Dominion Energy Inc Stock Price, News & Analysis

Dominion Energy (NYSE:D) and Smithfield Foods have successfully completed their first renewable natural gas (RNG) project in Milford, Utah, marking a significant milestone in sustainable energy. This initiative captures methane from hog farms, converting it into clean energy. At full capacity, the project will heat over 3,000 homes and reduce greenhouse gas emissions by more than 100,000 metric tons annually. The companies aim to invest $500 million over the next decade to further develop RNG projects, targeting a reduction of 2.5 million metric tons of emissions from U.S. hog farms.

Dominion Energy and Smithfield Foods have launched a pioneering renewable natural gas (RNG) project in Utah, harnessing methane from 26 family-owned hog farms. This initiative captures significantly more greenhouse gas emissions than are released, rendering the RNG a carbon-beneficial energy source. At full capacity, it will provide enough RNG to heat over 3,000 homes and reduce emissions by over 100,000 metric tons annually. The partners are investing $500 million over the next decade to expand RNG projects nationwide, aiming to slash emissions from U.S. hog farms by 2.5 million metric tons.

Central State University in Wilberforce, Ohio, is set to enhance its summer internship programs, virtual learning access, and scholarship funds following a $500,000 grant from Dominion Energy. This funding is part of Dominion's six-year HBCU Promise initiative, which supports historically black colleges and universities. The grant will enable the launch of a 12-week Dominion Energy Summer Institute, providing students with valuable internships and educational opportunities. Additionally, it will seed a scholarship endowment and improve IT infrastructure to support hundreds of students.

On December 9, 2020, Dominion Energy announced a $500,000 donation to Wilberforce University, supporting STEM education and student success. This gift is part of Dominion's broader $25 million initiative aimed at enhancing educational resources at HBCUs in Virginia, Ohio, South Carolina, and North Carolina. The funding will finance scholarships, the inaugural Bayard Rustin Lecture Series, and provide laptops for all students and faculty. Additionally, Dominion has committed $10 million in scholarships for minority students.

Dominion Energy announced a total of $110,000 in unrestricted grants through its 26th annual Community Impact Awards, aimed at non-profits in Ohio's service area. Since 1996, the program has distributed over $1.8 million to support community organizations contributing to social and economic revitalization. The grants specifically emphasize projects completed between July 2019 and November 2020 that have adapted during the COVID-19 pandemic. Applications are open until December 31, 2020, with winners recognized in Cleveland Magazine's May 2021 issue.

Dominion Energy, headquartered in Richmond, Va., is alerting customers about an anticipated increase in utility scams as the holiday season approaches. During Utility Scam Awareness Week (Nov. 16 – 20), the company provides essential tips to help customers identify and protect themselves from scams. Key advice includes recognizing that Dominion Energy will never demand payment over the phone or request payment via money orders or prepaid cards. Customers are encouraged to verify account information through the Dominion Energy app and report suspicious activities.

Dominion Energy (NYSE: D) has officially declared its support for the Task Force on Climate-related Financial Disclosures (TCFD), aimed at enhancing transparency regarding climate-related risks and opportunities. CEO Robert M. Blue emphasized that such transparency provides a competitive edge and aligns with the company's goal of achieving net zero emissions by 2050. Dominion has been recognized as a 'Trendsetter' in political disclosure for three consecutive years. The company plans to release a new climate report in 2021, outlining its roadmap to net zero emissions and aligning with TCFD recommendations.

Dominion Energy (NYSE: D) reported third-quarter 2020 earnings of $356 million ($0.41 per share), down from $975 million ($1.17 per share) in Q3 2019. Operating earnings were $916 million ($1.08 per share), slightly lower than $946 million ($1.15 per share) year-over-year, benefiting by $0.04 per share from favorable weather. The company maintains a full-year operating earnings guidance between $3.37 and $3.63 per share, with fourth-quarter expectations of $0.73 to $0.87 per share. Dominion reaffirmed its long-term earnings and dividend growth outlook.