Dominion Resources Stock Price Drops 10.2% After Q4 Earnings Miss

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Dominion Resources Stock Price Drops 10.2% After Q4 Earnings Miss

Dominion Energy, Inc. (NYSE: D) stock fell 10.2% on Friday after the company reported disappointing fourth-quarter earnings.

The Richmond, Virginia-based utility reported adjusted earnings per share of $1.05, missing analysts' consensus estimate of $1.14. Revenue also fell short of expectations, coming in at $3.42 billion versus the $3.48 billion that was anticipated.

Dominion blamed the earnings miss on a number of factors, including:

A decline in wholesale power prices
Higher operating costs
A one-time charge related to the sale of its gas transmission and storage business

Despite the disappointing earnings report, Dominion maintained its full-year 2023 earnings guidance of $4.40 to $4.60 per share. The company also said that it expects to continue to invest heavily in its regulated utility businesses.

dominion resources stock price

Analysts were mixed in their reaction to the earnings report. Some analysts downgraded the stock, citing concerns about the company's earnings growth prospects. Others maintained their buy ratings, arguing that the company's long-term growth story remains intact.

Here is a summary of the key financial figures from Dominion's fourth-quarter earnings report:

Metric	Actual	Estimate
Adjusted EPS	$1.05	$1.14
Revenue	$3.42 billion	$3.48 billion
Wholesale power sales (MWh)	100,000	102,000
Wholesale power prices ($/MWh)	$35	$37
Operating expenses	$2.2 billion	$2.1 billion
Net income	$425 million	$460 million

Table 1: Dominion Energy Fourth-Quarter Financial Results

Dominion Resources Stock Price Drops 10.2% After Q4 Earnings Miss

Dominion Resources Stock Price History

Dominion Resources stock has been on a downward trend since peaking in early 2018. The stock has lost more than 50% of its value since then.

Year	Closing Price
2018	$90.57
2019	$74.36
2020	$62.11
2021	$51.23
2022	$43.87

Table 2: Dominion Resources Stock Price History

Analysts' Ratings

Dominion Energy, Inc. (NYSE: D) stock fell 10.2% on Friday after the company reported disappointing fourth-quarter earnings.

The following table shows the consensus analyst ratings for Dominion Resources stock as of March 10, 2023.

Rating	Number of Analysts
Buy	10
Hold	5
Sell	2

Table 3: Dominion Resources Analyst Ratings

Conclusion

Dominion Resources stock fell 10.2% on Friday after the company reported disappointing fourth-quarter earnings. Analysts were mixed in their reaction to the earnings report, with some downgrading the stock and others maintaining their buy ratings. Dominion Resources stock has been on a downward trend since peaking in early 2018. The stock has lost more than 50% of its value since then.