Investors Buy Duke Energy Corp. (DUK) on Weakness
Investors bought shares of Duke Energy Corp. (NYSE:DUK) on weakness during trading on Wednesday. $41.91 million flowed into the stock on the tick-up and $29.81 million flowed out of the stock on the tick-down, for a money net flow of $12.10 million into the stock. Of all stocks tracked, Duke Energy Corp. had the 20th highest net in-flow for the day. Duke Energy Corp. traded down ($0.46) for the day and closed at $84.92
Several research firms have recently commented on DUK. Zacks Investment Research upgraded shares of Duke Energy Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Citigroup Inc. increased their price target on shares of Duke Energy Corp. from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday. Argus lowered shares of Duke Energy Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating on shares of Duke Energy Corp. in a research report on Monday, April 18th. Finally, Mizuho reissued a “neutral” rating and set a $75.00 price objective (down previously from $80.00) on shares of Duke Energy Corp. in a research note on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. Duke Energy Corp. has an average rating of “Hold” and a consensus price target of $78.97.
The firm has a market capitalization of $58.50 billion and a P/E ratio of 22.18. The stock has a 50 day moving average of $83.20 and a 200-day moving average of $78.57.
Duke Energy Corp. (NYSE:DUK) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by $0.01. During the same quarter in the prior year, the company earned $1.24 earnings per share. The firm had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $6.03 billion. Duke Energy Corp.’s revenue was down 7.3% on a year-over-year basis. On average, equities research analysts forecast that Duke Energy Corp. will post $4.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 12th will be paid a $0.855 dividend. The ex-dividend date is Wednesday, August 10th. This is an increase from Duke Energy Corp.’s previous quarterly dividend of $0.83. This represents a $3.42 annualized dividend and a dividend yield of 4.03%.
In other news, Director E Marie Mckee sold 1,558 shares of Duke Energy Corp. stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $76.66, for a total value of $119,436.28. Following the transaction, the director now owns 1 shares of the company’s stock, valued at approximately $76.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have made changes to their positions in DUK. United Asset Strategies Inc. boosted its position in shares of Duke Energy Corp. by 2.9% in the fourth quarter. United Asset Strategies Inc. now owns 14,328 shares of the company’s stock valued at $1,023,000 after buying an additional 407 shares in the last quarter. Pettyjohn Wood & White Inc. increased its position in Duke Energy Corp. by 16.3% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 14,865 shares of the company’s stock valued at $1,061,000 after buying an additional 2,079 shares during the period. Alerus Investment Advisors Corp increased its position in Duke Energy Corp. by 17.8% in the fourth quarter. Alerus Investment Advisors Corp now owns 15,734 shares of the company’s stock valued at $1,123,000 after buying an additional 2,382 shares during the period. ICON Advisers increased its position in Duke Energy Corp. by 74.4% in the third quarter. ICON Advisers now owns 15,700 shares of the company’s stock valued at $1,129,000 after buying an additional 6,700 shares during the period. Finally, Brown Advisory Securities LLC increased its position in Duke Energy Corp. by 5.8% in the fourth quarter. Brown Advisory Securities LLC now owns 18,068 shares of the company’s stock valued at $1,289,000 after buying an additional 995 shares during the period.
Duke Energy Corporation (Duke Energy) is an energy company. The Company’s segments include Regulated Utilities, International Energy and Commercial Portfolio. Duke Energy’s subsidiaries include its subsidiary registrants: Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc (Progress Energy); Duke Energy Progress, LLC (Duke Energy Progress); Duke Energy Florida, LLC (Duke Energy Florida); Duke Energy Ohio, Inc (Duke Energy Ohio), and Duke Energy Indiana, Inc (Duke Energy Indiana).
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