Cortland Advisers LLC reduced its stake in shares of Duke Energy Corp (NYSE:DUK) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,228 shares of the utilities provider’s stock after selling 12,615 shares during the quarter. Duke Energy comprises about 0.7% of Cortland Advisers LLC’s portfolio, making the stock its 28th biggest position. Cortland Advisers LLC’s holdings in Duke Energy were worth $14,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DUK. Oregon Public Employees Retirement Fund lifted its holdings in Duke Energy by 1.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 76,521 shares of the utilities provider’s stock valued at $6,051,000 after buying an additional 962 shares during the period. Burney Co. lifted its holdings in Duke Energy by 14.5% in the second quarter. Burney Co. now owns 6,572 shares of the utilities provider’s stock valued at $520,000 after buying an additional 833 shares during the period. Gratus Capital LLC acquired a new position in Duke Energy in the second quarter valued at approximately $5,638,000. Captrust Financial Advisors lifted its holdings in Duke Energy by 3.7% in the second quarter. Captrust Financial Advisors now owns 74,372 shares of the utilities provider’s stock valued at $5,881,000 after buying an additional 2,631 shares during the period. Finally, Commonwealth Bank of Australia lifted its holdings in Duke Energy by 48.3% in the second quarter. Commonwealth Bank of Australia now owns 108,277 shares of the utilities provider’s stock valued at $8,555,000 after buying an additional 35,253 shares during the period. 59.06% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Melissa H. Anderson sold 500 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $81.76, for a total transaction of $40,880.00. Following the sale, the executive vice president now directly owns 15,096 shares in the company, valued at $1,234,248.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Dhiaa M. Jamil sold 4,279 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $81.54, for a total transaction of $348,909.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,779 shares of company stock worth $956,650. 0.08% of the stock is currently owned by company insiders.
DUK opened at $81.42 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $57.87 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 3.71 and a beta of 0.04. Duke Energy Corp has a twelve month low of $71.96 and a twelve month high of $91.80.
Duke Energy (NYSE:DUK) last posted its earnings results on Thursday, August 2nd. The utilities provider reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.08). Duke Energy had a return on equity of 7.92% and a net margin of 11.52%. The firm had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. research analysts predict that Duke Energy Corp will post 4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 17th will be issued a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.56%. This is a positive change from Duke Energy’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, August 16th. Duke Energy’s dividend payout ratio (DPR) is presently 81.18%.
Several brokerages recently weighed in on DUK. Zacks Investment Research upgraded shares of Duke Energy from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Wednesday, May 30th. Bank of America upgraded shares of Duke Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Wednesday, June 20th. Morgan Stanley increased their target price on shares of Duke Energy from $79.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Barclays assumed coverage on shares of Duke Energy in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $86.00 target price on the stock. Finally, ValuEngine upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $83.69.
Duke Energy 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.
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