Dominion Energy Inc Stock Price, News & Analysis

Dominion Energy Virginia has proposed a transformative expansion of solar and energy storage projects in Virginia, filing with the State Corporation Commission. This initiative includes 11 utility-scale solar projects, two small-scale solar projects, and a combined solar and storage project, aiming to deliver over 1,000 MW of carbon-free electricity. With an estimated economic impact of $880 million and the potential to create 4,200 clean energy jobs, this move is positioned as a significant step toward the Virginia Clean Economy Act's goals. Residential customer bills are expected to increase by approximately $1.13 monthly.

Dominion Energy and The Nature Conservancy have joined forces to develop the Highlands Solar project on former coal mine sites in Southwest Virginia. This initiative will cover approximately 1,200 acres and produce around 50 megawatts of solar energy, enough to power 12,500 homes. The project aims to stimulate local economies, increase tax revenues, and create clean energy jobs. It aligns with Virginia's goals for a 100% clean energy economy by 2045. Construction is expected to begin in 2024 or 2025, pending approvals.

Dominion Energy is offering $1.5 million in environmental grants through its Charitable Foundation, encouraging nonprofits and educational organizations to apply. Since 2003, the foundation has donated nearly $37 million to various environmental projects. Eligible organizations from states like Virginia and North Carolina can seek funding for short-term projects focused on environmental education and habitat preservation. This initiative aims to foster environmental stewardship and improve community resources.

Dominion Energy (NYSE: D) has announced the redemption of its 2016 Series A 5.25% Enhanced Junior Subordinated Notes due 2076, totaling $800 million in outstanding principal. The redemption is set for August 31, 2021, with a price of 100% of the principal plus accrued interest of $0.109375 per $25. The decision aligns with the company's strategy to optimize its fixed income obligations. The Paying Agent for this transaction is Deutsche Bank Trust Company Americas.

Dominion Energy Ohio emphasizes the importance of calling 811 before any digging project, in recognition of National 811 Day on August 11. This law mandates notifying Ohio811 to mark underground utility lines, significantly enhancing safety and preventing service interruptions. The service is free and should be used by both professionals and DIYers. Notably, striking utility lines can lead to hazardous situations and expensive repairs, underscoring the need for this precautionary step. Dominion Energy is committed to providing reliable and safe energy to its customers.

Dominion Energy (NYSE: D) announced significant carbon-reduction goals for its fleet of over 8,600 vehicles as part of its Green Fleet initiative. By 2030, the company aims for 75% of passenger vehicles and 50% of work vehicles to be powered by electricity or cleaner alternatives. All new vehicle purchases will be electric or alternative fuel after 2030. Additionally, Dominion Energy is expanding EV charging infrastructure, enhancing its commitment to sustainability and net zero emissions by 2050.

Dominion Energy (NYSE: D) reported a net income of $285 million ($0.33 per share) for Q2 2021, a notable recovery from a net loss of $1.2 billion ($1.52 per share) in Q2 2020. Operating earnings stood at $628 million ($0.76 per share), slightly down from $630 million ($0.73 per share) a year earlier. The company reaffirmed its Q3 2021 operating earnings guidance of $0.95 to $1.10 per share and a full-year guidance range of $3.70 to $4.00 per share. Additionally, Dominion plans to discuss detailed financial results in an earnings call today at 10 a.m. ET.