Westpac Banking Corp grew its position in Duke Energy Corp (NYSE:DUK) by 5.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 131,055 shares of the utilities provider’s stock after purchasing an additional 7,238 shares during the period. Westpac Banking Corp’s holdings in Duke Energy were worth $11,564,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in DUK. Dimensional Fund Advisors LP increased its position in shares of Duke Energy by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,311,505 shares of the utilities provider’s stock worth $113,181,000 after purchasing an additional 52,498 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Duke Energy by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 8,951,045 shares of the utilities provider’s stock worth $771,079,000 after purchasing an additional 750,534 shares in the last quarter. USS Investment Management Ltd acquired a new position in shares of Duke Energy during the first quarter worth $37,519,000. First Manhattan Co. increased its position in shares of Duke Energy by 2.7% during the first quarter. First Manhattan Co. now owns 9,970 shares of the utilities provider’s stock worth $897,000 after purchasing an additional 264 shares in the last quarter. Finally, Whitehelm Capital Pty Ltd increased its position in shares of Duke Energy by 9.6% during the first quarter. Whitehelm Capital Pty Ltd now owns 82,986 shares of the utilities provider’s stock worth $7,469,000 after purchasing an additional 7,302 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.
DUK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $90.00 price target on Duke Energy and gave the stock a “hold” rating in a research report on Monday, May 20th. Barclays reduced their price target on Duke Energy from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. KeyCorp initiated coverage on Duke Energy in a research report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Bank of America downgraded Duke Energy from a “neutral” rating to an “underperform” rating in a research report on Monday, May 13th. Finally, Morgan Stanley reduced their price target on Duke Energy from $99.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $90.50.
Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.14. Duke Energy had a return on equity of 8.02% and a net margin of 13.23%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm earned $0.93 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Duke Energy Corp will post 4.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 4.19%. This is an increase from Duke Energy’s previous quarterly dividend of $0.93. The ex-dividend date is Thursday, August 15th. Duke Energy’s dividend payout ratio is presently 78.60%.
In related news, EVP Lloyd M. Yates sold 5,117 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $88.20, for a total value of $451,319.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dwight L. Jacobs sold 1,700 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $85.92, for a total value of $146,064.00. Following the completion of the transaction, the senior vice president now directly owns 6,091 shares in the company, valued at $523,338.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,598 shares of company stock worth $752,989. 0.09% of the stock is owned by insiders.
Duke Energy 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.
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