Burney Co. increased its stake in shares of Duke Energy Corp (NYSE:DUK) by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,572 shares of the utilities provider’s stock after buying an additional 833 shares during the quarter. Burney Co.’s holdings in Duke Energy were worth $520,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in DUK. Wells Fargo & Company MN grew its holdings in Duke Energy by 3.2% during the first quarter. Wells Fargo & Company MN now owns 3,667,525 shares of the utilities provider’s stock worth $284,122,000 after buying an additional 114,386 shares in the last quarter. Mackay Shields LLC bought a new position in Duke Energy in the 1st quarter valued at $10,656,000. Commerce Bank grew its stake in Duke Energy by 0.8% in the 1st quarter. Commerce Bank now owns 258,676 shares of the utilities provider’s stock valued at $20,039,000 after purchasing an additional 2,038 shares during the period. Victory Capital Management Inc. grew its stake in Duke Energy by 68.1% in the 1st quarter. Victory Capital Management Inc. now owns 633,889 shares of the utilities provider’s stock valued at $49,108,000 after purchasing an additional 256,797 shares during the period. Finally, Mitchell Capital Management Co. grew its stake in Duke Energy by 61.6% in the 1st quarter. Mitchell Capital Management Co. now owns 4,769 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 1,817 shares during the period. Institutional investors and hedge funds own 59.06% of the company’s stock.
In other news, EVP Melissa H. Anderson sold 500 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $81.76, for a total transaction of $40,880.00. Following the transaction, the executive vice president now owns 15,096 shares of the company’s stock, valued at approximately $1,234,248.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Dhiaa M. Jamil sold 4,279 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $81.54, for a total value of $348,909.66. The disclosure for this sale can be found here. Insiders have sold a total of 11,779 shares of company stock worth $956,650 in the last ninety days. Insiders own 0.07% of the company’s stock.
Shares of NYSE DUK opened at $83.47 on Friday. Duke Energy Corp has a one year low of $71.96 and a one year high of $91.80. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 0.66. The firm has a market cap of $59.26 billion, a PE ratio of 17.55, a PEG ratio of 3.80 and a beta of 0.04.
Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.08). Duke Energy had a net margin of 11.52% and a return on equity of 7.92%. The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.61 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. research analysts expect that Duke Energy Corp will post 4.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 17th will be given a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Thursday, August 16th. This is a boost from Duke Energy’s previous quarterly dividend of $0.89. Duke Energy’s dividend payout ratio is currently 81.18%.
A number of brokerages have issued reports on DUK. Zacks Investment Research upgraded Duke Energy from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Wednesday, May 30th. Bank of America upgraded Duke Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Wednesday, June 20th. Morgan Stanley upped their price objective on Duke Energy from $79.00 to $86.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Barclays began coverage on Duke Energy in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $86.00 price objective for the company. Finally, ValuEngine upgraded Duke Energy from a “sell” rating to a “hold” rating in a research note 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 has a consensus rating of “Hold” and a consensus 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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