Virginia-based power and energy firm Dominion Energy’s (D) second-quarter 2021 financial results have missed estimates. The company supplies natural gas and electricity to customers in Georgia, Utah, Virginia, Ohio, South Carolina, North Carolina and Pennsylvania.
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Adjusted earnings per share (EPS) came in at $0.76, marginally behind the Street’s estimate of $0.77 but higher than the year-ago EPS of $0.73. (See Dominion stock chart on TipRanks)
Operating revenue totaled $3.04 billion, lower than analysts’ expectations of $3.76 billion. The company had reported the same at $3.1 billion last year.
For the third quarter, Dominion expects adjusted EPS to be in the range of $0.95 to $1.10. Furthermore, it expects adjusted EPS for full-year 2021 to be between $3.70 and $4.
Last month, RBC Capital analyst Shelby Tucker maintained a Hold rating on the stock with a price target of $87 (14.5% upside potential). The analyst expects the company to report EPS of $1.23 in the third quarter.
Overall, the stock has a Moderate Buy consensus rating based on 4 Buys and 2 Holds. The average Dominion Energy price target of $85.33 implies a 12.3% upside potential to current levels. The company’s shares have lost 5.1% over the past year.
According to TipRanks’ Smart Score rating system, Dominion scores a 9 out of 10, suggesting that the stock is likely to outperform market averages.
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