Envestnet Asset Management Inc. Has $54.53 Million Stock Position in Dominion Energy Inc. $D

Envestnet Asset Management Inc. reduced its stake in shares of Dominion Energy Inc. (NYSE:D) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 891,495 shares of the utilities provider’s stock after selling 9,927 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Dominion Energy worth $54,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Dominion Energy by 16.2% during the 2nd 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 lifted its position in shares of Dominion Energy by 2.9% during the 2nd quarter. State Street Corp now owns 46,341,408 shares of the utilities provider’s stock valued at $2,619,216,000 after acquiring an additional 1,313,621 shares during the period. Geode Capital Management LLC lifted its position 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 acquiring an additional 575,350 shares during the period. Norges Bank bought a new position in Dominion Energy during the second quarter worth $566,924,000. Finally, Legal & General Group Plc boosted its stake in Dominion Energy by 5.4% during the second quarter. Legal & General Group Plc now owns 7,669,476 shares of the utilities provider’s stock worth $433,479,000 after acquiring an additional 394,158 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Trading Up 0.0%

Shares of D stock opened at $62.35 on Tuesday. The business has a 50-day moving average price of $59.64 and a two-hundred day moving average price of $60.20. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $63.43. The company has a quick ratio of 0.65, a current ratio of 0.84 and a debt-to-equity ratio of 1.41. The firm has a market cap of $53.25 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 1.69 and a beta of 0.71.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.67 annualized dividend and a dividend yield of 4.3%. Dominion Energy’s payout ratio is 90.82%.

Analyst Ratings Changes

Several analysts have recently commented on D shares. BMO Capital Markets reduced their target price on Dominion Energy from $67.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Barclays cut their target price on Dominion Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Morgan Stanley raised their price target on shares of Dominion Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. TD Cowen initiated coverage on Dominion Energy in a research note on Friday, January 9th. They issued a “hold” rating and a $65.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Dominion Energy from $62.00 to $59.00 and set an “underweight” rating on the stock in a research report on Thursday, December 11th. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.33.

Dominion Energy Company 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.