SNS Financial Group LLC lowered its position in Duke Energy Corp (NYSE:DUK) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,897 shares of the utilities provider’s stock after selling 1,152 shares during the period. SNS Financial Group LLC’s holdings in Duke Energy were worth $2,638,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DUK. Redwood Investment Management LLC purchased a new stake in Duke Energy in the 1st quarter worth approximately $274,000. Prime Capital Investment Advisors LLC raised its stake in shares of Duke Energy by 3.9% during the 1st quarter. Prime Capital Investment Advisors LLC now owns 5,545 shares of the utilities provider’s stock worth $499,000 after buying an additional 209 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Duke Energy by 2.8% during the 2nd quarter. Carroll Financial Associates Inc. now owns 142,486 shares of the utilities provider’s stock worth $12,573,000 after buying an additional 3,927 shares during the period. CENTRAL TRUST Co raised its stake in shares of Duke Energy by 9.2% during the 2nd quarter. CENTRAL TRUST Co now owns 46,421 shares of the utilities provider’s stock worth $4,152,000 after buying an additional 3,915 shares during the period. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Duke Energy by 1.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 65,415 shares of the utilities provider’s stock worth $5,772,000 after buying an additional 1,085 shares during the period. Hedge funds and other institutional investors own 60.01% of the company’s stock.
Shares of DUK traded down $0.33 during midday trading on Wednesday, reaching $88.59. The company had a trading volume of 135,218 shares, compared to its average volume of 2,428,429. Duke Energy Corp has a 1-year low of $78.00 and a 1-year high of $91.67. The company has a market capitalization of $64.85 billion, a PE ratio of 18.79, a PEG ratio of 3.68 and a beta of 0.12. The business has a 50 day simple moving average of $88.48. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.49 and a current ratio of 0.75.
Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.14. Duke Energy had a return on equity of 7.70% and a net margin of 12.00%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the business posted $0.93 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Duke Energy Corp will post 4.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $0.945 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.78 dividend on an annualized basis and a yield of 4.27%. This is a positive change from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s dividend payout ratio (DPR) is currently 78.60%.
In other Duke Energy news, SVP Dwight L. Jacobs sold 1,700 shares of Duke Energy stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $85.92, for a total transaction of $146,064.00. Following the transaction, the senior vice president now owns 6,091 shares of the company’s stock, valued at $523,338.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director E Marie Mckee sold 1,781 shares of Duke Energy stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $87.37, for a total value of $155,605.97. Following the transaction, the director now directly owns 1 shares in the company, valued at approximately $87.37. The disclosure for this sale can be found here. Insiders have sold a total of 8,598 shares of company stock worth $752,989 in the last three months. Corporate insiders own 0.09% of the company’s stock.
DUK has been the subject of several research analyst reports. JPMorgan Chase & Co. set a $90.00 target price on Duke Energy and gave the stock a “hold” rating in a research note on Monday, May 20th. Barclays reduced their target price on Duke Energy from $96.00 to $94.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Zacks Investment Research downgraded Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 target price for the company. in a research note on Wednesday, June 26th. Bank of America downgraded Duke Energy from a “neutral” rating to an “underperform” rating in a research note on Monday, May 13th. Finally, KeyCorp initiated coverage on Duke Energy in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.50.
About Duke Energy
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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