Virginia-based power and energy firm Dominion Energy’s (D) second-quarter 2021 financial results have missed estimates. The company supplies natural gas and electricity to customers in Georgia, Utah, Virginia, Ohio, South Carolina, North Carolina and Pennsylvania.
Adjusted earnings per share (EPS) came in at $0.76, marginally behind the Street’s estimate of $0.77 but higher than the year-ago EPS of $0.73. (See Dominion stock chart on TipRanks)
Operating revenue totaled $3.04 billion, lower than analysts’ expectations of $3.76 billion. The company had reported the same at $3.1 billion last year.
For the third quarter, Dominion expects adjusted EPS to be in the range of $0.95 to $1.10. Furthermore, it expects adjusted EPS for full-year 2021 to be between $3.70 and $4.
Last month, RBC Capital analyst Shelby Tucker maintained a Hold rating on the stock with a price target of $87 (14.5% upside potential). The analyst expects the company to report EPS of $1.23 in the third quarter.
Overall, the stock has a Moderate Buy consensus rating based on 4 Buys and 2 Holds. The average Dominion Energy price target of $85.33 implies a 12.3% upside potential to current levels. The company’s shares have lost 5.1% over the past year.
According to TipRanks’ Smart Score rating system, Dominion scores a 9 out of 10, suggesting that the stock is likely to outperform market averages.
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