Upside case
Bull case
$137+117.8%
D would need investors to value it at roughly 38x earnings — about 21x more generous than today's 18x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated May 1, 2026
Dominion Energy, Inc. (D) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
31
analysts
11 bullish · 2 bearish · 31 covering D
Strong Buy
0
Buy
11
Hold
18
Sell
2
Strong Sell
0
Consensus Target
$66
+5.2% vs today
Scenario Range
$31 – $137
Model bear to bull value window
Coverage
31
Published analyst ratings
Valuation Context
17.6x
Forward P/E · Market cap $55.4B
D price targets
Three scenarios for where D stock could go
Current
~$63
Confidence
55 / 100
Updated
May 1, 2026
Where we are now
Current · $63
Bear
$31
Base
$59
Bull
$137
Market caseClosest to today
Base case
$59-6.7%
This is close to how the market is already pricing D — at roughly 16x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$31-51.4%
If investor confidence fades or macro conditions deteriorate, a 9x multiple contraction could push D down roughly 51% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Dominion Energy, Inc.
D · NYSEUtilitiesRegulated ElectricDecember year-end
Dominion Energy is a regulated electric and natural gas utility serving customers primarily in Virginia, the Carolinas, and several other states. It makes money through regulated rate structures—earning a return on its infrastructure investments—with its Virginia electric segment contributing roughly half of operating earnings and gas distribution about a third. Its key advantage is its regulated monopoly status in core service territories, providing stable cash flows from essential utility operations.
Market Cap
$55.4B
Revenue TTM
$17.4B
Net Income TTM
$2.4B
Net Margin
13.5%
D Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
42%Exceptional
vs consensus estimates
Avg EPS Surprise
+5.4%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.75/$0.68
Revenue
$3.8B/$3.7B
Q4 2025
EPS
$1.06/$0.95
Revenue
$4.5B/$4.3B
Q1 2026
EPS
$0.68/$0.67
Revenue
$4.1B/$3.6B
Q2 2026
EPS
$0.95/$0.90
Revenue
$5.0B/$4.4B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.75/$0.68 | +10.8% | $3.8B/$3.7B | +4.3% |
| Q4 2025 | $1.06/$0.95 | +11.0% | $4.5B/$4.3B | +6.2% |
| Q1 2026 | $0.68/$0.67 | +1.9% | $4.1B/$3.6B | +12.1% |
| Q2 2026 | $0.95/$0.90 | +5.3% | $5.0B/$4.4B | +13.3% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$18.4B
+5.7% YoY
FY2
$19.9B
+7.9% YoY
EPS Outlook
FY1
$3.12
— YoY
FY2
$3.22
+3.3% YoY
Trailing FCF (TTM)-$4.4B
FCF Margin: -25.0%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
D beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
D Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $16.6B
Product Mix
Latest annual revenue by segment or product family
Dominion Energy Virginia
71.3%
+15.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Dominion Energy Virginia is the largest disclosed segment at 71.3% of FY 2025 revenue, up 15.7% YoY.
D Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Undervalued
Fair value est. $74 — implies +16.0% from today's price.
Upside to Fair Value
16.0%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
D
18.3x
vs
S&P 500
25.1x
27% discount
vs Utilities Trailing P/E
D
18.3x
vs
Utilities
20.1x
9% discount
vs D 5Y Avg P/E
Today
18.3x
vs
5Y Average
27.1x
33% discount
Forward PE
17.6x
S&P 500
19.1x
-8%
Utilities
17.5x
+0%
5Y Avg
—
—
Trailing PE
18.3x
S&P 500
25.1x
-27%
Utilities
20.1x
-9%
5Y Avg
27.1x
-33%
PEG Ratio
—
S&P 500
1.72x
—
Utilities
1.69x
—
5Y Avg
—
—
EV/EBITDA
15.3x
S&P 500
15.2x
+1%
Utilities
11.4x
+35%
5Y Avg
16.8x
-9%
Price/FCF
—
S&P 500
21.1x
—
Utilities
15.1x
—
5Y Avg
—
—
Price/Sales
3.4x
S&P 500
3.1x
+7%
Utilities
2.2x
+56%
5Y Avg
3.6x
-7%
Dividend Yield
4.23%
S&P 500
1.87%
+126%
Utilities
3.06%
+38%
5Y Avg
4.54%
-7%
| Metric | D | S&P 500 | Utilities | 5Y Avg D |
|---|---|---|---|---|
| Forward PE | 17.6x | 19.1x | 17.5x | — |
| Trailing PE | 18.3x | 25.1x-27% | 20.1x | 27.1x-33% |
| PEG Ratio | — | 1.72x | 1.69x | — |
| EV/EBITDA | 15.3x | 15.2x | 11.4x+35% | 16.8x |
| Price/FCF | — | 21.1x | 15.1x | — |
| Price/Sales | 3.4x | 3.1x | 2.2x+56% | 3.6x |
| Dividend Yield | 4.23% | 1.87% | 3.06% | 4.54% |
D trades above S&P 500 benchmarks on 0 of 4 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolD Financial Health
Verdict
Exceptional
D earns 26.3% operating margin on regulated earnings, 4.2% dividend yield. Utilities carry higher leverage than industrials as a structural feature of the business model.
