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Why the Market Dipped But Dominion Energy (D) Gained Today
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In the latest close session, Dominion Energy (D - Free Report) was up +1.58% at $61.84. The stock exceeded the S&P 500, which registered a loss of 0.4% for the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq decreased by 0.73%.
The energy company's shares have seen a decrease of 3.58% over the last month, surpassing the Utilities sector's loss of 4.44% and the S&P 500's loss of 7.34%.
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 per share (EPS) are projected to be $0.88, reflecting a 5.38% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.27 billion, up 4.65% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.6 per share and a revenue of $16.75 billion, demonstrating changes of +5.26% and +1.46%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Dominion Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% upward. Dominion Energy presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Dominion Energy is currently exchanging hands at a Forward P/E ratio of 16.91. This expresses a discount compared to the average Forward P/E of 18.45 of its industry.
It's also important to note that D currently trades at a PEG ratio of 1.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.7.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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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Why the Market Dipped But Dominion Energy (D) Gained Today
In the latest close session, Dominion Energy (D - Free Report) was up +1.58% at $61.84. The stock exceeded the S&P 500, which registered a loss of 0.4% for the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq decreased by 0.73%.
The energy company's shares have seen a decrease of 3.58% over the last month, surpassing the Utilities sector's loss of 4.44% and the S&P 500's loss of 7.34%.
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 per share (EPS) are projected to be $0.88, reflecting a 5.38% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.27 billion, up 4.65% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.6 per share and a revenue of $16.75 billion, demonstrating changes of +5.26% and +1.46%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Dominion Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% upward. Dominion Energy presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Dominion Energy is currently exchanging hands at a Forward P/E ratio of 16.91. This expresses a discount compared to the average Forward P/E of 18.45 of its industry.
It's also important to note that D currently trades at a PEG ratio of 1.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.7.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.