Envestnet Portfolio Solutions Inc. Lowers Stock Position in Dominion Energy, Inc. (NYSE:D)

Envestnet Portfolio Solutions Inc. reduced its position in Dominion Energy, Inc. (NYSE:D) by 7.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC acquired a new position in Dominion Energy during the fourth quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in shares of Dominion Energy during the 1st quarter valued at $30,000. LRI Investments LLC purchased a new stake in Dominion Energy during the 1st quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in Dominion Energy in the 2nd quarter valued at $35,000. Finally, Lynx Investment Advisory purchased a new position in Dominion Energy in the second quarter valued at about $37,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Down 0.9 %

Shares of D traded down $0.49 during midday trading on Thursday, hitting $55.02. The company had a trading volume of 1,250,329 shares, compared to its average volume of 4,599,881. The stock has a market cap of $46.16 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.46 and a beta of 0.58. The company’s 50 day moving average price is $51.49 and its 200 day moving average price is $49.90. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 52 week low of $39.18 and a 52 week high of $57.60.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.73 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on D. Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $43.00 to $54.00 in a research report on Friday, May 10th. Wells Fargo & Company increased their price objective on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday. BMO Capital Markets upped their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Finally, Evercore ISI lifted their price target on shares of Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.73.

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.