Wolff Wiese Magana LLC Increases Stock Position in Duke Energy Co. (NYSE:DUK)

Wolff Wiese Magana LLC raised its position in shares of Duke Energy Co. (NYSE:DUKGet Rating) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,592 shares of the utilities provider’s stock after buying an additional 110 shares during the period. Duke Energy comprises about 1.2% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 24th biggest holding. Wolff Wiese Magana LLC’s holdings in Duke Energy were worth $1,672,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Duke Energy by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 68,521,533 shares of the utilities provider’s stock valued at $7,651,115,000 after buying an additional 1,782,973 shares during the period. BlackRock Inc. lifted its position in shares of Duke Energy by 0.6% in the 4th quarter. BlackRock Inc. now owns 53,412,420 shares of the utilities provider’s stock worth $5,602,963,000 after purchasing an additional 299,355 shares during the period. State Street Corp lifted its position in shares of Duke Energy by 8.5% in the 1st quarter. State Street Corp now owns 42,715,057 shares of the utilities provider’s stock worth $4,769,563,000 after purchasing an additional 3,349,217 shares during the period. Wellington Management Group LLP lifted its position in shares of Duke Energy by 6.4% in the 1st quarter. Wellington Management Group LLP now owns 34,876,522 shares of the utilities provider’s stock worth $3,894,312,000 after purchasing an additional 2,112,764 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of Duke Energy by 4.3% in the 1st quarter. Royal Bank of Canada now owns 7,647,858 shares of the utilities provider’s stock worth $853,961,000 after purchasing an additional 318,102 shares during the period. Hedge funds and other institutional investors own 63.76% of the company’s stock.

Duke Energy Stock Down 1.7 %

NYSE:DUK traded down $1.74 on Friday, reaching $102.94. 84,334 shares of the stock traded hands, compared to its average volume of 2,190,135. The company has a market capitalization of $79.25 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 3.14 and a beta of 0.35. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 1.27. Duke Energy Co. has a 12 month low of $95.48 and a 12 month high of $116.33. The company’s fifty day simple moving average is $108.48 and its 200 day simple moving average is $108.91.

Duke Energy (NYSE:DUKGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $5.79 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that Duke Energy Co. will post 5.45 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 12th were paid a $1.005 dividend. The ex-dividend date was Thursday, August 11th. This is a positive change from Duke Energy’s previous quarterly dividend of $0.99. This represents a $4.02 dividend on an annualized basis and a dividend yield of 3.91%. Duke Energy’s payout ratio is currently 81.38%.

Insider Transactions at Duke Energy

In related news, COO Dhiaa M. Jamil sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $109.93, for a total value of $76,951.00. Following the transaction, the chief operating officer now owns 58,957 shares of the company’s stock, valued at $6,481,143.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Duke Energy news, COO Dhiaa M. Jamil sold 700 shares of Duke Energy stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $109.93, for a total transaction of $76,951.00. Following the transaction, the chief operating officer now owns 58,957 shares of the company’s stock, valued at $6,481,143.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Marie Mckee sold 1,589 shares of Duke Energy stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $109.39, for a total transaction of $173,820.71. Following the transaction, the director now directly owns 1 shares in the company, valued at approximately $109.39. The disclosure for this sale can be found here. Insiders sold 7,819 shares of company stock worth $856,533 over the last three months. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DUK shares. UBS Group cut shares of Duke Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $122.00 to $112.00 in a research report on Thursday, June 30th. Morgan Stanley dropped their target price on shares of Duke Energy from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Thursday. KeyCorp dropped their target price on shares of Duke Energy from $121.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Credit Suisse Group lowered shares of Duke Energy from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $112.00 to $114.00 in a research note on Friday, August 5th. Finally, Barclays decreased their price target on shares of Duke Energy from $119.00 to $110.00 in a research note on Monday, July 18th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Duke Energy has a consensus rating of “Hold” and a consensus target price of $112.90.

About Duke Energy

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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; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

Further Reading

Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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