FDO Partners LLC cut its stake in Duke Energy Corporation (NYSE:DUK) by 76.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,642 shares of the utilities provider’s stock after selling 18,055 shares during the period. FDO Partners LLC’s holdings in Duke Energy Corporation were worth $463,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Bank purchased a new position in shares of Duke Energy Corporation during the first quarter valued at about $104,000. North Star Investment Management Corp. boosted its position in shares of Duke Energy Corporation by 26.2% in the first quarter. North Star Investment Management Corp. now owns 1,552 shares of the utilities provider’s stock valued at $127,000 after buying an additional 322 shares during the period. Advantage Investment Management LLC boosted its position in shares of Duke Energy Corporation by 37.4% in the first quarter. Advantage Investment Management LLC now owns 1,697 shares of the utilities provider’s stock valued at $139,000 after buying an additional 462 shares during the period. Baystate Wealth Management LLC purchased a new position in shares of Duke Energy Corporation during the first quarter valued at about $142,000. Finally, Nicolet Bankshares Inc. boosted its position in shares of Duke Energy Corporation by 379.2% in the first quarter. Nicolet Bankshares Inc. now owns 1,730 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,369 shares during the period. 55.41% of the stock is owned by institutional investors and hedge funds.
Duke Energy Corporation (NYSE:DUK) opened at 86.38 on Friday. The company has a market capitalization of $60.46 billion, a price-to-earnings ratio of 25.59 and a beta of 0.24. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $87.75. The firm has a 50 day moving average of $84.90 and a 200-day moving average of $83.17.
Duke Energy Corporation (NYSE:DUK) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. Equities analysts expect that Duke Energy Corporation will post $4.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be issued a $0.89 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $3.56 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. Duke Energy Corporation’s dividend payout ratio (DPR) is presently 105.64%.
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A number of analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Duke Energy Corporation from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. BMO Capital Markets reiterated a “hold” rating and issued a $87.00 price target (up from $85.00) on shares of Duke Energy Corporation in a research note on Friday, August 4th. Deutsche Bank AG reiterated a “hold” rating and issued a $84.00 price target (up from $83.00) on shares of Duke Energy Corporation in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Tuesday, July 11th. Finally, BidaskClub lowered shares of Duke Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $82.71.
In other Duke Energy Corporation news, Director E Marie Mckee sold 1,937 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total value of $165,206.73. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Douglas F. Esamann sold 5,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $86.22, for a total value of $431,100.00. Following the completion of the transaction, the executive vice president now owns 50,316 shares in the company, valued at approximately $4,338,245.52. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.
About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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