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Dominion Energy Inc D

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Dominion Energy Reports Solid Q2 Results as COVID-19 Impact Diminishes

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are reaffirming our fair value estimate of $80 per share after wide-moat Dominion Energy reported solid 2020 second-quarter operating earnings per share of $0.82 versus $0.77 in the same period in 2019, discussed the impact of COVID-19 on electric sales, and fine-tuned its planned equity capital market financing activities over the next five years. The second-quarter results were not adjusted for the recently announced sale of most of the assets in the gas, storage, and transmission segment.

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Company Profile

Business Description

Based in Richmond, Virginia, Dominion Energy is an integrated energy company with approximately 30 gigawatts of electric generation capacity and more than 93,000 miles of electric transmission and distribution lines. In 2019, Dominion completed a liquefied natural gas export facility in Maryland. It is in late-stage development for a 2.6 GW wind farm 27 miles off the Virginia Beach coast. The wind farm would be the largest in the U.S.

120 Tredegar Street
Richmond, VA, 23219
T +1 804 819-2000
Sector Utilities
Industry Utilities - Diversified
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type High Yield
Employees 19,100