Price Crosses Moving Average
|Bid||102.64 x 1000|
|Ask||102.97 x 800|
|Day's Range||99.68 - 103.79|
|52 Week Range||75.93 - 113.82|
|Beta (5Y Monthly)||0.39|
|PE Ratio (TTM)||59.66|
|Forward Dividend & Yield||7.25 (7.30%)|
|Ex-Dividend Date||May 27, 2020|
|1y Target Est||N/A|
Dominion Energy, Inc. (NYSE: D) will host its first-quarter earnings conference call at 10 a.m. ET on Tuesday, May 5, 2020. Management will discuss first-quarter financial results and other matters of interest to the financial community.
State regulators ordered Duke Energy Carolinas, Duke Energy Progress and Dominion Energy North Carolina to respond by April 9 to the petition filed last week that utilities would get a "windfall" profit from standard minimum charges during the coronavirus pandemic.
Fear of rising rates, objections to the $8.5 billion-plus bill to clean up coal-ash problems and anger over a $9 billion failed nuclear project combined with changing politics have put utility regulation reform on the table in the Carolinas.
Such a broad wholesale power market would eaken the monopoly on power sales enjoyed by major southern power companies like Duke Energy Corp., Dominion Energy Inc., The Southern Co. and NextEra Energy.
(Bloomberg) -- U.S. utilities have lined up more than $15 billion in cash and credit as uncertainty over the coronavirus strains the short-term debt market.Electricity giants including American Electric Power Co., Duke Energy Corp. and Dominion Energy Inc. have sold bonds, entered into new credit facilities or drawn on existing lines to boost liquidity. It follows a surge in costs in the commercial paper market, forcing companies to look for alternatives.“We expect to continue to see utilities drawing on credit lines,” Shahriar Pourreza, an analyst at Guggenheim Securities LLC, said in a research note, citing AEP’s $1 billion credit agreement announced Monday. The move is a conservative stance to shore up funds, he said. “We do not see it in any way a sign of overall liquidity risk.”Utilities have also benefited from their defensive nature to issue new debt as the corporate bond market has been open mostly to the highest-quality investment-grade issuers. Banks have enjoyed similar status in comprising much of the recent supply, as well as frequent telecom and media issuers including Verizon Communications Inc. and Comcast Corp.New York utility Consolidated Edison Inc was the latest to tap the credit market with two bond offerings Thursday totaling $1.6 billion. That’s pushed the total amount sold by power and gas suppliers this month to about $9.6 billion, adding to at least $6 billion in new credit lines with banks, according to data compiled by Bloomberg. Xcel Energy Inc. is also seeking to sell $500 million in notes.It has come at a higher cost, as the coronavirus sell-off has sent bond prices down. NextEra Energy Inc.’s $1.1 billion sale of five-year notes Tuesday, through its Florida Power & Light subsidiary, priced at 237.5 basis points over comparable Treasuries. That’s more than twice as much as the company agreed to pay in a similar deal a year ago.NextEra declined to comment.Duke was still able to lock in record-low rates in a sale of $550 million in 30-year notes. Last week the company announced it had a new $1.5 billion term loan and borrowed $500 million from an existing line.“The majority of the funding will be used to reduce our commercial paper balances,” spokesman Neil Nissan said by email. “When the short-term funding markets return to a more stable environment, we may elect to rely on commercial paper like normal.”Other deals include AEP’s $1 billion credit agreement, which the company will use in part to pay down short-term debt. “We took these actions to fortify our liquidity in the challenging markets,” AEP spokeswoman Melissa McHenry said by email. The company earlier this month also raised almost $1.2 billion through bond offerings.Dominion tapped $1.2 billion in new bank lines while selling $750 million in notes last week, although the bonds were already part of its 2020 financing plans, spokesman Ryan Frazier said.“Yet given market volatility, Dominion Energy has taken prudent steps to increase liquidity via other financing transactions,” he said, noting that Dominion has no plans to drawn on its $6 billion master credit facility.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
As previously disclosed, Dominion Energy, Inc. (NYSE: D), will hold its annual meeting of shareholders on Wednesday, May 6, 2020, at 9:30 a.m. ET.
While utilities could come under pressure during the coronavirus crisis, some analysts say the stocks should continue to play their defensive role while also giving investors an attractive yield.
The Dominion Energy Charitable Foundation is committing $1 million to aid COVID-19 relief efforts across the United States. The funds will support national organizations, such as the American Red Cross, as well as address local needs.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Dominion Energy announced today its Environmental Education and Stewardship Grants program, which will provide up to $1.5 million for environmental grants through the Dominion Energy Charitable Foundation. This competitive program is designed to support nonprofit organizations and schools working to improve the environment and provide educational experiences in communities served by Dominion Energy.
The U.S. Securities and Exchange Commission (SEC) today filed a complaint in the U.S. District Court for the District of South Carolina against SCANA Corporation, South Carolina Electric & Gas Company (now known as Dominion Energy South Carolina, Inc.), and two former SCANA executives. The complaint alleges violations of federal securities laws that occurred between 2015 and 2017, before the Dominion Energy-SCANA Corporation combination was completed on Jan. 1, 2019.
Two former executives at a South Carolina utility lied repeatedly to regulators and investors about the progress of construction of two nuclear reactors taking more than a billion dollars out of the pockets of investors and ratepayers, federal securities officials said.
Dominion Energy, Inc. (NYSE: D), will hold its annual meeting of shareholders on Wednesday, May 6, 2020, at 9:30 a.m. ET. Details of the annual meeting will be included in the proxy statement delivered to shareholders in late March.
Dominion Energy is adding 16 new schools to its Solar for Students Program, giving students across Virginia and the Carolinas a hands-on experience with solar energy.
Dominion Energy Virginia received approval from the State Corporation Commission (SCC) to move forward with four battery storage pilot projects to pave the way for additional energy storage technology needed to support the company's commitment to achieve net zero carbon and methane emissions by 2050, increase in renewables and to improve grid reliability.