RICHMOND, Va., February 23, 2026, 07:30 EST
- Dominion reported Q4 operating earnings at $0.68 a share and put its 2026 operating EPS guidance in the $3.45 to $3.69 range.
- Utility shares ticked up in premarket after the company stuck to its credit and dividend outlook.
- Several analysts cut price targets going into the print, though most stuck with neutral or positive ratings.
Dominion Energy posted fourth-quarter operating earnings of $0.68 a share Monday, and projected 2026 operating earnings in a range of $3.45 to $3.69 per share. Credit and dividend targets stay unchanged. GAAP net income landed at $0.65 per share, a jump from $0.14 a year ago. Shares climbed roughly 0.8% before the bell. https://www.businesswire.com/news/home/20260222539245/en/Dominion-Energy-announces-2025-financial-results
The forecast comes as U.S. utilities face a tricky spot. Power demand is climbing in key regions, but so are the expenses for fresh infrastructure. Dominion is pushing growth connected to Virginia’s data center boom, though borrowing remains costly.
Back in October, Dominion disclosed it was somewhere in the contracting process to supply data centers with 47 gigawatts of capacity, and had already hooked up roughly 450 data centers in Northern Virginia. “We continue to see robust demand from data centers,” CEO Robert Blue told investors during the call. The utility is targeting a $50 billion capital investment plan spanning 2025 to 2029. https://www.reuters.com/business/energy/dominion-energy-beats-estimates-strong-power-demand-virginia-south-carolina-2025-10-31/
Dominion relies on “operating earnings”—a non-GAAP metric that excludes things like mark-to-market shifts on hedges and fluctuations in the nuclear decommissioning trust fund. For its 2026 guidance, Dominion said roughly $0.07 per share comes from an RNG “45Z” tax credit. The company is sticking with its long-term operating EPS growth target of 5% to 7% through 2030, now leaning toward the higher end for 2028 through 2030.
Analysts polled by Benzinga Pro had pegged quarterly earnings at $0.67 per share, with revenue in the ballpark of $3.65 billion. Lately, Nicholas Campanella at Barclays trimmed his price target to $63, while Shahriar Pourreza of Wells Fargo marked his down to $64. BMO Capital’s James Thalacker lowered his to $65, and TD Cowen’s Shelby Tucker began coverage at Hold, also with a $65 price target, according to Benzinga. https://www.benzinga.com/analyst-stock-ratings/price-target/26/02/50772487/dominion-energy-gears-up-for-q4-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-analysts
AskTraders pointed out the stock was trading roughly 2.4% under its 52-week high going into the report, with a price-to-earnings ratio of about 21.6. That’s a richer multiple than Duke Energy and Southern Company, though it still trails NextEra Energy. https://www.asktraders.com/analysis/dominion-energy-nysed-earnings-on-deck-what-to-expect/
Last week, Nasdaq published a Zacks Investment Research note putting Dominion’s quarterly EPS estimate at $0.64, with revenue forecast at $3.56 billion. The note also mentioned a small dip in the consensus EPS estimate over the past month. https://www.nasdaq.com/articles/dominion-energy-d-stock-declines-while-market-improves-some-information-investors
Still, things could change. Dominion needs regulatory sign-off to recover costs for grid improvements and new power supply. The company also faces pressure to keep project and financing expenses in line with what commissions and customers are willing to accept.
Dominion serves 3.6 million homes and businesses with regulated electricity in Virginia, North Carolina, and South Carolina, according to the company. In South Carolina alone, 500,000 customers get regulated natural gas service from Dominion.
Executives will get on a conference call at 11 a.m. ET Monday to talk through results and the latest guidance. Investors want answers on 2026 spending plans, the rollout speed for new data center infrastructure, and how Dominion intends to uphold its dividend pledges as construction ramps up.