Regulated Operations
Revenue, regulated margins, and earnings
Revenue (TTM)
Trailing-twelve-month sales base
$17.4B
Revenue Growth
TTM vs prior year
+17.1%
Operating Margin
Operating income divided by revenue
26.3%
Net Margin
Net income divided by revenue
13.5%
EPS (TTM)
Diluted earnings per share, trailing twelve months
—
Operating Margin
Operating income over revenue — primary regulated earnings signal
26.3%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
4.3%
ROA
Return on assets, trailing twelve months
2.8%
Cash & Equivalents
Liquid assets on the balance sheet
$250M
Net Debt
Total debt minus cash
$48.7B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
Regulated utilities typically operate at 3–5× net debt/FCF — this is structural, not a risk flag.
ROE
Return on equity, trailing twelve months
7.1%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
4.2%
Dividend
4.2%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$2.66
Payout Ratio
Share of earnings distributed as dividends
76.0%
Shares Outstanding
Current diluted share count
879M
All figures from the trailing twelve months. Utilities operate with structural leverage (3–5× net debt/FCF) due to regulated, predictable cash flows.
Open full ratios pageD Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Debt Burden
Dominion Energy carries substantial debt, with liabilities significantly exceeding its cash and short‑term receivables. The company’s interest coverage is weak and its net debt to EBITDA ratio is high, indicating a heavy debt burden that could constrain future growth.
Medium
Valuation & Value Trap
Analysts note that while Dominion may appear undervalued on certain metrics, there is a risk it could be a "value trap"—a stock that looks cheap for a reason and may not recover as expected.
Medium
Project‑Specific Risk
The Coastal Virginia Offshore Wind (CVOW) project, a key undertaking, has faced preliminary injunctions that have temporarily halted work, potentially delaying revenue and impacting the company’s outlook.
Medium
Historical Market Volatility
Dominion’s share price has suffered significant declines during past downturns (Dot‑Com Bubble, Global Financial Crisis, COVID‑19 sell‑off). A sustained rebound will depend on fundamentals, investor sentiment, and broader market conditions.
Lower
Interest Rate Sensitivity
As an energy company, Dominion is sensitive to changes in interest rates, which can affect capital costs and financing terms, potentially impacting profitability.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why D Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
5.2 GW Virginia Beach Wind Farm
Dominion Energy is constructing a rate‑regulated 5.2 GW wind farm off the Virginia Beach coast. The project is expected to drive future growth prospects by adding a substantial renewable capacity to the company’s portfolio.
$27M Quarterly Liquidity Increase
The company reported a $27 million quarter‑over‑quarter rise in liquidity, indicating a stronger cash position and greater financial flexibility to support expansion and capital projects.
Optimistic Outlook on Office & Consulting
Management expresses confidence in a recovering office market and growing consulting demand, which could enhance revenue streams and improve overall financial performance.
4.2% Annualized Dividend Yield
Dominion Energy offers a solid annualized dividend yield of 4.2%, providing investors with a reliable income stream and reinforcing the company’s shareholder‑friendly stance.
