Strategic Advisors LLC cut its stake in shares of Duke Energy Corp (NYSE:DUK) by 53.7% in the first quarter, HoldingsChannel.com reports. The fund owned 21,548 shares of the utilities provider’s stock after selling 24,976 shares during the period. Strategic Advisors LLC’s holdings in Duke Energy were worth $1,939,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in DUK. HC Financial Advisors Inc. grew its stake in shares of Duke Energy by 445.9% during the 3rd quarter. HC Financial Advisors Inc. now owns 20,099 shares of the utilities provider’s stock valued at $1,608,000 after acquiring an additional 16,417 shares during the period. Bank of New York Mellon Corp raised its holdings 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 worth $517,355,000 after acquiring an additional 706,008 shares in the last quarter. Standard Life Aberdeen plc raised its holdings in shares of Duke Energy by 5.1% during the 3rd quarter. Standard Life Aberdeen plc now owns 407,028 shares of the utilities provider’s stock worth $32,573,000 after acquiring an additional 19,927 shares in the last quarter. Man Group plc raised its holdings in shares of Duke Energy by 53.7% during the 3rd quarter. Man Group plc now owns 152,377 shares of the utilities provider’s stock worth $12,193,000 after acquiring an additional 53,210 shares in the last quarter. Finally, Putnam Investments LLC raised its holdings in shares of Duke Energy by 0.9% during the 3rd quarter. Putnam Investments LLC now owns 259,153 shares of the utilities provider’s stock worth $20,737,000 after acquiring an additional 2,344 shares in the last quarter. Institutional investors own 60.74% of the company’s stock.
In other news, Chairman Lynn J. Good sold 15,000 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $89.92, for a total transaction of $1,348,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Melissa H. Anderson sold 2,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $87.49, for a total value of $174,980.00. Following the transaction, the executive vice president now directly owns 18,198 shares in the company, valued at approximately $1,592,143.02. The disclosure for this sale can be found here. Insiders have sold a total of 21,250 shares of company stock worth $1,900,878 in the last three months. Corporate insiders own 0.09% of the company’s stock.
Duke Energy (NYSE:DUK) last released its earnings results on Thursday, February 14th. The utilities provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.05). The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.84 billion. Duke Energy had a net margin of 10.87% and a return on equity of 7.80%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. On average, equities analysts expect that Duke Energy Corp will post 4.97 earnings per share for the current year.
Several analysts have recently issued reports on the company. ValuEngine cut Duke Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Bank of America upped their price objective on Duke Energy from $89.00 to $91.00 and gave the stock a “neutral” rating in a report on Monday, March 11th. Morgan Stanley upped their price objective on Duke Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 12th. Credit Suisse Group cut Duke Energy from an “outperform” rating to a “neutral” rating in a report on Friday, February 15th. Finally, Zacks Investment Research cut Duke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $85.73.
Duke Energy Company Profile
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: SEC Filing
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