Dominion Energy Launches Business Review to Boost Stock
November 04 2022 - 8:23AM
Dow Jones News
By Will Feuer
Dominion Energy Inc. is initiating a review of its business,
Chief Executive Bob Blue said, citing disappointing performance of
the company's stock.
The Richmond, Va.-based energy company plans to review
alternatives to its current mix of business and capital allocation,
Mr. Blue said, and assess regulatory options to assist its
customers with managing costs.
"We plan to review value-maximizing strategic business actions,"
Mr. Blue said. The company hopes to also "provide greater
predictability to our long-term, state-regulated utility value
proposition," Mr. Blue said.
Shares of Dominion are down about 12% so far this year,
outperforming the S&P 500, which has fallen some 22% in
2022.
Dominion stock, which closed Thursday at $69.23 a share, is
roughly at the same price as it was in 2014.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
November 04, 2022 08:08 ET (12:08 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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