$4.09B Quarterly Revenue Beat
The firm posted strong quarterly revenue of $4.09 billion, surpassing analysts’ expectations and underscoring its operational strength and market demand.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
D Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$62.99
52W Range Position
70%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$52.53
+19.9% from the low
52-Week High
$67.50
-6.7% from the high
1 Month
+1.24%
3 Month
+0.75%
YTD
+6.3%
1 Year
+15.7%
3Y CAGR
+3.7%
5Y CAGR
-4.2%
10Y CAGR
-1.3%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
D vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
17.6x
vs 19.0x median
-8% below peer median
Revenue Growth
+5.7%
vs +4.5% median
+26% above peer median
Net Margin
13.5%
vs 14.5% median
-7% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
D D Dominion Energy, Inc. | $55.4B | 17.6x | +5.7% | 13.5% | Hold | +5.2% |
DUK DUK Duke Energy Corporation | $99.3B | 19.0x | +4.8% | 15.4% | Hold | +6.2% |
SO SO The Southern Company | $108.1B | 21.0x | +4.5% | 14.5% | Hold | +3.9% |
EXC EXC Exelon Corporation | $46.6B | 16.2x | +3.7% | 11.6% | Hold | +6.5% |
AEP AEP American Electric Power Company, Inc. | $74.5B | 21.6x | +8.2% | 16.5% | Buy | -0.6% |
PCG PCG PG&E Corporation | $36.0B | 9.9x | +3.4% | 11.4% | Buy | +40.8% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
D Dividend and Capital Return
D returns 4.2% total yield, led by a 4.23% dividend.
Dividend WatchFCF Unknown
Total Shareholder Yield
4.2%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
4.23%
Payout Ratio
76.0%
How D Splits Its Return
Div 4.23%
Dividend 4.23%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$2.66
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
0.0%
5Y Div CAGR
-5.0%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
879M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.67 | — | — | — |
| 2025 | $2.67 | 0.0% | 0.0% | 4.5% |
| 2024 | $2.67 | 0.0% | 1.8% | 6.7% |
| 2023 | $2.67 | 0.0% | 0.0% | 5.7% |
| 2022 | $2.67 | +6.0% | 3.1% | 7.5% |
FAQ
7 questionsD Investor Questions
Common questions answered from live analyst data and company financials.
01Is Dominion Energy, Inc. (D) stock a buy or sell in 2026?
Dominion Energy, Inc. (D) is rated Hold by Wall Street analysts as of 2026. Of 31 analysts covering the stock, 11 rate it Buy or Strong Buy, 18 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $66, implying +5.2% from the current price of $63. The bear case scenario is $31 and the bull case is $137.
02What is the D stock price target for 2026?
The Wall Street consensus price target for D is $66 based on 31 analyst estimates. The high-end target is $69 (+9.5% from today), and the low-end target is $64 (+1.6%). The base case model target is $59.
03Is Dominion Energy, Inc. (D) stock overvalued in 2026?
D trades at 17.6x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Dominion Energy, Inc. (D) stock in 2026?
The primary risks for D in 2026 are: (1) Debt Burden — Dominion Energy carries substantial debt, with liabilities significantly exceeding its cash and short‑term receivables. (2) Valuation & Value Trap — Analysts note that while Dominion may appear undervalued on certain metrics, there is a risk it could be a "value trap"—a stock that looks cheap for a reason and may not recover as expected. (3) Project‑Specific Risk — The Coastal Virginia Offshore Wind (CVOW) project, a key undertaking, has faced preliminary injunctions that have temporarily halted work, potentially delaying revenue and impacting the company’s outlook. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Dominion Energy, Inc.'s revenue and earnings forecast?
Analyst consensus estimates D will report consensus revenue of $18.4B (+5.7% year-over-year) and EPS of $3.12 for the upcoming fiscal year. The following year, analysts project $19.9B in revenue.
06When does Dominion Energy, Inc. (D) report its next earnings?
A confirmed upcoming earnings date for D is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Dominion Energy, Inc. generate?
Dominion Energy, Inc. (D) had a free cash outflow of $4.4B in free cash flow over the trailing twelve months — a free cash flow margin of 25.0%. D returns capital to shareholders through dividends (4.2% yield) and share repurchases ($0 TTM).