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Dominion Energy, Inc. (D)
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Apparently the new and current CEO issued a statement whether as a scare tactic or as a threat of discrimination to ease workplace restrictions on those vaccinated with the Covid-19 vaccine and make life harder for those that have opted-out of the vaccination. Some may have chosen to opt-out for religious reasons or many other reasons. Apparently within the new leadership of this company discrimination is acceptable. For shareholders that are unhappy with the cuurent leadership nothing short of a resignation should be accepted for threats of discrimination from the CEO. No wonder dividends are being cut with minds in charge like this.
Scott, They are clueless for well over a year every power plant operation personal specifically 12 hour shift workers have been required to work without the ability to work from home. You would think some recogintion would be warranted by the leadership . I agree Bob blue is on some dangerous grounds with his wording. Like now it's imperative that you get vaccinated because we care about our workplace? Let me be clear also about the statement "Thank you for keeping the power flowing to all our customers during these troubling times". Who do you think has been doing that at 3am in the morning at the gas plants and hydros send coal plants and nukes. I can promise you no one working from home!
NC DEQ denied MVP Southgate for a second time. Dominion on losing end of high risk now exposed to big liability, losses.
ER must not be Good.. I see D in the Red as usual..
Never, ever thought I would say this: I really miss SCE&G.......
Q2 Guidance: Operating EPS of $0.70-$0.80 vs. $0.85 consensus.
FY Guidance: Re-affirms prior guidance of $3.70-$4.00 vs. $3.89 consensus.
EPS guidance down for 2Q even with a $3B buyback / share reduction. But confirmed dividend growth projection. Might be difficult without significant EPS growth.
Interesting, D's partner in the pipeline project (Duke) is now at $97.00 and did not reduce their dividend. D is at $76.00 and will take six years to recover their dividend payout. If you haven't voted yet for the board members, perhaps you should take this into consideration.
Proxy is out; time to consider carefully, and vote accordingly. If you are not happy with the performance and decisions of the last 5 years, 33% reduction in dividend, and 17% decrease from last year's high..... then send a message. This is a good company; we need to get the leadership to re-focus on the shareholders.
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Shareholder rebellion occurs when the owners of a corporation work to throw out management or oppose their decisions. Shareholder rebellion may occur at an annual general meeting or through a proxy battle. Shareholders may also threaten to collapse a firm's stock price through concentrated selling. In 1998, the Rockefeller family led a shareholder revolt against Exxon over its climate change policy. In 2005, Michael Eisner retired after Walt Disney's nephew, Roy Disney, led a shareholder revolt, claiming Eisner was a micromanager who had caused a creative brain drain. In 2010, British Petroleum and Shell faced a shareholder revolt over their Canadian tar sands policy.
Recently, shareholder rebellions have occurred over the issue of executive compensation at Cable and Wireless and Shell; Shell in response unveiled a plan to curb executive compensation and bonuses. According to some analysts, institutional shareholders have been lax about holding management accountable because they were concentrating on picking correct stocks rather than protecting their interests in the stocks they owned.
Shareholder revolts are becoming more common, with a record number of advisory “Say on Pay” votes in the US failing to win majority support in 2018.
VOTE YOUR PROXY. ...
Dominion Energy Offers $1 Million in Critical Community Needs Grants
but they cut the div 1/3
I do not have any shares in this stock but this is a real Long Haul however with Eco it’s a perfect time because of how much eco across the board is pushing out bad footprints such as oil will be part of the swing , this company will prevail....
Dominion Energy's for sure a great deal. I understand there's some controversy from shareholders that aren't happy with the companies direction, but I don't share their woes & will happily snap up their shares.
Dominion continuing to make more enemies in S.C. I see. SCE&G had developed a very nice large sandy beach area on the west side of the Lake Murray Dam many years ago open to the public. Dominion will again keep it closed this summer same as last year due to public safety. (They don't want to pay for lifeguards or keep the enhanced property/casualty coverage on it). On the opposite side of the Dam the largest public boat ramp area owned/operated by Dominion is open so they can't use covid as an excuse. Looks like Dominion is also going to sell Pine Island which is exclusive to SCE&G/dominion employees for years. Several boat ramps, 20 covered picnic areas on the water, large presentation/convention building, snack bar and olympic sized pool. Imagine how much money dominion will be able to get for that 27 acre prime waterfront island and then spend most of that money on woke #$%$ via donations like they are currently doing? SCE&G employees and dominion customers have been screwed since the acquisition. Karma is coming dominion, I would dumb this stock if I were a shareholder.
