Envestnet Portfolio Solutions Inc. Sells 7,851 Shares of Dominion Energy, Inc. (NYSE:D)

Envestnet Portfolio Solutions Inc. lowered its stake in Dominion Energy, Inc. (NYSE:D) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,403 shares of the utilities provider’s stock after selling 7,851 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Dominion Energy were worth $4,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after buying an additional 12,178,713 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Dominion Energy by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after acquiring an additional 2,801,687 shares during the last quarter. Capital Research Global Investors lifted its position in Dominion Energy by 20.1% in the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock valued at $1,061,740,000 after acquiring an additional 3,613,614 shares in the last quarter. Wellington Management Group LLP boosted its stake in Dominion Energy by 13.2% during the 4th quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock valued at $869,184,000 after purchasing an additional 2,153,488 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Dominion Energy by 1.0% in the 4th quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock worth $357,769,000 after purchasing an additional 75,600 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on D. JPMorgan Chase & Co. raised their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday. Evercore ISI boosted their target price on shares of Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Mizuho increased their price target on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. StockNews.com raised Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and increased their target price for the company from $43.00 to $54.00 in a report on Friday, May 10th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.73.

Dominion Energy Price Performance

D traded down $0.49 during trading on Thursday, reaching $55.02. 1,250,329 shares of the company traded hands, compared to its average volume of 4,599,881. The company has a market cap of $46.16 billion, a P/E ratio of 28.61, a PEG ratio of 1.46 and a beta of 0.58. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. Dominion Energy, Inc. has a 12-month low of $39.18 and a 12-month high of $57.60. The firm has a fifty day simple moving average of $51.49 and a 200 day simple moving average of $49.90.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.85%. The ex-dividend date is Friday, August 30th. Dominion Energy’s payout ratio is 137.63%.

About Dominion Energy

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.