State Treasurer State of Michigan lowered its position in shares of Duke Energy Corp (NYSE:DUK) by 14.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 203,584 shares of the utilities provider’s stock after selling 35,300 shares during the quarter. State Treasurer State of Michigan’s holdings in Duke Energy were worth $17,964,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in Duke Energy in the first quarter valued at approximately $25,000. Harvest Group Wealth Management LLC bought a new position in Duke Energy in the first quarter valued at approximately $26,000. Thor Advisors LLC bought a new position in Duke Energy in the first quarter valued at approximately $30,000. Larson Financial Group LLC lifted its stake in Duke Energy by 65.5% in the second quarter. Larson Financial Group LLC now owns 422 shares of the utilities provider’s stock valued at $37,000 after buying an additional 167 shares in the last quarter. Finally, Riverview Trust Co bought a new position in Duke Energy in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 60.01% of the company’s stock.
Shares of DUK stock traded down $0.56 during trading on Wednesday, reaching $88.36. The company’s stock had a trading volume of 128,125 shares, compared to its average volume of 2,428,429. The firm’s fifty day moving average is $88.48. The company has a current ratio of 0.75, a quick ratio of 0.49 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $64.85 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 3.68 and a beta of 0.12. Duke Energy Corp has a one year low of $78.00 and a one year high of $91.67.
Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.14. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.76 billion. Duke Energy had a net margin of 12.00% and a return on equity of 7.70%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share. On average, equities analysts forecast that Duke Energy Corp will post 4.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s payout ratio is currently 78.60%.
In other Duke Energy news, EVP Lloyd M. Yates sold 5,117 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total transaction of $451,319.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Dwight L. Jacobs sold 1,700 shares of the company’s stock in a transaction 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 sale, 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. In the last three months, insiders sold 8,598 shares of company stock worth $752,989. 0.09% of the stock is currently owned by insiders.
A number of research analysts have weighed in on DUK shares. Bank of America lowered shares of Duke Energy from a “neutral” rating to an “underperform” rating in a research note on Monday, May 13th. Barclays cut their price target on shares of Duke Energy from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Morgan Stanley lifted their price target on shares of Duke Energy from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. KeyCorp assumed coverage on shares of Duke Energy in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Finally, ValuEngine lowered shares of Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.50.
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.
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