Dominion Energy (D) Stock Drops Despite Market Gains: Important Facts to Note
Dominion Energy (D) closed the most recent trading day at $49.01, moving -0.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.41%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.2%.
The energy company's shares have seen an increase of 3.26% over the last month, surpassing the Utilities sector's gain of 3.13% and the S&P 500's gain of 2.9%.
The investment community will be closely monitoring the performance of Dominion Energy in its forthcoming earnings report. The company's upcoming EPS is projected at $0.53, signifying a 50% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.03 billion, reflecting a 18.05% fall from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Dominion Energy. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 moved 0.74% higher. Dominion Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Dominion Energy has a Forward P/E ratio of 15.77 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.2.
Also, we should mention that D has a PEG ratio of 3.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.7.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Dominion Energy Inc. (D) : Free Stock Analysis Report
