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 announced the expiration and final results of its tender offer to purchase its outstanding 4.65% Series B Preferred Stock. The offer expired on June 4, 2024, with 439,590 shares validly tendered, representing $439,590,000 in aggregate liquidation preference. The company accepted all tendered shares for an aggregate cost of $438,491,025, excluding accrued dividends and fees. This represents approximately 55% of the total issued shares. Following the tender offer, 360,410 shares, worth $360,410,000, remain outstanding. The company plans to settle on June 6, 2024. Barclays, J.P. Morgan, and Mizuho Securities acted as dealer managers; D.F. King & Co. was the tender and information agent.
Dominion Energy Virginia has completed the burial of 2,000 miles of power lines as part of its Strategic Underground Program, launched in 2014 to reduce storm-related outages and speed up restoration. This initiative targets the most outage-prone areas to enhance grid resilience. The company plans to extend the program to bury several thousand additional miles of overhead lines in the coming years. Another resilience effort, the Mainfeeder Hardening program, aims to replace older poles with more robust ones, and has already hardened over 265 miles of power lines since 2019, aiming for 1,000 miles by 2030. The Atlantic hurricane season, starting June 1, is projected to be active. Dominion Energy reminds customers to prepare by reporting outages, avoiding downed lines, charging devices, properly connecting generators, and stocking emergency supplies.
On June 3, 2024, Dominion Energy (NYSE: D) announced the completion of the sale of Questar Gas Company and Wexpro Company to Enbridge Inc. (TSX: ENB, NYSE: ENB) for approximately $4.3 billion, which includes assumed debt and adjustments for customary closing items. The transaction, initially announced on September 5, 2023, involves Questar Gas, a natural gas utility serving 1.2 million customer accounts across Utah, Wyoming, and Idaho, and Wexpro, which supplies natural gas under a cost-of-service agreement.
Dominion Energy also revealed plans to finalize the sale of its gas distribution company in Gastonia, N.C., to Enbridge later this year. Dominion Energy serves over 4.5 million customers in 13 states and aims for Net Zero emissions by 2050.
Dominion Energy announced the installation of the first monopile foundation for the Coastal Virginia Offshore Wind (CVOW) project. The 2.6-gigawatt wind farm, expected to be completed by late 2026, aims to provide clean energy to 660,000 homes and generate $3 billion in fuel savings over the first decade. The installation was carried out by DEME Group's Orion vessel, which employs advanced Vibro Hammer technology. The project has engaged over 800 Virginia-based workers and will create over 1,000 jobs for ongoing operations. Environmental precautions include seasonal installation pauses and bubble curtains to protect marine life.
Dominion Energy (NYSE: D) has declared a quarterly dividend of 66.75 cents per share of common stock, payable on June 20, 2024, to shareholders of record as of May 31, 2024. This marks the 385th consecutive dividend payment to common stockholders. The company's last quarterly dividend was declared on Jan. 26, 2024.
Dominion Energy, Inc. has announced a tender offer to purchase any and all of its outstanding 4.65% Series B Preferred Stock at a purchase price of $997.50 per share. The company plans to use the proceeds from a recent junior subordinated notes offering to fund the tender offer. The offer expires on June 4, 2024, with the Settlement Date expected to be on June 6, 2024.
Dominion Energy, Inc. announced first-quarter 2024 GAAP net income of $0.78 per share and operating earnings of $0.55 per share. The company affirms its full-year 2024 and 2025 operating earnings guidance. Dominion Energy will host a webcast to discuss recent financial results.
Dominion Energy, Inc. refutes claims of delay in the Coastal Virginia Offshore Wind (CVOW) project, stating they are false and misrepresentative. The company asserts that the project remains on track and within budget, dismissing the plaintiffs' petition as lacking merit.
FAQ
What is the current stock price of Dominion Energy (D)?
What is the market cap of Dominion Energy (D)?
What is Dominion Energy's primary business?
Where is Dominion Energy headquartered?
What are Dominion Energy's sustainability goals?
What recent projects has Dominion Energy undertaken?
How did Dominion Energy perform financially in Q1 2024?
What is the Coastal Virginia Offshore Wind (CVOW) project?
How many employees are engaged in the CVOW project?
Where can I find more information about Dominion Energy?
When will Dominion Energy achieve net zero emissions?
What is Dominion Energy's stock symbol?
