Mizuho lowered the firm’s price target on Dominion to $46 from $58 and keeps a Neutral rating on the shares. The company announced the sale of all three of its gas distribution companies for an implied 1.5-times rate base valuation with expected after-tax proceeds of $8.7B, the analyst tells investors in a research note. The transaction lowers the firm’s 2025 earnings per shared estimate to $3.27, but it says the deal should significantly improve Dominion’s credit metrics.
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