Paradigm Asset Management Co. LLC Trims Stake in Duke Energy Corporation $DUK

Paradigm Asset Management Co. LLC cut its stake in Duke Energy Corporation (NYSE:DUK) by 80.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the utilities provider’s stock after selling 11,100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Duke Energy were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DUK. GQG Partners LLC boosted its position in shares of Duke Energy by 17,880.0% during the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock valued at $1,250,133,000 after purchasing an additional 10,192,503 shares in the last quarter. Nuveen LLC purchased a new position in Duke Energy during the first quarter valued at $702,351,000. Raymond James Financial Inc. boosted its holdings in shares of Duke Energy by 88.1% during the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock valued at $592,934,000 after buying an additional 2,276,948 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Duke Energy by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock worth $9,094,327,000 after buying an additional 1,676,061 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Duke Energy by 359.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider’s stock worth $138,145,000 after acquiring an additional 885,900 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on DUK shares. Royal Bank Of Canada raised shares of Duke Energy to a “hold” rating in a research note on Tuesday, October 28th. Jefferies Financial Group lifted their price objective on Duke Energy from $134.00 to $138.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Cowen initiated coverage on Duke Energy in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. BMO Capital Markets lifted their price target on Duke Energy from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company raised shares of Duke Energy to a “hold” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and an average price target of $138.00.

Duke Energy Trading Down 0.3%

Shares of DUK stock opened at $123.64 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $130.03. The stock has a market capitalization of $96.15 billion, a P/E ratio of 20.10, a P/E/G ratio of 3.05 and a beta of 0.45. The firm’s 50 day moving average is $123.97 and its 200 day moving average is $120.83.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 EPS. Research analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, November 14th. Duke Energy’s payout ratio is currently 69.27%.

Insider Activity

In other news, SVP Bonnie B. Titone sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the sale, the senior vice president owned 19,608 shares of the company’s stock, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total transaction of $832,542.00. Following the sale, the executive vice president owned 46,422 shares of the company’s stock, valued at $5,768,397.72. This trade represents a 12.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.14% of the stock is owned by corporate insiders.

Duke Energy Company 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.