In reading the posts, all I see is a lot of infighting. Let’s face it D has issues strategically and operationally. I am as disappointed as anyone but things will get better. Keep the faith...
Stock price the same as it was 5 years ago, dividend was cut by a third and the stock is still way overvalued.
Curious...... who on this board will vote "no confidence in our board" on this year's proxy?
steadily making a comeback.
What's the Average Profit Margin for a Utility Company?
By SEAN ROSS
Updated Aug 24, 2020
Profits for utility companies range widely from country to country and region to region. In part, due to barriers to entry and other legislative restrictions on competition, both laterally and horizontally. In 2019, the average net profit margin in the utility sector was 9% based on data from CSI Market. For the second quarter of 2020, the average trailing 12 months (TTM) net profit margin was 9.5%.
As far as other margins, the utility sector had an average gross margin of 60% for 2019 and earnings before interest, taxes, deprecation, and amortization (EBTIDA) margin of 22.7%. The sector's gross margin for the TTM as of Q2 2020 was 67%, and EBITDA margin was 22.3%.
To gain a perspective on the range in profit margins across the sector, we can compare the most recent profit margins of two different electric utilities operating in different parts of the world. Spark Infrastructure Group and Duke Energy (DUK). Spark Infrastructure Group supplies electric power and infrastructure across Australia and reported a net profit margin of 29% for 2019. In contrast, Duke Energy runs generation projects in the U.S. and Canada and had a net profit margin of 15%.
The average net profit margin in the sector was 9% in 2019 and for the trailing 12 months (TTM) as of Q2 2020 was 9.5%.
The average gross margin was 60% in 2019 and the average earnings before interest, taxes, depreciation, and amortization (EBITDA) margin was 22.7%.
The average profits for utilities can vary based on where the company operates, given regulatory differences.
Regulations and the high cost of entry into the industry make it difficult for competitors to enter profitable areas in the utility sector.
However, rate-making does restrict the profit margins of utilities.
Public Utilities and the Ratemaking Process
Despite wide ranges among different countries, the utility sector experiences relatively high-profit margins in the U.S. Utility companies run de facto monopolies in the regions where they operate, making it difficult for competitors to move into profitable areas and apply competition for energy revenue. Part of this is due to the extremely high levels of capital investment necessary to supply energy, but most of it is from local and federal government restrictions on new projects.
State governments in the U.S. use utility rate-making to fix the prices that utility companies can charge to customers. This also necessarily restricts utility companies’ profit margins. The legal mandate for these providers to go through the rate-making process is another reason why utility companies tend to become natural monopolies.
Public utilities required to go through the rate-making process in the U.S. typically include telecommunications providers, natural gas providers, electricity companies, and railroads.
Typically, profits act as a signal to other companies or entrepreneurs that a valuable service is being provided above-cost in a given region. This attracts competitors and, eventually, works to reduce profits and improve products. However, given regulations and high startup costs, this doesn't necessarily hold true for the utility sector.
The rate-making process for public utility providers has five goals:
Attract capital to the sector
Incentivize efficiency in production and distribution of utilities
Control demand for utilities or ration them to consumers
Redistribute wealth from consumers to utility owners and between classes of consumers
Traditionally, regulators use the following rate-making formula to determine a utility provider’s revenue needs:
R = O + (V – D)r
R = the utility’s rate level or revenue requirement
O = the utility company’s operating expenses
V = the value of the utility’s intangible or tangible property
D = the provider’s accrued depreciation
r = the rate of return that the utility company is allowed to receive on its capital investment
Because it allows the utility company to receive a rate of return on its capital investments, the traditional model encourages utility providers to invest more capital into their operations—the more capital the utility company and its investors put in, the bigger the returns.
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