IBM Retirement Fund reduced its stake in shares of Duke Energy Corp (NYSE:DUK) by 8.5% during the 4th quarter, HoldingsChannel reports. The firm owned 10,785 shares of the utilities provider’s stock after selling 1,002 shares during the period. IBM Retirement Fund’s holdings in Duke Energy were worth $931,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. HC Financial Advisors Inc. raised its holdings in 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. Acadian Asset Management LLC raised its holdings in Duke Energy by 362.9% during the 3rd quarter. Acadian Asset Management LLC now owns 4,046 shares of the utilities provider’s stock valued at $324,000 after acquiring an additional 3,172 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Duke Energy by 3.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 50,851 shares of the utilities provider’s stock valued at $4,069,000 after acquiring an additional 1,847 shares during the period. MML Investors Services LLC raised its holdings in Duke Energy by 53.4% during the 3rd quarter. MML Investors Services LLC now owns 81,424 shares of the utilities provider’s stock valued at $6,516,000 after acquiring an additional 28,358 shares during the period. Finally, Zeke Capital Advisors LLC raised its holdings in Duke Energy by 46.3% during the 3rd quarter. Zeke Capital Advisors LLC now owns 7,618 shares of the utilities provider’s stock valued at $610,000 after acquiring an additional 2,412 shares during the period. Institutional investors own 61.97% of the company’s stock.
A number of brokerages have issued reports on DUK. Zacks Investment Research raised shares of Duke Energy from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Wednesday, December 12th. Bank of America upped their price target on shares of Duke Energy from $89.00 to $91.00 and gave the stock a “neutral” rating in a report on Monday, March 11th. ValuEngine raised shares of Duke Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Morgan Stanley upped their price target on shares of Duke Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 12th. Finally, Credit Suisse Group cut shares of Duke Energy from an “outperform” rating to a “neutral” rating in a report on Friday, February 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $85.08.
Duke Energy stock opened at $90.65 on Friday. The firm has a market capitalization of $65.90 billion, a PE ratio of 19.21, a PEG ratio of 3.64 and a beta of 0.06. Duke Energy Corp has a fifty-two week low of $71.96 and a fifty-two week high of $91.35. The company has a current ratio of 0.65, a quick ratio of 0.44 and a debt-to-equity ratio of 1.17.
Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, February 14th. The utilities provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.05). The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.84 billion. Duke Energy had a return on equity of 7.80% and a net margin of 10.87%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. As a group, sell-side analysts anticipate that Duke Energy Corp will post 4.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Friday, February 15th will be issued a $0.9275 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $3.71 annualized dividend and a dividend yield of 4.09%. Duke Energy’s payout ratio is currently 78.60%.
In related 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 value of $1,348,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Dhiaa M. Jamil sold 750 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $89.75, for a total value of $67,312.50. The disclosure for this sale can be found here. In the last three months, insiders sold 21,250 shares of company stock worth $1,900,878. 0.08% of the stock is owned by insiders.
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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.
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