Dominion Energy Shares Down 10% After Pipeline Project Cancelled
July 06 2020 - 1:41PM
Dow Jones News
By Stephen Nakrosis
Shares of Dominion Energy Inc. are trading lower on the New York
Stock Exchange Monday, following news the company and Duke Energy
Corp. have decided to halt the proposed $8 billion Atlantic Coast
Pipeline project.
At 1:02 p.m. EDT, Dominion Energy shares had lost 10.15% to
trade at $74.29. Volume at the time topped 14.9 million shares,
above the 65-day average volume of some 3.7 million shares.
Duke Energy Corp. shares were also trading lower on the NYSE
Monday. At 1:05 p.m. EDT, the company's shares were down 2.9% at
$79.47.
The two companies said they made their decision based on
"ongoing delays and increasing cost uncertainty which threaten the
economic viability of the project."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 06, 2020 13:26 ET (17:26 GMT)
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