D · 10-Q · 2026Q3 · Full report
Capital Allocation
DOMINION ENERGY, INC · 2026-10-30 · Importance 52 · Surprise 42 · No source text
In October 2025, Dominion Energy increased the capacity available under its February 2025 at-the-market program by $1.8 billion. During the first and second quarters of 2026, it entered into forward sale agreements for approximately 3.2 million and 7.9 million shares, respectively, at weighted-average initial prices of $62.96 and $67.88 per share. During the nine months ended September 30, 2026, Dominion Energy issued $40 million of stock through its direct stock purchase programs, net of fees and commissions. Through September 30, 2026, the company said it had not repurchased and did not plan to repurchase common shares in 2026, except for employee tax-withholding shares.
Key facts
- In October 2025, Dominion Energy increased the maximum capacity available under its February 2025 at-the-market program by $1.8 billion.
- In the second quarter of 2025, Dominion Energy entered forward sale agreements for approximately 11.0 million shares, expected to settle in the fourth quarter of 2026, at a weighted-average initial forward price of $55.83 per share.
- In the third quarter of 2025, Dominion Energy entered forward sale agreements for approximately 9.6 million shares, expected to settle by the fourth quarter of 2027, at a weighted-average initial forward price of $61.11 per share.
- In the second quarter of 2026, Dominion Energy entered forward sale agreements for approximately 7.9 million common shares, expected to settle by the fourth quarter of 2026, at a weighted-average initial forward price of $67.88 per share.
- Dominion Energy expects to invest approximately $1.5 billion in the Valley Link arrangement from 2026 through 2030.
- In the third quarter of 2025, Dominion Energy entered forward sale agreements for approximately 2.4 million common shares, expected to settle by the fourth quarter of 2027, at a weighted-average initial forward price of $59.91 per share.
- In the first quarter of 2026, Dominion Energy entered forward sale agreements for approximately 3.2 million common shares, expected to settle by the fourth quarter of 2027, at a weighted-average initial forward price of $62.96 per share.
- In February 2025, Dominion Energy entered into a new at-the-market program.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -1.0% | Dominion Energy expects to invest approximately $1.5 billion in the Valley Link arrangement from 2026 through 2030. |
| cash | positive | committed | +0.4% | In the second quarter of 2025, Dominion Energy entered forward sale agreements for approximately 11.0 million shares, expected to settle… |
| cash | positive | committed | +0.4% | In the third quarter of 2025, Dominion Energy entered forward sale agreements for approximately 9.6 million shares, expected to settle by… |
| cash | positive | committed | +0.4% | In the second quarter of 2026, Dominion Energy entered forward sale agreements for approximately 7.9 million common shares, expected to… |
| cash | positive | committed | +0.1% | In the first quarter of 2026, Dominion Energy entered forward sale agreements for approximately 3.2 million common shares, expected to… |
| cash | positive | committed | +0.1% | In the third quarter of 2025, Dominion Energy entered forward sale agreements for approximately 2.4 million common shares, expected to… |