Dominion Energy Granted Approval to Resume Offshore Wind Project
The U.S. District Court for the Eastern District of Virginia granted Dominion Energy's request for a preliminary injunction allowing construction to resume on the Coastal Virginia Offshore Wind project while Dominion Energy's lawsuit challenging the agency's action proceeds, the company announced. "Our team will now focus on safely restarting work to ensure CVOW begins delivery of critical energy in just weeks. While our legal challenge proceeds, we will continue seeking a durable resolution of this matter through cooperation with the federal government. CVOW will consist of 176 offshore wind energy turbines generating a total of 2.6-gigawatts - enough energy to power up to 660,000 homes. CVOW is a critical part of Dominion Energy's all-of-the-above diverse energy supply strategy to meet our region's growing demand," Dominion Energy stated.
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High-Yield Stock Analysis and Rating Updates
- Edison International Rating Update: Barclays analyst Nicholas Campanella maintains an Overweight rating on Edison International (EIX) while lowering the price target from $68 to $67, reflecting a 65% accuracy rate, despite the company posting upbeat quarterly results recently.
- Brookfield Infrastructure Outlook: Jefferies analyst Anthony Linton keeps a Buy rating on Brookfield Infrastructure Partners (BIP) with a price target of $35, with a 50% accuracy rate, as the company prepares for its fourth-quarter conference call on January 29, which may influence investor sentiment.
- Dominion Energy Rating Dynamics: Barclays analyst Nicholas Campanella maintains an Overweight rating on Dominion Energy (D) while cutting the price target from $64 to $63, indicating a cautious market outlook with a 65% accuracy rate from analysts.
- Market Reaction and Earnings Call: Dominion Energy plans to host its fourth-quarter earnings call on February 23, which could impact stock prices, particularly in light of the recent adjustments to analysts' price targets.

Winter Storm Fern Disrupts U.S. Industries, Over 10,000 Flights Canceled
- Flight Cancellations: Over 10,000 flights were canceled on Sunday due to Winter Storm Fern, prompting Delta Air Lines and American Airlines to adjust staffing and aircraft positioning, highlighting significant operational challenges faced by the airline industry.
- Energy Production Decline: U.S. crude oil production is expected to drop by approximately 300,000 barrels per day, with the Permian Basin potentially losing 200,000 barrels, leading to price volatility in energy markets and impacting overall economic stability.
- Retail Sector Risks: As icy conditions worsen, retailers and restaurants reliant on weekend foot traffic face sales pressure, with companies like Walmart and Kroger at risk of Q4 earnings declines due to potential inventory spoilage from extended outages.
- Utility Response: Utilities such as Entergy and Dominion have activated storm response teams to address potential outages and infrastructure damage, demonstrating a strong commitment to consumer service amid challenging weather conditions.









