Envestnet Portfolio Solutions Inc. Sells 26,759 Shares of Duke Energy Corporation (NYSE:DUK)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Duke Energy Corporation (NYSE:DUK) by 13.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,858 shares of the utilities provider’s stock after selling 26,759 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Duke Energy were worth $20,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new stake in shares of Duke Energy during the 4th quarter valued at about $27,000. Parkworth Wealth Management Inc. bought a new position in Duke Energy in the fourth quarter worth approximately $28,000. Mattson Financial Services LLC bought a new position in Duke Energy in the 4th quarter worth $28,000. WealthTrak Capital Management LLC purchased a new position in Duke Energy during the fourth quarter valued at $30,000. Finally, Sierra Ocean LLC bought a new stake in Duke Energy during the fourth quarter valued at about $31,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Price Performance

NYSE:DUK opened at $114.50 on Thursday. The business’s 50-day moving average is $118.07 and its 200 day moving average is $114.90. Duke Energy Corporation has a 12 month low of $99.21 and a 12 month high of $125.27. The company has a market capitalization of $88.99 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.87 and a beta of 0.37. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.17. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.70 billion. During the same period in the prior year, the firm earned $1.44 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were given a $1.045 dividend. The ex-dividend date was Friday, May 16th. This represents a $4.18 annualized dividend and a yield of 3.65%. Duke Energy’s dividend payout ratio is currently 69.32%.

Analyst Ratings Changes

Several research analysts have recently commented on DUK shares. Morgan Stanley decreased their price objective on Duke Energy from $125.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of Duke Energy from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group upped their price target on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Raymond James Financial initiated coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a “market perform” rating on the stock. Finally, Barclays upped their target price on shares of Duke Energy from $111.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and an average price target of $125.75.

Duke Energy Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.