Published on: 2026-02-23
Dominion reports earnings today, Monday, February 23, 2026, with the earnings call scheduled for 11:00 a.m. ET.
D stock last traded around $65.96, after a strong run into mid-February that pushed the shares close to their 52-week high.
When a regulated utility trades near the upper end of its recent range, the market typically seeks clear confirmation that it can align earnings growth, capital expenditures, and dividends without putting stress on the balance sheet.
The market reaction to D stock will depend on whether Dominion's results and outlook support a straightforward narrative: consistent earnings growth, reliable dividends, and ongoing progress on its substantial investment plan.
The most common near-term drivers are:
Operating earnings per share versus expectations (a clean read on core utility performance).
2026 guidance tone, especially whether Dominion stays aligned with its long-term growth targets.
Updates on major capital projects, particularly offshore wind timing and cost control.
Comments on data center-driven demand and cost recovery, because grid spending is rising across the U.S.
Financing and interest-rate sensitivity, since utilities rely heavily on capital markets.
While estimates vary, most forecasts range from $0.64 to $0.69 EPS for the quarter, with revenue expectations around mid-$3.6 billion.
| Metric | Common estimate | Plausible range |
|---|---|---|
| EPS (quarter) | ~$0.65 | ~$0.64 to ~$0.69 |
| Revenue (quarter) | ~$3.65B | ~$3.6B to ~$3.8B |
Dominion is not priced like a high-growth company, so the market usually does not demand perfection. What it demands is predictability.
Here are the items that most often move D stock right after the release.
Dominion has been guiding investors to a longer runway, not a one-quarter story.
In its most recent quarterly update, the company reaffirmed 5% to 7% long-term operating EPS growth through 2029, anchored on the 2025 operating EPS midpoint excluding a specific tax-credit item.
On today's call, the market will focus on one key point: whether management's tone continues to support the long-term growth expectation or becomes more conditional.
Dominion has pledged to a multi-year investment strategy aimed at enhancing the grid to accommodate rising demand, particularly from major power consumers.
The company's capital plan for 2025–2029 is approximately $50.1 billion, an increase from its previous plan.
Capital spending is not automatically bullish. It is bullish only when the market believes:
Regulators will allow recovery on a reasonable timetable
The balance sheet stays under control
Dominion has described proposed rate structures and timing that can reshape earnings visibility.
It has discussed proposed base rate changes that would take effect in 2026 and 2027, and it has also described a proposed new rate class for high-energy users, including large power customers.
For traders, the key is not the politics. The key is the calendar. If regulatory timing looks slower or more contested than expected, the market often discounts the earnings path.
The offshore wind build is one of the biggest "prove it" projects in Dominion's story. The company stated that the project is on track for completion by the end of 2026 and has provided updates on progress and costs.
On earnings day, the market typically reacts to three phrases:
"On schedule," because schedule slippage tends to hit financing costs.
"Cost updated," because cost creep matters even in regulated frameworks.
"Recovery framework," because the stock trades best when the recovery path sounds straightforward.
Dominion declared a quarterly dividend of $0.6675 per share, payable March 20, 2026, with shareholders of record as of February 27, 2026.
Dividend investors will seek reassurance that cash flow and financing plans align with the payout, especially in a market that continues to require utilities to fund substantial projects while maintaining stable leverage.
Options pricing suggests the market is braced for a move of about 5.0% around earnings.
Using the latest price near $65.96, that implies a rough earnings window of:
Downside: about $62.66
Upside: about $69.26
If the stock moves within that band, traders usually pivot quickly from the headline to the guidance wording. If it breaks outside that band, it usually means the outlook surprised the market.
D has been on an upward trend since late 2025, though it has not progressed linearly. The shares pulled back after touching a 52-week high of around $67.57 on February 17.
| Period | Return | What it tells you |
|---|---|---|
| 1 week | -0.83% | A pause after a sharp run-up |
| 1 month | +8.27% | Momentum was positive into earnings |
| 6 months (approx.) | ~+9% | A steady climb, not a blow-off top |
| YTD | +12.58% | The market has rewarded the story so far |
How the 6-month number is estimated: D traded around $60.35 in late August 2025 and closed at $65.96 on February 20, 2026, for a roughly 9% gain over that span.
From a technical analysis perspective, D has been in an uptrend since early January, with the price holding above key longer-term moving averages.
| Indicator | Latest value | Practical read |
|---|---|---|
| Last price | $65.96 | Price is near the top of its recent range going into the event. |
| RSI (14) | 62.169 | Momentum is positive, but it is not stretched. |
| MACD (12,26) | 0.19 | Trend signal remains supportive. |
| ADX (14) | 40.486 | Trend strength is meaningful, so reactions can follow through. |
| ATR (14) | $0.3613 | Normal daily swings are relatively contained outside of earnings. |
| MA20 (simple) | $65.33 | First area that often acts like near-term support. |
| MA50 (simple) | $65.44 | A second support layer that matters if the first selloff fades. |
| MA100 (simple) | $63.70 | A deeper support zone if the reaction turns risk-off. |
| MA200 (simple) | $61.90 | A key "line" that often defines the longer-term trend. |
Daily technical readings show:
RSI (14): 62.169 (positive momentum, not extreme)
MACD (12,26): 0.190 (trend support)
These are short-term pivots that can help you read the first reaction without overthinking it.
| Type | S1 | Pivot | R1 |
|---|---|---|---|
| Classic | 65.92 | 66.04 | 66.12 |
| Fibonacci | 65.96 | 66.04 | 66.12 |
If the stock holds above the moving-average cluster near the mid-$65 area after the first wave of trading, it usually signals that dip buyers are comfortable with the outlook.
Dominion Energy's fourth-quarter 2025 earnings call is scheduled for 11:00 a.m. ET on February 23, 2026. The webcast is expected to include slides and supporting financial information.
The bigger driver is the 2026 outlook and tone, including how Dominion frames its earnings growth path and how it plans to fund and recover large grid investments over time.
Utilities often carry substantial debt and finance extensive capital programs. Changes in long-term yields can alter borrowing costs and affect the relative attractiveness of dividend-paying stocks versus bonds.
Yes. If guidance is cautious or if management highlights higher costs, regulatory friction, or project risks, investors can still sell the stock after a positive earnings surprise. This is especially common when the stock has already rallied into earnings.
In conclusion, Dominion earnings today are likely to be judged less on one quarter and more on the road ahead. Investors seek steady operating earnings, consistent dividend coverage, and reliable execution of a large investment program tied to rising power demand.
If management delivers clear 2026 framing and maintains confidence in major projects, the stock has room to stay firm near recent highs. If guidance softens or cost and regulatory questions grow louder, D stock can give back part of its recent run, even if the quarter itself looks fine.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
