Dominion Energy Inc Stock Price, News & Analysis

Dominion Energy is expanding its Net Zero commitments to encompass emissions beyond its direct operations, targeting both Scope 2 and material categories of Scope 3 emissions. This ambitious initiative aims for Net Zero carbon and methane emissions by 2050. The company plans to engage with suppliers and customers to decarbonize, initially focusing on three critical areas: electricity purchased for the grid, fuel for power stations, and consumption by gas customers. Supported by state officials and industry leaders, Dominion is investing in cleaner energy solutions, including renewable natural gas and hydrogen technology.

Dominion Energy reported strong financial results for Q4 2021, with a net income of $1.3 billion ($1.63/share), a significant increase from $682 million ($0.82/share) in Q4 2020. For the entire year, net income reached $3.3 billion ($3.98/share), reversing a loss of $401 million in 2020. Operating earnings also grew to $752 million ($0.90/share) in Q4 2021, up from $672 million ($0.81/share) the previous year. The company announced a $690 million sale of its West Virginia utility, DEWV, to Ullico, expected to close later this year, and provides 2022 operating earnings guidance of $3.95 to $4.25/share.

The board of directors of Dominion Energy has declared a quarterly dividend of 66.75 cents per share of common stock. This dividend will be payable on March 20, 2022, to shareholders of record as of March 4, 2022. Notably, this marks the 376th consecutive dividend paid by Dominion Energy or its predecessor. The previous dividend was declared on Nov. 3, 2021.

Dominion Energy Charitable Foundation has recognized five nonprofit arts organizations in Virginia as the 2022 Dominion Energy ArtStars. Each organization, operating with annual budgets under $1 million, received a $10,000 grant to support arts and cultural education programs. Winners include Todd Rosenlieb Dance, Dogtown Dance Theatre, Encore Stage & Studio, Charlottesville Ballet, and Clifton Forge School of the Arts. This initiative highlights the commitment to inspire creativity and support local communities. In 2021, Dominion Energy contributed over $48 million to community causes across 13 states.

Dominion Energy is launching the CarbonRight program in Utah and Idaho to help customers offset their carbon emissions from natural gas use. Starting March 2022, customers can participate voluntarily by purchasing carbon offsets for $5 per month, potentially achieving 'net zero' emissions. The offsets originate from certified projects aimed at reducing landfill emissions and enhancing forest management. This initiative aligns with Dominion's commitment to sustainable energy and aims to improve Utah's air quality.

Dominion Energy Charitable Foundation has awarded $1.5 million in environmental stewardship grants to 115 organizations across 10 states. These grants support community efforts to enhance environmental education and conservation. Notable projects funded include Audubon South Carolina's avian research, Blue Sky Fund's nature-based education for elementary students, and Girl Scouts of Connecticut's STEM program. Over the past 16 years, the foundation has contributed over $38 million to various environmental projects. This commitment reflects Dominion Energy's mission to promote environmental stewardship.

Dominion Energy Virginia is gearing up for a winter storm set to impact its service area starting January 16, 2022. The anticipated storm may bring snow, ice, sleet, and high winds, posing a risk of power outages. To enhance response efforts, Dominion has mobilized crews with assistance from utilities as far as Louisiana and Oklahoma. Preparations include replenishing essential resources in areas critically affected during the previous storm. Customers are advised to report outages via the Dominion Energy app or hotline and prepare emergency kits.

Dominion Energy (NYSE: D) is set to host its fourth-quarter 2021 earnings call on February 11, 2022, at 10 a.m. ET. Key financial results will be discussed during this call, accessible via live webcast on the investor information pages. For those preferring to join by phone, specific dial-in numbers are provided for domestic and international callers, along with a passcode. A replay will be available later the same day on their investor site. Dominion Energy serves around 7 million customers across 13 states and is committed to achieving net-zero emissions by 2050.

The Virginia State Corporation Commission approved Phase II of Dominion Energy's Grid Transformation Plan, enabling over $650M in investments for 2022 and 2023. This plan aims to optimize the electric grid for distributed energy resources, including renewable energy, energy storage, and electric vehicles. The initiative aligns with Virginia's decarbonization goals and ensures affordable rates while enhancing reliability. Dominion Energy is committed to achieving net zero emissions by 2050, and this phase focuses on integrating smart technology to improve grid operations.