Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Dominion Energy's latest quarterly earnings outline a blend of strategic positioning and operational challenges for the company.</li><li>The company reports operating earnings of $0.98 per share for the third quarter, alongside GAAP earnings of $1.12 per share.</li><li>With nine months of results in, full-year earnings guidance has been slightly narrowed to a range of $2.68 to $2.83 per share, maintaining a midpoint of $2.75.</li></ul>

Dominion Energy's latest quarterly earnings outline a blend of strategic positioning and operational challenges for the company.The company reports operating earnings of $0.98 per share for the third quarter, alongside GAAP earnings of $1.12 per share.With nine months of results in, full-year earnings guidance has been slightly narrowed to a range of $2.68 to $2.83 per share, maintaining a midpoint of $2.75.

Dominion Energy: These Are The 6 Biggest Factors Impacting Its Performance In 2025 &Beyond! - Major Drivers

<ul><li>In the second quarter earnings for Dominion Energy, the company reported that its operating earnings stood at $0.65 per share, showing a notable improvement due to better-than-normal weather which contributed an additional $0.03 per share.</li><li>This was complemented by gains from regulated investment growth and contributions from Millstone, benefiting from the absence of extended duration outages and higher realized power prices Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

In the second quarter earnings for Dominion Energy, the company reported that its operating earnings stood at $0.65 per share, showing a notable improvement due to better-than-normal weather which contributed an additional $0.03 per share.This was complemented by gains from regulated investment growth and contributions from Millstone, benefiting from the absence of extended duration outages and higher realized power prices Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Dominion Energy: How Will They Deal With The Market Volatility in Renewable Energy & Other Challenges? - Major Drivers

<ul><li>Dominion Energy delivered mixed results in the first quarter of 2024, showcasing both resilience and areas needing improvement as it strives to meet its future financial and operational goals.</li><li>The company reported first quarter operating earnings of $0.55 per share, affected by a $0.06 headwind from adverse weather conditions.</li><li>However, the sale of East Ohio Gas Company and various operational management (O&M) timings provided some financial relief.</li></ul>

Dominion Energy delivered mixed results in the first quarter of 2024, showcasing both resilience and areas needing improvement as it strives to meet its future financial and operational goals.The company reported first quarter operating earnings of $0.55 per share, affected by a $0.06 headwind from adverse weather conditions.However, the sale of East Ohio Gas Company and various operational management (O&M) timings provided some financial relief.

Dominion Energy: Initiation of Coverage - A Deep Dive Into Its Core Business Strategy? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Price action on SPX is extremely similar to prior major topping patterns in April 2000 and August 2007, which is why we recommended reducing risk near 5670-5783 last week.</li>
<li>Additional similarities to 2000/2007 (other than price action) include the Fed cutting rates, recession indicators such as the Sahm rule and Schannep Recession Indicator (SRI) triggered, and yield curve un-inverting.</li>
<li>SPX resistance is in the 5670-5783 range; if a major top is happening, that is where it would start from (using the 2000 and 2007 tops as comparisons).</li>
</ul>


Price action on SPX is extremely similar to prior major topping patterns in April 2000 and August 2007, which is why we recommended reducing risk near 5670-5783 last week.
Additional similarities to 2000/2007 (other than price action) include the Fed cutting rates, recession indicators such as the Sahm rule and Schannep Recession Indicator (SRI) triggered, and yield curve un-inverting.
SPX resistance is in the 5670-5783 range; if a major top is happening, that is where it would start from (using the 2000 and 2007 tops as comparisons).


Recessionary Signals as SPX Tests Resistance; Downgrading Energy to Underweight

<ul>
<li>The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.</li>
<li>We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.</li>
<li>After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels </li>
</ul>


The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.
We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.
After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels 


Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?

United States

Dominion Energy, Inc. produces and transports energy products. The Company offers natural gas and electric energy transmission, gathering, and storage solutions. Dominion Energy serves customers in the United States.

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Dominion Energy Inc (D US)

Dominion Energy: These Are The 6 Biggest Factors Impacting Its Performance In 2025 &Beyond! - Major Drivers

Dominion Energy's latest quarterly earnings outline a blend of strategic positioning and operational challenges for the company. The company...

Baptista Research

Dominion Energy: How Will They Deal With The Market Volatility in Renewable Energy & Other Challenges? - Major Drivers

In the second quarter earnings for Dominion Energy, the company reported that its operating earnings stood at $0.65 per share, showing a notable...

Baptista Research

Dominion Energy: Initiation of Coverage - A Deep Dive Into Its Core Business Strategy? - Major Drivers

Dominion Energy delivered mixed results in the first quarter of 2024, showcasing both resilience and areas needing improvement as it strives to...

Baptista Research

Recessionary Signals as SPX Tests Resistance; Downgrading Energy to Underweight

Recessionary Signals as $SPX Tests Resistance; Downgrading Energy $XLE to Underweight; WTI Crude Oil Breakdown. Still expecting more downside. $XLB...

Vermilion Research

Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?

Upgrading Utilities $XLU to Overweight; Many Indexes Testing Resistance $SPX $DJI $IJH $IWM $XRT $EEM; Expecting SPX to Roll Over; $NVDA and $SMH...

Vermilion Research

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