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Dominion energy‘s D shares are up 31.9% year-to-date, compared to the Zacks Utility – Electric Power industry’s growth of 24.1%. During the same period, the company has outperformed the broader Zacks Utilities sector and the Zacks S&P 500 Composite.

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Dominion Energy plans to invest $43 billion through 2029 to strengthen its infrastructure and prevent outages. The company is also working to lower emissions from electricity production. Dominion Energy aims to achieve net-zero carbon and methane emissions from its electricity generation and natural gas infrastructure by 2050.

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Zacks Investment Research


Image source: Zacks Investment Research

The chart below shows that D’s stock is trading above the 50-day and 200-day simple moving averages, indicating a bullish trend.

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Zacks Investment Research


Image source: Zacks Investment Research

Dominion Energy’s portfolio realignment and focus on regulated assets is evidenced by its investments in regulated infrastructure, which will increase the operating period. To focus on its core operations, Dominion Energy divested some of its manufacturing facilities and energy marketing to electric retail.

Recently, Dominion Energy signed a memorandum of understanding with Amazon AMZN to explore innovative new development structures to enhance potential Small Modular Reactor (“SMR”) nuclear development in Virginia. The SMAs will deliver clean energy to customers and meet their long-term needs.

Dominion Energy has a well-thought-out long-term investment plan to strengthen and expand its infrastructure. The company plans to invest $43 billion over the long term to further strengthen its operations. Its long-term goal is to add more battery storage, solar, hydro and wind projects (offshore as well as onshore) by 2036 and increase renewable energy capacity by more than 15% per year on average over the next 15 years.

Dominion Energy is experiencing commercial load growth driven by data center demand. Attractive customer growth across Virginia and South Carolina’s service areas is also increasing demand for their services. The initiatives taken by the company to strengthen its electrical infrastructure will enable it to meet increasing customer demand in a more efficient manner. The company connected 14 new data centers year-to-date through September and expects to connect another 16 data centers in 2024.

Dominion Energy plans to upgrade electrical infrastructure by installing smart meters and grid devices, as well as improve services to customers through the customer information platform. The company is also working on a project to strategically tunnel 4,000 miles of distribution lines. These initiatives will increase the resilience of the company’s operations and enable it to serve the growing customer base more efficiently. It also started the deployment of electricity storage units, which will support its renewable energy projects.