Mirae Asset Global Investments Co. Ltd. boosted its stake in Duke Energy Corp (NYSE:DUK) by 255.8% in the third quarter, Holdings Channel reports. The institutional investor owned 172,786 shares of the utilities provider’s stock after buying an additional 124,226 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Duke Energy were worth $13,825,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Duke Energy by 2.3% during the 3rd quarter. BlackRock Inc. now owns 47,043,416 shares of the utilities provider’s stock valued at $3,764,415,000 after purchasing an additional 1,065,607 shares during the last quarter. FMR LLC increased its position in shares of Duke Energy by 28.5% during the 2nd quarter. FMR LLC now owns 4,618,128 shares of the utilities provider’s stock valued at $365,201,000 after purchasing an additional 1,023,646 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Duke Energy by 12.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,465,312 shares of the utilities provider’s stock valued at $517,355,000 after purchasing an additional 706,008 shares during the last quarter. PointState Capital LP purchased a new stake in shares of Duke Energy during the 2nd quarter valued at $49,727,000. Finally, Millennium Management LLC increased its position in shares of Duke Energy by 23.2% during the 2nd quarter. Millennium Management LLC now owns 1,740,617 shares of the utilities provider’s stock valued at $137,648,000 after purchasing an additional 328,285 shares during the last quarter. 59.65% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on DUK shares. Wells Fargo & Co decreased their target price on Duke Energy from $89.00 to $88.00 and set a “market perform” rating for the company in a research report on Monday, November 5th. Morgan Stanley decreased their target price on Duke Energy from $91.00 to $85.00 and set a “hold” rating for the company in a research report on Friday, September 21st. Zacks Investment Research lowered Duke Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. ValuEngine raised Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Finally, Barclays raised their target price on Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $84.13.
Duke Energy (NYSE:DUK) last released its quarterly earnings results on Friday, November 2nd. The utilities provider reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.12. Duke Energy had a return on equity of 8.02% and a net margin of 11.98%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter last year, the firm posted $1.59 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Duke Energy Corp will post 4.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 16th will be issued a $0.9275 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $3.71 annualized dividend and a dividend yield of 4.19%. Duke Energy’s payout ratio is currently 81.18%.
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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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