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Why the Market Dipped But Dominion Energy (D) Gained Today

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Dominion Energy (D - Free Report) ended the recent trading session at $45.22, demonstrating a +1.16% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.1%. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.3%.

Prior to today's trading, shares of the energy company had lost 5.56% over the past month. This has was narrower than the Utilities sector's loss of 5.77% and lagged the S&P 500's gain of 5.78% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Dominion Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on February 22, 2024. On that day, Dominion Energy is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 62.26%. Our most recent consensus estimate is calling for quarterly revenue of $3.81 billion, down 22.54% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Dominion Energy. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.09% downward. As of now, Dominion Energy holds a Zacks Rank of #3 (Hold).

Looking at its valuation, Dominion Energy is holding a Forward P/E ratio of 14.59. For comparison, its industry has an average Forward P/E of 14.08, which means Dominion Energy is trading at a premium to the group.

Meanwhile, D's PEG ratio is currently 1.85. 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 industry currently had an average PEG ratio of 2.53 as of yesterday's close.

The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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