated prices and interest rates, which will likely remain high by historical standards even after the Fed cut rates, may not bode well for the Democratic nominee, she added
Guerra said the performances of different equity sectors also point to a Republican win. She noted that her team experimented with two equity baskets each containing 12 sectors and industry ETFs that could benefit from a Democratic or Republican win. &#8220;So far this year, the Republican basket (which includes sectors such as Energy, Materials, Utilities and Real Estate) has outperformed by 9% the Democratic basket (including solar energy, tech and infrastructure stocks). This suggests growing investor confidence in a GOP victory,&#8221; she said.
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release the weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 235,000 in the week ended July 27, flat with the number for the previous reporting week.</li>
<li>The S&amp;P Global will release the final July manufacturing purchasing managers&#8217; index at 9:45 a.m. EDT. Flash reading released in July showed a reading of 49.5, suggesting contracting activity, down from 51.6 in June.</li>
<li>The Institute for Supply Management is due to release the results of its national manufacturing survey at 10 a.m. EDT. The manufacturing PMI for July is expected at 48.9, slightly up from 48.5 in June.</li>
<li>The Commerce Department&#8217;s construction spending report, due at 10 a.m. EDT, is expected to show a 0.2% month-over-month increase following a 0.1% drop in May.</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) fell over 10% in <a href="https://www.benzinga.com/premarket">premarket trading</a> following the chipmaker&#8217;s quarterly results.</li>
<li>The other stocks reacting to earnings are C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) (up over 11.5%), Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) (up over 13.50%), Meta (up over 6.6%), and Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) (down about 17%).</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>), Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>), EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>), Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) and Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening.</a></li>
<li>Those reporting after the close include Amazon, Apple, Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) and United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures extended gains and the yield on the 10-year Treasury note slipped 5.5 points 4.049%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back below the $65K level.
Asian stocks closed on a mixed note, with the Japanese market retreating sharply on the yen&#8217;s strength post the Bank of Japan&#8217;s rate decision. The Chinese and Hong Kong markets fell modestly after disappointing Chinese manufacturing data. The rest of the major markets in the region rose, towing in line with the sentiment on Wall Street overnight.
The European markets were mostly lower in early trading as traders await the Bank of England&#8217;s rate decision due shortly. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40006542/apple-amazon-microsoft-meta-lead-the-charge-as-investors-bank-on-tech-cheer-for-ral">Apple, Amazon, Microsoft, Meta Lead The Charge As Investors Bank On Tech Cheer For Rally&#8217;s Reacceleration: Week Ahead In Earnings</a></li>
</ul>
Image Via Shutterstock

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Wall Street Looks To Ride On Earnings Cheer As Meta Q2 Impresses Investors: Analyst Says Economic Data, Stock Performances Suggest Republican Win In November

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