Envestnet Portfolio Solutions Inc. Has $610,000 Stock Holdings in Dominion Energy Inc. (NYSE:D)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Dominion Energy Inc. (NYSE:D) by 56.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,887 shares of the utilities provider’s stock after selling 13,890 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Dominion Energy were worth $610,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in D. Norges Bank bought a new position in Dominion Energy during the 4th quarter worth approximately $473,354,000. American Century Companies Inc. raised its holdings in Dominion Energy by 207.7% during the 4th quarter. American Century Companies Inc. now owns 3,763,898 shares of the utilities provider’s stock worth $202,724,000 after purchasing an additional 2,540,713 shares during the last quarter. Marshall Wace LLP raised its holdings in Dominion Energy by 8,585.3% during the 4th quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider’s stock worth $119,048,000 after purchasing an additional 2,184,873 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Dominion Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock worth $1,667,540,000 after purchasing an additional 1,459,926 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in Dominion Energy during the 4th quarter worth approximately $72,269,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on D shares. Morgan Stanley lowered their price target on shares of Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, June 18th. UBS Group lifted their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Argus upgraded shares of Dominion Energy to a “hold” rating in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $52.00 target price (down previously from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.38.

Dominion Energy Stock Performance

Shares of D stock opened at $55.24 on Friday. The firm has a market capitalization of $47.11 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.20 and a beta of 0.56. The firm has a fifty day simple moving average of $55.11 and a two-hundred day simple moving average of $54.69. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Dominion Energy Inc. has a 12 month low of $47.99 and a 12 month high of $61.97.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $3.95 billion. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. Dominion Energy’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. Analysts forecast that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.6675 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.83%. Dominion Energy’s dividend payout ratio (DPR) is presently 100.00%.

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.