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Dominion Energy Inc D.N:
DOMINION ENERGY ANNOUNCES REDEMPTION OF 2014 SERIES A ENHANCED JUNIOR SUBORDINATED NOTES
Source text for Eikon: (Full Story)
Further company coverage: D.N
In the latest trading session, Dominion Energy (D) closed at $58.53, marking a +0.64% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.13%. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.52%.
Shares of the energy company witnessed a gain of 3.84% over the previous month, trailing the performance of the Utilities sector with its gain of 5.44% and outperforming the S&P 500's gain of 3.67%.
Market participants will be closely following the financial results of Dominion Energy in its upcoming release. The company is forecasted to report an EPS of $0.94, showcasing a 22.08% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.12 billion, up 8.23% from the year-ago period.
D's full-year Zacks Consensus Estimates are calling for earnings of $2.75 per share and revenue of $15.63 billion. These results would represent year-over-year changes of +38.19% and -4.66%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Dominion Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.05% fall in the Zacks Consensus EPS estimate. Dominion Energy presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Dominion Energy is presently trading at a Forward P/E ratio of 21.13. This indicates a premium in contrast to its industry's Forward P/E of 17.2.
Meanwhile, D's PEG ratio is currently 1.56. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.81.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 21% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
Americans receiving Social Security payments may see less of an increase next year, according to a nonprofit group that represents senior citizens.
The Social Security Administration is poised to announce its yearly cost of living adjustment (COLA) for payments to 71 million Americans in the middle of next month, effective in January 2025. The government agency handed out a 3.2% increase for this year last October.
The Senior Citizens League expects a 2.5% increase for next year, based on inflation falling from 2.9% in July to 2.5% in August.
By law, the annual inflation adjustment is based on the average inflation during July, August, and September as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Read Also: Report Warns of $16,500 Annual Social Security Benefit Cut for Dual-Income Couples by 2033
The Bureau of Labor Statistics averages the CPI-W for these three months and then compares it with the same time frame from the previous year. The percentage difference between the two is the COLA, payable for checks received in January 2025.
The league says the expected 2.5% increase will not be enough for seniors to meet the higher cost of living.
Nearly 80% of senior households report that their monthly budget for essential items like food, housing, and prescription drugs had increased over the last 12 months, according to a 2024 survey taken by the organization. Almost two-thirds — 63% — say they’re worried that their income won’t be enough to cover these basic costs in the coming months.
“Ensuring that seniors have enough to feed and house themselves with dignity is a major reason why we advocate for a minimum COLA of 3%,” said Shannon Benton, the league’s executive director.
She said about two-thirds of seniors rely on Social Security for more than half of their monthly income, and 28% depend on it entirely.
Retirement Stocks
Dividend-yielding, retirement-oriented stocks, typically selected for their risk-averse nature, experienced mixed performance by midday trading on Monday.
Retirement ETFs
Exchange-traded funds that are well suited for retirement trended upward on Monday.
Retirement Plan Stocks
Financial service firms that offer retirement plans were also on the upswing on Monday.
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Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Detroit, Michigan-based DTE Energy Company engages in regulated and unregulated energy businesses. With a market cap of $26.1 billion, DTE Energy generates electricity through coal-fired plants, hydroelectric pumped storage, nuclear plants, and wind and solar assets.
Companies worth $10 billion or more are generally described as "large-cap stocks," DTE Energy fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the regulated electric industry. It sells electricity to customers in various Ohio, Michigan, and Kentucky counties.
DTE Energy touched its 12% gains during the same time frame.
Over the longer term, DTE stock has trailed behind XLU. DTE gained 18.8% over the past 52 weeks and 14.2% in 2024, underperforming XLU’s 22.2% gains over the past year and 24% returns on a YTD basis.
To confirm the bullish trend, DTE has consistently traded above its 200-day moving average since mid-April and above its 50-day moving average since late February with slight fluctuations.
Shares of DTE experienced marginal gains after the release of its robust Q2 earnings release on Jul. 25. The utility giant reported a solid 7.1% year-over-year growth in operating revenues, totaling $2.9 billion. The company also showcased impressive operational efficiency and cost management, curtailing its operating and non-operating expenses, thereby enhancing profit margins.
Its operating income surged by 26.5% year-over-year to $502 million, while net income soared by a staggering 60.2%, reaching $322 million. Additionally, DTE’s adjusted EPS of $1.43 exceeded analysts’ expectations by 19.2%.
DTE Energy’s competitor Dominion Energy, Inc. , has outperformed DTE. D gained 21.8% over the past year and 23.7% in 2024.
Among the 16 analysts covering the DTE stock, the consensus rating is a “Moderate Buy.” The mean price target of $128.38 represents a potential upside of 1.9% from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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