Woodmont Investment Counsel LLC Trims Position in Duke Energy Corp (DUK)

Woodmont Investment Counsel LLC lessened its holdings in shares of Duke Energy Corp (NYSE:DUK) by 2.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,864 shares of the utilities provider’s stock after selling 1,974 shares during the quarter. Duke Energy comprises approximately 1.5% of Woodmont Investment Counsel LLC’s portfolio, making the stock its 20th biggest holding. Woodmont Investment Counsel LLC’s holdings in Duke Energy were worth $5,510,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DUK. OppenheimerFunds Inc. boosted its position in Duke Energy by 130.8% during the third quarter. OppenheimerFunds Inc. now owns 3,432,454 shares of the utilities provider’s stock worth $274,665,000 after purchasing an additional 1,945,200 shares during the period. BlackRock Inc. boosted its position in shares of Duke Energy by 2.3% in the third quarter. BlackRock Inc. now owns 47,043,416 shares of the utilities provider’s stock valued at $3,764,415,000 after acquiring an additional 1,065,607 shares during the period. FMR LLC boosted its position in shares of Duke Energy by 28.5% in the second quarter. FMR LLC now owns 4,618,128 shares of the utilities provider’s stock valued at $365,201,000 after acquiring an additional 1,023,646 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Duke Energy by 12.3% in the third 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 acquiring an additional 706,008 shares during the period. Finally, PointState Capital LP bought a new position in shares of Duke Energy in the second quarter valued at approximately $49,727,000. Hedge funds and other institutional investors own 59.65% of the company’s stock.

A number of equities analysts have recently commented on the stock. ValuEngine upgraded shares of Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Barclays raised their target price on shares of Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Wells Fargo & Co lowered their target price on shares of Duke Energy from $89.00 to $88.00 and set a “market perform” rating on the stock in a research note on Monday, November 5th. Zacks Investment Research downgraded shares of Duke Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $86.00 target price on shares of Duke Energy in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Duke Energy has an average rating of “Hold” and a consensus price target of $84.13.

Shares of DUK stock traded up $0.55 during trading hours on Tuesday, hitting $90.17. 36,643 shares of the company’s stock were exchanged, compared to its average volume of 3,262,435. The company has a market capitalization of $63.14 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.72 and a beta of -0.04. Duke Energy Corp has a 12-month low of $71.96 and a 12-month high of $89.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.46 and a current ratio of 0.68.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Friday, November 2nd. The utilities provider reported $1.65 EPS for the quarter, topping the consensus estimate of $1.53 by $0.12. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.59 billion. Duke Energy had a net margin of 11.98% and a return on equity of 8.02%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. On average, research analysts predict that Duke Energy Corp will post 4.74 EPS for the current 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 paid a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 81.18%.

ILLEGAL ACTIVITY WARNING: This article was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.com-unik.info/2018/12/04/woodmont-investment-counsel-llc-trims-position-in-duke-energy-corp-duk.html.

Duke Energy Company 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.

Featured Article: What is the Rule of 72?

Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corp (NYSE:DUK).

Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit