Envestnet Asset Management Inc. Sells 9,927 Shares of Dominion Energy Inc. $D

Envestnet Asset Management Inc. lowered its stake in Dominion Energy Inc. (NYSE:D) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 891,495 shares of the utilities provider’s stock after selling 9,927 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Dominion Energy were worth $54,533,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Dominion Energy by 16.2% in the second quarter. Vanguard Group Inc. now owns 105,795,310 shares of the utilities provider’s stock worth $5,979,551,000 after acquiring an additional 14,715,895 shares during the period. State Street Corp boosted its position in Dominion Energy by 2.9% in the second quarter. State Street Corp now owns 46,341,408 shares of the utilities provider’s stock worth $2,619,216,000 after purchasing an additional 1,313,621 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dominion Energy by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 19,725,397 shares of the utilities provider’s stock valued at $1,112,697,000 after purchasing an additional 575,350 shares during the period. Norges Bank bought a new position in shares of Dominion Energy in the 2nd quarter worth approximately $566,924,000. Finally, Legal & General Group Plc boosted its holdings in shares of Dominion Energy by 5.4% in the second quarter. Legal & General Group Plc now owns 7,669,476 shares of the utilities provider’s stock worth $433,479,000 after buying an additional 394,158 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Up 0.0%

Dominion Energy stock opened at $62.35 on Tuesday. The stock has a market cap of $53.25 billion, a P/E ratio of 21.21, a PEG ratio of 1.69 and a beta of 0.71. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.84 and a quick ratio of 0.65. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $63.43. The firm’s 50 day moving average price is $59.64 and its 200-day moving average price is $60.20.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, February 27th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, February 27th. Dominion Energy’s payout ratio is currently 90.82%.

Analyst Upgrades and Downgrades

D has been the topic of several recent research reports. Morgan Stanley increased their price target on shares of Dominion Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. BMO Capital Markets lowered their target price on Dominion Energy from $67.00 to $65.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Wells Fargo & Company reduced their price target on Dominion Energy from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. JPMorgan Chase & Co. lowered their price objective on Dominion Energy from $62.00 to $59.00 and set an “underweight” rating on the stock in a research report on Thursday, December 11th. Finally, TD Cowen started coverage on shares of Dominion Energy in a report on Friday, January 9th. They issued a “hold” rating and a $65.00 target price for the company. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.33.

Dominion Energy Profile

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.