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MarketScreener Homepage  >  Equities  >  Nyse  >  Dominion Energy, Inc.    D

DOMINION ENERGY, INC.

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Supreme Court Removes Hurdle for $8 Billion Atlantic Coast Pipeline

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06/15/2020 | 10:58am EDT

By Brent Kendall

WASHINGTON -- The Supreme Court removed a legal barrier to the construction of an $8 billion pipeline that would deliver natural gas from West Virginia, ruling the project could run under a major East Coast hiking trail.

The court, in a 7-2 opinion by Justice Clarence Thomas on Monday, overturned a lower-court ruling that found the U.S. Forest Service didn't have the authority to grant a special-use permit that allowed developers of the Atlantic Coast Pipeline to construct an underground segment beneath a section of the Appalachian National Scenic Trail in Virginia.

The Atlantic Coast Pipeline is a partnership in which Dominion Energy Inc. and Duke Energy Corp. are major investors. It would transport natural gas from West Virginia across 600 miles to sites in Virginia and North Carolina. The companies say the project is needed to help meet East Coast demand for cleaner-burning fuel. The pipeline was announced in 2014 but has faced delays, with the current price tag totaling about $8 billion.

Environmentalists argued the pipeline's path could harm ecologically important national forests, with threats of soil erosion and damage to wildlife habitat. They said the project would harm an especially picturesque section of the Appalachian Trail in Virginia located near Reed's Gap and the Wintergreen Resort. The trail runs more than 2,000 miles from Maine to Georgia.

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Write to Brent Kendall at brent.kendall@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
DOMINION ENERGY, INC. -0.05% 81.14 Delayed Quote.-2.03%
DUKE ENERGY CORPORATION -1.18% 92.78 Delayed Quote.1.72%
LBS (LBS) - CMG (ELECTRONIC)/C1 -3.35% 513.6 End-of-day quote.31.11%
LONDON BRENT OIL -1.65% 41.66 Delayed Quote.-35.76%
WTI -2.04% 39.715 Delayed Quote.-33.87%
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Financials (USD)
Sales 2020 15 907 M - -
Net income 2020 3 025 M - -
Net Debt 2020 39 024 M - -
P/E ratio 2020 22,3x
Yield 2020 4,25%
Capitalization 68 097 M 68 097 M -
EV / Sales 2020 6,73x
EV / Sales 2021 6,65x
Nbr of Employees 19 100
Free-Float 99,7%
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Technical analysis trends DOMINION ENERGY, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 82,60 $
Last Close Price 81,14 $
Spread / Highest target 10,9%
Spread / Average Target 1,80%
Spread / Lowest Target -16,2%
EPS Revisions
Managers
NameTitle
Robert M. Blue President & Chief Executive Officer
Thomas F. Farrell Executive Chairman
Diane Leopold Chief Operating Officer & Executive VP
James R. Chapman CFO, Treasurer & Senior Vice President
John W. Harris Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
DOMINION ENERGY, INC.-2.03%68 097
NEXTERA ENERGY25.15%148 398
ENEL S.P.A.7.03%91 060
IBERDROLA, S.A.16.61%77 637
DUKE ENERGY CORPORATION1.72%68 233
ORSTED A/S41.42%65 113