Welcome to our dedicated page for Dominion Energy news (Ticker: D), a resource for investors and traders seeking the latest updates and insights on Dominion Energy stock.
Dominion Energy, Inc. (NYSE: D), headquartered in Richmond, VA, is a leading provider of electricity and natural gas, servicing approximately 7 million customers across 13 states. The company's mission is to deliver sustainable, reliable, affordable, and safe energy.
Dominion Energy is committed to achieving net zero emissions of carbon dioxide and methane from its power generation and gas infrastructure operations by 2050. One of the company's most significant recent achievements includes the launch of Charybdis, the United States' first Jones Act-compliant offshore wind turbine installation vessel. This vessel marks a crucial step in the company's Coastal Virginia Offshore Wind (CVOW) project, the largest offshore wind farm under construction in the U.S., aimed to generate enough renewable energy to power 660,000 homes by 2026.
Financially, Dominion Energy recently reported a net income of $674 million for the first quarter of 2024. The company continues to provide robust financial guidance, affirming its full-year 2024 operating earnings range of $2.62 to $2.87 per share. Dominion Energy also conducted a tender offer for its 4.65% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, reflecting its strategic financial maneuvers to optimize its capital structure.
The company is actively involved in various partnerships and community engagements. It has more than 800 Virginia-based workers engaged in the CVOW project, creating significant local job opportunities and driving economic development.
For the latest updates and detailed information about Dominion Energy, please visit DominionEnergy.com.
Dominion Energy (NYSE: D) announced leadership changes in its Gas Distribution and South Carolina segments, effective January 1, 2022. Donald R. Raikes will retire as president of Gas Distribution, succeeded by P. Rodney Blevins, who will transition from his role as president of Dominion Energy South Carolina. W. Keller Kissam will take over Blevins' position. Blevins will oversee operations serving 3 million gas customers across several states, while Kissam will manage the South Carolina utility serving 1.1 million customers.
Dominion Energy has declared a quarterly dividend of 63 cents per share of common stock, payable on Dec. 20, 2021 to shareholders of record as of Dec. 3, 2021. This marks the 375th consecutive dividend paid by Dominion or its predecessor company, showcasing a strong commitment to returning value to shareholders. The previous dividend was declared on Aug. 4, 2021.
Dominion Energy (NYSE: D) announced awareness of a fraudulent news release regarding earnings ahead of its scheduled third-quarter earnings call on Nov. 5, 2021, at 10 a.m. ET. The company clarified that it has not released any earnings information prior to this date. A live webcast of the call and financial results will be available on its investor website. The company serves over 7 million customers across 16 states and is committed to achieving net-zero emissions by 2050.
On October 18, 2021, Dominion Energy Virginia announced a settlement agreement with the Virginia State Corporation Commission and other stakeholders regarding its triennial base rate case. If approved, it will offer over $330 million in customer refunds, including $255 million over six months. The agreement supports key investments like the Coastal Virginia Offshore Wind project and aims for 100% clean energy by 2045. Furthermore, it proposes a $50 million rate reduction, positioning customer rates significantly below national averages.
Dominion Energy (NYSE: D) is set to host its third-quarter 2021 earnings call on November 5, 2021, at 10 a.m. ET. This call will address significant financial results and other topics relevant to stakeholders. A live webcast will be available on the investor information page, alongside accompanying financial slides. For those preferring a telephonic participation, domestic and international dialing options are provided. A replay will be accessible later in the day of the call, ensuring stakeholders have the opportunity to review the discussion.
Southwest Gas Holdings (SWX) announced the acquisition of Dominion Energy Questar Pipeline for $1.545 billion in cash, along with assuming $430 million in debt. The acquisition targets a strategic enhancement in the Rocky Mountain region, adding 2,160 miles of FERC-regulated pipelines. Expected to close by December 31, 2021, the deal aims to be accretive to earnings per share in 2022, providing increased cash flow and value for shareholders. The transaction marks a significant step in Southwest Gas's energy transition strategy.
Dominion Energy (NYSE: D) has signed a definitive agreement to sell Questar Pipelines to Southwest Gas Holdings Inc. for $1.975 billion, including $430 million in debt. This transaction focuses on its FERC-regulated assets in Utah, Wyoming, and Colorado, expected to close in Q4 2021, pending regulatory approvals. Proceeds will reduce parent-level debt and support Dominion's capital plan for major decarbonization efforts. The sale aligns with the company’s strategy to enhance its clean-energy portfolio and utility service capabilities.
Dominion Energy Virginia, along with NABTU and state affiliates, reaffirms its commitment to a unionized workforce for the Coastal Virginia Offshore Wind (CVOW) project. They aim to promote local hiring, veteran training, and inclusivity for disadvantaged communities. The CVOW project, the largest of its kind in the U.S., is set to produce 2.6 gigawatts of energy by 2026, powering up to 660,000 homes. This initiative could create 1,100 jobs and generate $210 million in annual economic benefits in Hampton Roads. Governor Northam highlights the project's role in enhancing clean energy jobs in Virginia.
Dominion Energy Virginia has proposed a transformative expansion of solar and energy storage projects in Virginia, filing with the State Corporation Commission. This initiative includes 11 utility-scale solar projects, two small-scale solar projects, and a combined solar and storage project, aiming to deliver over 1,000 MW of carbon-free electricity. With an estimated economic impact of $880 million and the potential to create 4,200 clean energy jobs, this move is positioned as a significant step toward the Virginia Clean Economy Act's goals. Residential customer bills are expected to increase by approximately $1.13 monthly.
Dominion Energy and The Nature Conservancy have joined forces to develop the Highlands Solar project on former coal mine sites in Southwest Virginia. This initiative will cover approximately 1,200 acres and produce around 50 megawatts of solar energy, enough to power 12,500 homes. The project aims to stimulate local economies, increase tax revenues, and create clean energy jobs. It aligns with Virginia's goals for a 100% clean energy economy by 2045. Construction is expected to begin in 2024 or 2025, pending approvals.
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