D - Stock Market Sell-Off: Is Dominion Energy a Buy?
U.S. utility giant Dominion Energy (NYSE: D) saw its share prices drop roughly 25% over the past year. Even as the shares of peers like Southern Company and Duke Energy have rebounded of late, Dominion's stock continues to flounder. That's left it with an above-peer yield of around 4.6%. After the fourth-quarter 2022 earnings update, it increasingly looks like lower-yielded peers could end up being better long-term opportunities than Dominion. Here's why.
Dominion is, at this point, a fairly simple utility , with most of its revenue driven by the electric and natural gas businesses it operates. However, this was not always the case. In the past the company had its fingers in a vast array of energy businesses, even including oil drilling. Over the last decade, it has worked to simplify its business.
Image source: Getty Images.
For further details see:
Stock Market Sell-Off: Is Dominion Energy a Buy?