Envestnet Portfolio Solutions Inc. Sells 20,046 Shares of Dominion Energy, Inc. (NYSE:D)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Dominion Energy, Inc. (NYSE:D) by 44.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,777 shares of the utilities provider’s stock after selling 20,046 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Dominion Energy were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Dominion Energy by 3.2% during the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock valued at $2,559,972,000 after purchasing an additional 1,365,555 shares during the last quarter. JPMorgan Chase & Co. increased its position in Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after buying an additional 1,222,688 shares in the last quarter. Geode Capital Management LLC raised its stake in Dominion Energy by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock valued at $1,032,941,000 after buying an additional 367,193 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Dominion Energy by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock worth $804,606,000 after acquiring an additional 1,068,996 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Dominion Energy by 4.8% during the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock valued at $496,358,000 after acquiring an additional 398,012 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Price Performance

Shares of NYSE D opened at $54.51 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The stock has a market capitalization of $46.44 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.22 and a beta of 0.58. The firm’s 50 day simple moving average is $55.19 and its 200-day simple moving average is $56.30. Dominion Energy, Inc. has a 12 month low of $46.56 and a 12 month high of $61.97.

Dominion Energy (NYSE:D) last posted its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. Analysts expect that Dominion Energy, Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were paid a $0.6675 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.90%. Dominion Energy’s dividend payout ratio is currently 98.89%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. UBS Group raised their target price on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Scotiabank boosted their price target on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.58.

Dominion Energy Company Profile

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.