Momentum Stock Watch: Dominion Energy, Inc. (D)

Company Profile:

Dominion Energy is committed to sustainable, reliable, affordable and safe energy and is one of the nation’s largest producers and transporters of energy with about $100 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution and import/export services. The company was formerly known as Dominion Resources, Inc. and changed its name to Dominion Energy, Inc. in May 2017. Dominion Energy, Inc. was founded in 1909 and is headquartered in Richmond, Virginia.

Recent News:

The company reported operating earnings for the three months ended March 31, 2019, were $873 million ($1.10 per share), compared with operating earnings of $741 million ($1.14 per share) for the same period in 2018. Dominion Energy expects second quarter operating earnings in the range of $0.70 to $0.80 per share, compared to second-quarter 2018 operating earnings of $0.86 per share.

On June 12, 2019, the company announced that it has priced its offering of 14,000,000 2019 Series A Equity Units, initially consisting of 14,000,000 2019 Series A Corporate Units. Dominion Energy increased the size of the offering to 14,000,000 Corporate Units from 12,500,000 Corporate Units.

The board of directors of Dominion Energy has declared a quarterly dividend of 91.75 cents per share of common stock. Dividends are payable on June 20, 2019, to shareholders of record at the close of business June 7, 2019.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

D’s strengths can be seen in its better growth and strong profitability compared with its peers. Its revenue has increased over recent several years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator, the RSI(14) stands at 53.87 with positive bias. We rate Dominion Energy, Inc. (D) a STRONG BUY.

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