Market Overview

KeyBanc Believes Dominion Energy Is An 'Attractive Green Play'

KeyBanc Believes Dominion Energy Is An 'Attractive Green Play'

Dominion Energy Inc. (NYSE: D) has taken a number of “constructive steps” over the past year to streamline its portfolio and align itself “with a bias toward regulated assets that also support its ESG goals,” according to KeyBanc Capital Markets.

The Dominion Energy Analyst: Sophie Karp upgraded Dominion Energy from Sector Weight to Overweight, while establishing a price target of $80.

The Dominion Energy Thesis: The company’s portfolio has been restructured with “a focus on decarbonizing and leveraging its renewable generation development opportunities,” Karp said.

“The sale of the Gas Storage assets and cancelation of the struggling ACP project put the large 2.64 GW offshore wind project into greater focus,” which seems to align well with both federal and state priorities and offers “attractive rate base recovery mechanisms,” the analyst wrote in a note.

“Imminent catalysts to watch include the potential settlement of the South Carolina rate case, the beginning of proceedings for the Virginia Triennial rate filing, the outcome of the Virginia IRP, and the permitting process for the CVOW (Coastal Virginia Offshore Wind) project with BOEM (Bureau of Ocean Energy Management),” she added.

D Price Action: Shares of Dominion Energy had slipped by 2.5% to $70.84 at the time of publication Tuesday.

Latest Ratings for D

Jan 2021KeyBancUpgradesSector WeightOverweight
Dec 2020Credit SuisseUpgradesNeutralOutperform
Dec 2020B of A SecuritiesUpgradesNeutralBuy

View More Analyst Ratings for D
View the Latest Analyst Ratings


Related Articles (D)

View Comments and Join the Discussion!

Posted-In: KeyBanc Capital Markets Sophie KarpAnalyst Color Upgrades Price Target Analyst Ratings Best of Benzinga

Latest Ratings

MRTXHC Wainwright & Co.Maintains257.0
NVDATruist SecuritiesMaintains672.0
BLKBMO CapitalMaintains715.0
BLKDeutsche BankMaintains838.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at