Dominion Energy, Inc. (NYSE:D), a $48.2 billion utility giant whose stock has surged over 31% year-to-date, has announced the upcoming retirement of Diane Leopold, the company's Executive Vice President, Chief Operating Officer, and President – Contracted Energy.
In preparation for this change, Dominion Energy has revealed that Edward H. Baine, currently the President of Dominion Energy Virginia, will take over the company's utility operations. His new title, effective January 1, 2025, will be President – Utility Operations and Dominion Energy Virginia. Additionally, Eric S. Carr, the Chief Nuclear Officer and President – Nuclear Operations, will expand his responsibilities to include the company's Contracted Energy operating segment. His title will be updated to reflect these new duties.
In other recent news, Dominion Energy reported third-quarter operating earnings of $0.98 per share, surpassing both BMO Capital and consensus estimates. The energy company also refined its full-year 2024 earnings guidance, narrowing the range to $2.68-2.83, while maintaining the midpoint at $2.75. Dominion Energy confirmed its 2025 earnings forecast, maintaining a range of $3.25 to $3.54, with a midpoint of $3.40.
In financial developments, Dominion Energy has entered into an agreement for the sale of $1.25 billion in junior subordinated notes and has made significant strides in debt reduction, reducing $21 billion in debt across six transactions.
On the analyst front, Morgan Stanley (NYSE:MS) initiated coverage on Dominion Resources (NYSE:D) with an Equalweight rating and a price target of $61.00. Goldman Sachs reinstated coverage with a Neutral rating and a similar price target, while BMO Capital Markets adjusted its outlook, reducing the firm's price target on the stock to $59.00.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.