Dominion Energy Inc. Gives Up on Its MLP [The Motley Fool]
Dominion Energy, Inc. (D)
Last dominion energy, inc. earnings: 2/11 07:30 am
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Source: The Motley Fool
The utility is the latest energy company to take its master limited partnership private after a government policy change cut into its cash flow. Dominion Energy ( NYSE:D ) announced this week that it has offered to acquire its master limited partnership (MLP) , Dominion Energy Midstream Partners ( NYSE:DM ) , in an all-stock deal. The transaction is the latest in a string of similar deals where corporate parents are buying out their MLPs in the aftermath of an adverse policy change earlier in the year . By giving up on its MLP, Dominion will need to take an alternative route to obtain the necessary funding for its expansion plan. Another one bites the dust Dominion Energy has offered to acquire all the outstanding units of Dominion Energy Midstream that it doesn't already own for $17.75 apiece. At the current exchange ratio, the deal values the MLP at an 8.2% premium to its trading price over the last 30 days. Image source: Getty Images. Dominion
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News
- Dominion Energy (D) Advances But Underperforms Market: Key Facts [Yahoo! Finance]Yahoo! Finance
- Dominion Energy, Inc. (NYSE: D) had its price target raised by analysts at Bank of America Co. from $40.00 to $43.00. They now have an "underperform" rating on the stock.MarketBeat
- Dominion Energy, Inc. (NYSE: D) had its price target lowered by analysts at Scotiabank from $49.00 to $48.00. They now have a "sector perform" rating on the stock.MarketBeat
- New data centers require billions of dollars in utility system upgrades. You may end up paying for it. [Business Insider]Business Insider
- ClearBridge ESG Investment Strategy Q1 2024 Portfolio Manager Commentary [Seeking Alpha]Seeking Alpha
D
Earnings
- 2/22/24 - Miss
D
Sec Filings
- 4/10/24 - Form SC
- 3/25/24 - Form PX14A6G
- 3/22/24 - Form ARS
- D's page on the SEC website