Dominion Resources (D) is one of the largest producers and transporters of energy, with a portfolio of nearly 24,600 megawatts of generation assets, 12,200 miles of natural gas transmission, gathering and storage pipeline and 6,455 miles of electric transmission lines.
Dominion is among the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves utility and retail energy customers in 13 states.
Dominion is gradually building up its renewable assets through organic and inorganic routes. The company aims to achieve renewable energy goals of 15% in Virginia by 2025 and 12.5% in North Carolina by 2021.
Estimate Trend & Surprise History
Dominion has seen a flat track record when it comes to current quarter estimate revisions, as there has been no revision on either side over the past few weeks.
Coming to the earnings surprise, Dominion Resources has surpassed the Zacks Consensus Estimate in two of the last four quarters, resulting in a positive average surprise of 0.12%.
Zacks Rank: Currently, Dominion Resources has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Dominion Resources’ second quarter 2015 EPS of 73 cents came in line with the Zacks Consensus Estimate.
Revenue: Revenues however lagged the expectations. Dominion Resources posted revenues of $2,747 million, missing our consensus estimate of $2,931 million.
Key Stats: Dominion Resources’ electric delivery customers increased 1.1% year over year to nearly 2.52 million. The company reaffirmed its earnings guidance for 2015 in the range of $3.50–$3.85 per share and guided third-quarter 2015 earnings in the band of 95 cents to $1.10 per share.
Stock Price: Shares were down about 2.1% ahead of the report and remained inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this Dominion Resources earnings report later!
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