ARP Americas LP lessened its holdings in shares of Duke Energy Corp (NYSE:DUK) by 39.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,190 shares of the utilities provider’s stock after selling 6,768 shares during the quarter. ARP Americas LP’s holdings in Duke Energy were worth $814,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of DUK. Marshall Wace LLP bought a new position in Duke Energy during the 1st quarter worth approximately $79,000. Cubist Systematic Strategies LLC lifted its holdings in Duke Energy by 521.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 12,495 shares of the utilities provider’s stock worth $1,140,000 after buying an additional 10,485 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Duke Energy by 5.1% during the 4th quarter. Sunbelt Securities Inc. now owns 43,077 shares of the utilities provider’s stock worth $3,929,000 after buying an additional 2,107 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Duke Energy by 4.4% during the 4th quarter. Macquarie Group Ltd. now owns 334,655 shares of the utilities provider’s stock worth $30,524,000 after buying an additional 14,141 shares during the last quarter. Finally, Global Trust Asset Management LLC lifted its holdings in Duke Energy by 53.4% during the 1st quarter. Global Trust Asset Management LLC now owns 1,221 shares of the utilities provider’s stock worth $102,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 64.03% of the company’s stock.
Several analysts recently issued reports on DUK shares. UBS Group cut their price target on Duke Energy from $113.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Morgan Stanley raised their price target on Duke Energy from $89.00 to $96.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Seaport Global Securities started coverage on Duke Energy in a report on Tuesday, June 9th. They issued a “neutral” rating on the stock. Bank of America reissued a “neutral” rating and issued a $83.00 price target (down previously from $93.00) on shares of Duke Energy in a report on Wednesday, May 13th. Finally, Wells Fargo & Co cut their price target on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $93.93.
Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, May 12th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.05). Duke Energy had a net margin of 15.17% and a return on equity of 8.13%. The firm had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts forecast that Duke Energy Corp will post 5.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be issued a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from Duke Energy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, August 13th. Duke Energy’s payout ratio is presently 74.70%.
In related news, SVP Dwight L. Jacobs sold 1,500 shares of Duke Energy stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $84.11, for a total value of $126,165.00. Following the transaction, the senior vice president now directly owns 5,191 shares in the company, valued at approximately $436,615.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Harry K. Sideris sold 1,285 shares of Duke Energy stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $80.42, for a total value of $103,339.70. Following the completion of the transaction, the senior vice president now owns 5,396 shares in the company, valued at $433,946.32. The disclosure for this sale can be found here. Insiders sold a total of 3,557 shares of company stock worth $292,856 over the last 90 days. Insiders own 0.11% of the company’s stock.
Duke Energy 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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