Dominion Reports Strong 1Q and Provides Update on Financing Plan; Underlying Fundamentals Intact
We are reaffirming our $84 per share fair value estimate, wide moat and stable moat trend ratings after Dominion Energy reported strong 2018 first-quarter earnings and updated investors on their financing plans after a surprise federal regulatory notice on March 15 related to pipelines' tax recapture. We are also reaffirming our 2018 EPS estimate of $4.05 after Dominion raised its EPS guidance above the midpoint of its previous $3.80-$4.25 range.With 40%-plus decline in Dominion Energy Midstre...
Dominion Energy is a holding company. Through its subsidiaries , the company is engaged in producing and transporting energy. The company's operations are conducted through its subsidiaries: Virginia Electric and Power Company, which is a regulated public utility that generates, transmits and distributes electricity for sale in Virginia and North Carolina; and Dominion Energy Gas Holdings, LLC, which serves as the intermediate parent company for the company's Federal Energy Regulatory Commission-regulated interstate natural gas transmission pipeline and underground storage systems in the eastern and Rocky Mountain regions, as well as for the liquefied natural gas import/export and storage facility.
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