Key Stats for Dominion Energy Stock
- Past-Week Performance: -4.2%
- 52-Week Range: $48.1 to $67.6
- Current Price: $62.6
What Happened?
Dominion Energy‘s 30% capital plan expansion to $65 billion through 2030, anchored by the world’s largest data center market serving Alphabet, Amazon, Microsoft, and Meta, repositions the utility from a steady income name into a regulated infrastructure growth story trading at $62.57.
On February 23, management delivered a Q4 operating EPS beat of $0.68 against a $0.67 consensus while simultaneously announcing the $65 billion five-year capital plan, driving a 10% rate base CAGR and locking in long-term earnings growth biased to the upper half of the 5% to 7% guidance range starting 2028.
Underpinning that capital expansion is a 48-gigawatt data center pipeline as of December 2025, up 1.4 gigawatts from September, with forecasted demand through 2045 already fully covered by existing signed ESAs and CLOAs requiring no additional inquiry-stage projections.
Further strengthening the growth case, PJM awarded Dominion a transmission portfolio exceeding $5 billion on February 13, representing the largest such award in company history, while a South Carolina rate case decision is expected in June with rates effective July.
Meanwhile, CFO Steven Ridge stated on the Q4 earnings call that “we now expect to achieve the upper half of the 5% to 7% growth rate range starting in 2028,” as the Coastal Virginia Offshore Wind project crosses 70% completion with first power targeted by end of March.
Looking out three to five years, Dominion’s combination of a $65 billion regulated investment pipeline, 20% data center load CAGR since 2016, and secured turbine slots for five gas generation projects positions the company to deliver accelerating earnings power well into the early 2030s.
Wall Street’s Take on D Stock
The $65 billion capital plan and 48-gigawatt data center pipeline that drove Dominion’s Q4 beat directly support a forward revenue trajectory of $17.1 billion in 2026, representing 3.9% growth on top of 2025’s already strong 14.2% revenue surge.
The fundamental numbers back the bull case: forward EPS is projected at $3.59 in 2026, up 4.9% from $3.42, while EBITDA margins are forecast to expand to 49.6% from 47.9%, reflecting the operating leverage embedded in Dominion’s regulated capital deployment.
As of March 5, Wall Street’s 20 covering analysts arrive at a mean price target of $64.94, implying roughly 3.8% upside from the current $62.57 close, with 3 buys or outperforms, 15 holds, and 2 underperforms reflecting cautious but improving sentiment.
The target spread runs from $54.00 on the low end to $69.00 on the high, where the bull case hinges on CVOW delivering first power by end of March and the South Carolina rate case approval expected in June.
What Does the Valuation Model Say?
The TIKR valuation model prices Dominion at $91.99 under mid-case assumptions, implying 47% total return potential through December 2030 at an 8.3% annualized IRR.
The market appears to be underpricing the structural shift embedded in Dominion’s $65 billion capital plan, which is 30% larger than its previous five-year budget and anchored by the world’s largest data center market.
A 10% rate base CAGR alongside a 20% data center load CAGR since 2016 makes the 15-hold analyst consensus feel like a sentiment lag rather than a fundamental verdict.
Management’s own language reinforced that view, with the upper-half earnings growth bias starting 2028 signaling confidence in a back-end loaded compounding story the Street has not yet fully priced.
Furthermore, each additional quarter of delay beyond July 2027 adds $150 million to $200 million in CVOW costs, directly threatening the $11.5 billion project budget.
The June South Carolina rate case decision and CVOW’s first-power milestone by end of March will be the two near-term data points that confirm whether the $65 billion capital deployment is on track.
Dominion is a regulated infrastructure compounder hiding behind a utility label, and the CVOW completion timeline is the single most important number to watch right now.
Should You Invest in Dominion Energy, Inc.?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up D stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
You can build a free watchlist to track Dominion Energy, Inc. alongside every other stock on your radar. No credit card required. Just the data you need to decide for yourself.
Access Professional Tools to Analyze D stock on TIKR for Free →
