Providence Capital Advisors LLC lifted its stake in Duke Energy Corp (NYSE:DUK) by 3.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,931 shares of the utilities provider’s stock after buying an additional 563 shares during the quarter. Providence Capital Advisors LLC’s holdings in Duke Energy were worth $1,494,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of DUK. Harvest Group Wealth Management LLC purchased a new stake in shares of Duke Energy during the first quarter worth about $26,000. Thor Advisors LLC purchased a new position in shares of Duke Energy in the first quarter valued at approximately $30,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Duke Energy in the second quarter worth approximately $34,000. Larson Financial Group LLC boosted its stake in shares of Duke Energy by 65.5% in the second quarter. Larson Financial Group LLC now owns 422 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 167 shares during the last quarter. Finally, Glassman Wealth Services increased its position in shares of Duke Energy by 35.2% during the first quarter. Glassman Wealth Services now owns 449 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 60.27% of the company’s stock.
Shares of DUK stock traded up $0.56 during trading hours on Wednesday, reaching $94.50. 153,499 shares of the stock were exchanged, compared to its average volume of 2,522,609. The business’s fifty day moving average is $90.22 and its two-hundred day moving average is $89.27. The firm has a market capitalization of $68.44 billion, a P/E ratio of 20.02, a P/E/G ratio of 3.85 and a beta of 0.09. Duke Energy Corp has a 12-month low of $78.00 and a 12-month high of $94.54. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.71 and a quick ratio of 0.47.
Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $0.98 by $0.14. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. As a group, equities research analysts predict that Duke Energy Corp will post 4.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $0.945 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.00%. This is an increase from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s dividend payout ratio is presently 80.08%.
In other news, SVP Dwight L. Jacobs sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.05, for a total transaction of $154,785.00. Following the completion of the sale, the senior vice president now owns 4,891 shares in the company, valued at approximately $445,325.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas F. Esamann sold 4,430 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $92.44, for a total transaction of $409,509.20. Following the completion of the transaction, the executive vice president now owns 64,722 shares of the company’s stock, valued at approximately $5,982,901.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,362 shares of company stock worth $2,401,576. Company insiders own 0.09% of the company’s stock.
DUK has been the subject of a number of research reports. ValuEngine lowered shares of Duke Energy from a “buy” rating to a “hold” rating in a report on Friday, June 28th. KeyCorp assumed coverage on shares of Duke Energy in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Credit Suisse Group boosted their price target on shares of Duke Energy from $95.00 to $98.00 and gave the stock a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. set a $90.00 price objective on shares of Duke Energy and gave the company a “hold” rating in a research note on Monday, May 20th. Finally, SunTrust Banks set a $96.00 target price on Duke Energy and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $92.44.
About Duke Energy
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
Further Reading: Why do companies engage in swaps?
Receive News & Ratings for Duke Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Energy and related companies with MarketBeat.com's FREE daily email newsletter.