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Strength Seen in Dominion Energy (D): Can Its 5.1% Jump Turn into More Strength?
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Dominion Energy (D - Free Report) shares ended the last trading session 5.1% higher at $60.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.3% loss over the past four weeks.
Dominion Energy’s portfolio realignment and focus on regulated assets is evident from its investments in regulated infrastructure, which will boost its performance in the long term. Dominion divested some of its merchant generation facilities and electric retail energy marketing business to focus on core regulated operations.
Dominion Energy recently released its plans to bring 21.1 GW of new clean energy capacity online over the next 15 years, while continuing to rely on gas-fired resources as demand continues to grow at unprecedented levels. The company has entered a memorandum of understanding with Amazon to explore commercial and financing structures in the interest of advancing small modular reactor development in Virginia.
This energy company is expected to post quarterly earnings of $0.93 per share in its upcoming report, which represents a year-over-year change of +20.8%. Revenues are expected to be $4.1 billion, up 7.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Dominion Energy, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on D going forward to see if this recent jump can turn into more strength down the road.
Dominion Energy is part of the Zacks Utility - Electric Power industry. NiSource (NI - Free Report) , another stock in the same industry, closed the last trading session 1.8% higher at $35.10. NI has returned 0.9% in the past month.
NiSource's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.15. Compared to the company's year-ago EPS, this represents a change of -21.1%. NiSource currently boasts a Zacks Rank of #2 (Buy).
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Strength Seen in Dominion Energy (D): Can Its 5.1% Jump Turn into More Strength?
Dominion Energy (D - Free Report) shares ended the last trading session 5.1% higher at $60.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.3% loss over the past four weeks.
Dominion Energy’s portfolio realignment and focus on regulated assets is evident from its investments in regulated infrastructure, which will boost its performance in the long term. Dominion divested some of its merchant generation facilities and electric retail energy marketing business to focus on core regulated operations.
Dominion Energy recently released its plans to bring 21.1 GW of new clean energy capacity online over the next 15 years, while continuing to rely on gas-fired resources as demand continues to grow at unprecedented levels. The company has entered a memorandum of understanding with Amazon to explore commercial and financing structures in the interest of advancing small modular reactor development in Virginia.
This energy company is expected to post quarterly earnings of $0.93 per share in its upcoming report, which represents a year-over-year change of +20.8%. Revenues are expected to be $4.1 billion, up 7.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Dominion Energy, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on D going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Dominion Energy is part of the Zacks Utility - Electric Power industry. NiSource (NI - Free Report) , another stock in the same industry, closed the last trading session 1.8% higher at $35.10. NI has returned 0.9% in the past month.
NiSource's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.15. Compared to the company's year-ago EPS, this represents a change of -21.1%. NiSource currently boasts a Zacks Rank of #2 (Buy).