Warm Weather Benefits Dominion Resources' 3Q Results; Millstone Remains a Near-Term Concern
We are reaffirming our $76 fair value estimate and wide moat and stable moat trend ratings after Dominion Resources reported third-quarter operating earnings per share of $1.14 versus $1.03 in the same period last year. The strong results were primarily due to warm weather in the recently ended quarter. Dominion reaffirmed its 2016 operating EPS guidance of $3.60-$4.00, in line with our $3.76 estimate.Although Dominion currently trades near our fair value estimate, it is one of the cheapest U.S...
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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