The P/E ratio is a significant indicator of a stock's valuation. Dominion Energy's lower P/E ratio compared to its industry peers could attract investors looking for undervalued stocks, potentially providing a positive impact on the stock price. However, the P/E ratio alone is not a definitive measure of future performance, and the recent decline in stock price suggests a cautious market sentiment. Therefore, the short-term impact is likely to be neutral until further financial metrics or market trends provide additional clarity.