Quantitative Systematic Strategies LLC Cuts Stake in Duke Energy Corp (DUK)

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Quantitative Systematic Strategies LLC lowered its position in shares of Duke Energy Corp (NYSE:DUK) by 48.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,113 shares of the utilities provider’s stock after selling 12,568 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Duke Energy were worth $1,037,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DUK. Atwood & Palmer Inc. boosted its position in Duke Energy by 434.9% during the first quarter. Atwood & Palmer Inc. now owns 1,348 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 1,096 shares in the last quarter. Landaas & Co. WI ADV bought a new stake in Duke Energy during the second quarter valued at about $110,000. Kaizen Advisory LLC boosted its position in Duke Energy by 125.8% during the second quarter. Kaizen Advisory LLC now owns 1,540 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 858 shares in the last quarter. Centersquare Investment Management LLC bought a new stake in Duke Energy during the first quarter valued at about $122,000. Finally, AdvisorNet Financial Inc boosted its position in Duke Energy by 137.3% during the second quarter. AdvisorNet Financial Inc now owns 1,732 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 1,002 shares in the last quarter. Hedge funds and other institutional investors own 58.20% of the company’s stock.

In other news, COO Dhiaa M. Jamil sold 4,279 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $81.54, for a total value of $348,909.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Dhiaa M. Jamil sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $80.98, for a total value of $566,860.00. Following the completion of the transaction, the chief operating officer now owns 4,279 shares of the company’s stock, valued at $346,513.42. The disclosure for this sale can be found here. In the last three months, insiders sold 11,779 shares of company stock valued at $956,650. Corporate insiders own 0.08% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and set a $86.00 price objective on shares of Duke Energy in a research report on Friday. Zacks Investment Research downgraded Duke Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Scotiabank assumed coverage on Duke Energy in a research report on Tuesday, July 24th. They set a “buy” rating and a $85.00 price objective on the stock. Howard Weil assumed coverage on Duke Energy in a research report on Tuesday, July 24th. They set a “sector outperform” rating and a $85.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised Duke Energy from an “underweight” rating to a “neutral” rating and set a $72.00 price objective on the stock in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $83.69.

Shares of NYSE DUK opened at $82.28 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.41. The stock has a market capitalization of $57.62 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.69 and a beta of 0.10. Duke Energy Corp has a fifty-two week low of $71.96 and a fifty-two week high of $91.80.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.08). The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.61 billion. Duke Energy had a return on equity of 7.92% and a net margin of 11.52%. Duke Energy’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. equities analysts anticipate that Duke Energy Corp will post 4.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 17th will be issued a $0.9275 dividend. This represents a $3.71 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $0.89. Duke Energy’s dividend payout ratio (DPR) is currently 77.90%.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

Further Reading: Leveraged Buyout (LBO) Explained

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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