Dominion Midstream (DM) reported earnings on Fri 27 Apr 2018 (b/o)

•   
  Update RICHMOND, Va., Jan. 28, 2019 /PRNewswire/ -- Dominion Energy, Inc. (NYSE: D), and Dominion Energy Midstream Partners, LP (NYSE: DM), announced today that they have completed their proposed merger pursuant to the definitive merger agreement announced on Nov. 26, 2018.  The merger resulted in Dominion Energy acquiring all the outstanding public common units of Dominion Energy Midstream Partners in exchange for Dominion Energy common shares and Dominion Energy Midstream Partners becoming an indirect, wholly owned subsidiary of Dominion Energy.    

** charts before earnings **

 

** charts 5 days after earnings **

Dominion Midstream beats by $0.01, misses on revs

• Reports Q1 (Mar) earnings of $0.39 per share, $0.01 better than the Capital IQ Consensus of $0.38; revenues fell 15.4% year/year to $110.1 mln vs the $205.96 mln two analyst estimate.
• Adjusted EBITDA were $79.5 million for the first-quarter, and distributable cash flow was $52.1 million for the quarter. The distribution coverage ratio was 1.23 times at the end of the first-quarter.

=Dominion Energy (D) to buy Scana (SCG)

• Dominion Energy and SCANA Corporation (SCG) announce a stock-for-stock merger in which SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock for each share of SCANA common stock, the equivalent of $55.35/per share

REUTERS - Dominion Energy Inc said on Wednesday it would buy Scana Corp in an all-stock deal worth about $7.9 billion, offering the utility a way out of dealing with unhappy customers and federal investigations following a failed nuclear project.

Dominion will pay Scana's customers $1.3 billion, averaging about $1,000 for each customer, and has promised to cut bills by 5 percent to appease users who have been overcharged for years as Scana funded the nuclear project.

Shares of Dominion, which will also assume Scana's debt of $6.7 billion, were down 3 percent.

Dominion's $55.35 per share offer represents a premium of 42.4 percent to Scana's last closing price of $38.87. Scana's shares were trading well below the offer price at $47.79, suggesting some investors were skeptical of the deal.

Scana, which owns the South Carolina Electric & Gas Co (SCE&G), has been under pressure ever since it scrapped the V.C. Summer nuclear project in July after spending about $9 billion on it with Santee Cooper.

Scana was funding some of the project's costs from SCE&G, a move that angered customers and led to the utility rolling back electricity rates for residential users.

The nuclear project became a lightning rod for criticism, with local politicians arguing over who should pay for the aborted project.

South Carolina Governor Henry McMaster said while the deal is a step in the right direction, it will not resolve all problems for customers.

=Dominion Energy (D) reported earnings on Mon 30 Oct 2017 (b/o)

Dominion Energy beats by $0.02, misses on revs; guides Q4 EPS in-line 

• Reports Q3 (Sep) operating earnings of $1.04 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.02; revenues rose 1.5% year/year to $3.18 bln vs the $3.31 bln Capital IQ Consensus.
• Co issues in-line guidancefor Q4, sees EPS of $0.80-1.00 vs. $0.91 Capital IQ Consensus Estimate.
• "The Cove Point Liquefaction construction is effectively complete and the facility is going through its advanced-commissioning phase. The work continues on-time and on-budget and we expect to be in-service by the end of the year...Our 1,588 megawatt Greensville County combined cycle power station is approximately 60 percent complete and is expected to begin commercial operations in late 2018. Since our last earnings call we've made exciting announcements around our investment in solar-powered generation for a $1 billion Facebook facility in Virginia, steps toward the development of a large pumped storage power generation facility, and progress on our off-shore wind project."