By Stephen Nakrosis
Shares of Dominion Energy rose in after-hours trading on Friday after the company said it had entered into two separate term loan facilities of $600 million each.
The stock was up 2.4% to $53.50 per share at 5:56 p.m. ET on volume of more than 209,000 shares. The stock is down by more than 14% this year. The shares finished the day’s regular session with a 0.2% loss, closing at $52.24 per share.
The Richmond, Va.-based power and energy company said it borrowed an initial $750 million in aggregate on July 7 under the facilities, which mature on July 5, 2024.
At the end of June, the Dominion lowered its second-quarter operating earnings guidance range to 44 cents to 50 cents per share, from an earlier range of 58 cents to 68 cents per share. The new guidance reflects the impact of mild weather, unplanned outages and positive factors such as lower costs, the company said.
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