Dominion Energy Inc (D · NYSE)

Dominion Energy shares sit at $61.64, down 13.1% over three months and 13.1% below their 52-week high, with a Virginia State Corporation Commission hearing on the proposed $67 billion merger with NextEra Energy drawing public opposition. The company beat estimates in three of its last four quarters, most recently reporting $0.79 versus $0.73 expected, though quarterly net income fell sequentially to $340.0 million in the June quarter from $621.0 million in March, and earnings are down 58.0% year over year against 17.6% revenue growth. Leverage remains heavy at $53.42 billion in total debt (6.4x EBITDA), and free cash flow was negative $1.20 billion last quarter as capex of $2.78 billion outpaced $1.57 billion in operating cash flow. The stock trades at 21.4x earnings with an analyst target of $71.58.