Dominion Energy (D) PT Lowered to $62 at Truist Securities
Truist Securities analyst Richard Sunderland lowered the price target on Dominion Energy (NYSE: D) to $62.00 (from $66.00) while maintaining a Hold rating.
The analyst commented: "Dominion Energy (D, Hold, $62 PT): Merger progress is picking up and set to bracket the quarter; CVOW and Millstone also topical. After D and NextEra Energy (NEE, NR) sweetened the proposed VA benefits package as a step towards securing state approval of the companies' combination (marking an expected development in the overall regulatory review process), we highlight this marker and upcoming intervenor testimony (VA 10/19; SC 10/28) and hearings (VA in Nov; SC in Dec) as merger milestones bracketing 3Q. We expect there will be no surprise to talking points on this process, emphasizing VA benefits from the latest package across affordability, workforce, and clean energy. While this transaction sits firmly in the spotlight, CVOW progress (with weather an item to monitor going forward), D’s VA IRP (due 10/15; in focus for an updated battery storage view), and Millstone contracting status (seemingly tracking an announcement by year end) all stand out for business updates and discussion. That said, approvals and sentiment around the D/NEE transaction remain the biggest driver of D, in our view, and we continue to see VA’s compact statutory process as a distinct timing advantage for the review. Ahead of 3Q26 earnings, we model $1.24 for the quarter and $3.59 for 2026, in line with the company’s $3.45-3.69 full year guidance."
