Dominion’s growth prospects look uncertain, says Argus

Argus keeps a Hold rating on Dominion, noting that while the company’s Q2 revenue and earnings reported last month increased year over year partly due to restatement of year-earlier results, the firm also sees its growth prospects as uncertain given the natural gas asset sales following an extended strategic review. Dominion has seen improved industrial demand and strong residential usage, but it also relies heavily on data center customers in Virginia and will need to make significant infrastructure investments to expand in this market, the analyst tells investors in a research note.