Why Dominion Energy Inc. (D) Surged on Monday

We recently compiled a list of the 10 Firms Post Impressive Gains on Monday. In this article, we are going to take a look at where Dominion Energy Inc. (NYSE:D) stands against the other stocks.

Wall Street ended the first trading day of the week on a mixed note, with the Dow Jones the sole gainer, up 0.65 percent.

The S&P 500 and Nasdaq both fell by a whopping 1.46 percent and 3.07 percent, respectively, over fears that China is overtaking the US in innovations in the Artificial Intelligence industry, dampening confidence at a time when the world’s largest economy is bolstering investments in the sector.

Meanwhile, ten companies under mixed sectors ended the day stronger. In this article, we will take a look at which of the 10 companies posted impressive gains during a broader market pessimism and look at the reasons behind their rally.

Monday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A female engineer examining a new gas pipeline to ensure its safety as construction is underway.

Dominion Energy Inc. (NYSE:D)

Dominion Energy rallied for a third consecutive day on Monday, adding 4.21 percent to finish at $55.73 apiece as investors snapped up shares in the company ahead of its full-year earnings report.

Dominion Energy, which is set to release its earnings performance on February 12, expects to report a 103.5-percent jump in its non-GAAP profit for the fourth quarter of the year at $0.59 per share versus the $0.29 apiece reported in the same period last year.

While the company has missed Wall Street’s earnings projections over the past four quarters, it has surpassed estimates on two other occasions.

During the last reported quarter, adjusted EPS surged 27.3 percent to $0.98 year-on-year.

Overall D ranks 8th on our list of Monday’s top advancers. While we acknowledge the potential of D as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than D but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.