Morningstar - Dominion Energy Inc (D) Offshore Wind Presents Risks and Opportunities For U.S. Utilities

Report

Morningstar

Charles Fishman

EUR 100.00 For Business Accounts Only

Offshore Wind Presents Risks and Opportunities For U.S. Utilities

After reviewing the latest developments in U.S. offshore wind development, we are reaffirming our fair value estimates, moat ratings, and moat trend ratings for all U.S. utilities.
Utilities in our coverage with the most offshore wind exposure include Avangrid, Eversource Energy, Dominion, and Public Service Enterprise Group. European utility Orsted's U.S. projects in part support our 21% EPS CAGR estimate for the company through 2028.
The U.S. east coast is the focus of activity with more than ...

27/06/2019 15 EN

Underlying

Dominion Energy Inc

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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US25746U1097 New York Stock Exchange United States

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Charles Fishman

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Dominion Energy, Inc.: Higher cost of Coastal Virginia Offshore Wind will increase debt, limit cash recovery prospects and raise social risks

Updated costs will increase debt financing for the project and expose the company to costs that will not be recovered, while increasing political and regulatory scrutiny.

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Offshore Wind Presents Risks and Opportunities For U.S. Utilities

Vital Signs: Actionable charts

Dominion Energy, Inc.: Higher cost of Coastal Virginia Offshore Wind will increase debt, limit cash recovery prospects and raise social risks

Moody's Ratings affirms Dominion Resources Capital Trust III's Baa3 rating; outlook stable

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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