Dominion Energy (D) Gains But Lags Market: What You Should Know

In the latest trading session, Dominion Energy (D) closed at $66.01, marking a +0.73% move from the previous day. The stock lagged the S&P 500's daily gain of 1.19%. Elsewhere, the Dow gained 1.34%, while the tech-heavy Nasdaq lost 0.18%.

Coming into today, shares of the energy company had lost 15.72% in the past month. In that same time, the Utilities sector lost 11.09%, while the S&P 500 lost 0.84%.

Investors will be hoping for strength from Dominion Energy as it approaches its next earnings release, which is expected to be November 4, 2022. The company is expected to report EPS of $1.08, down 2.7% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.91 billion, up 23.13% from the prior-year quarter.

D's full-year Zacks Consensus Estimates are calling for earnings of $4.11 per share and revenue of $16.12 billion. These results would represent year-over-year changes of +6.48% and +15.45%, respectively.

Investors might also notice recent changes to analyst estimates for Dominion Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. Dominion Energy is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Dominion Energy currently has a Forward P/E ratio of 15.95. Its industry sports an average Forward P/E of 16.2, so we one might conclude that Dominion Energy is trading at a discount comparatively.

We can also see that D currently has a PEG ratio of 2.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.78 based on yesterday's closing prices.

The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.