Logan Capital Management Inc. Holds Stake in Duke Energy Corporation (DUK)
Logan Capital Management Inc. continued to hold its position in Duke Energy Corporation (NYSE:DUK) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,150 shares of the utilities provider’s stock at the end of the first quarter. Logan Capital Management Inc.’s holdings in Duke Energy Corporation were worth $1,734,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pinnacle Bank bought a new position in Duke Energy Corporation during the first quarter worth about $104,000. North Star Investment Management Corp. raised its position in Duke Energy Corporation by 26.2% in the first quarter. North Star Investment Management Corp. now owns 1,552 shares of the utilities provider’s stock worth $127,000 after buying an additional 322 shares during the last quarter. Advantage Investment Management LLC raised its position in Duke Energy Corporation by 37.4% in the first quarter. Advantage Investment Management LLC now owns 1,697 shares of the utilities provider’s stock worth $139,000 after buying an additional 462 shares during the last quarter. Nicolet Bankshares Inc. raised its position in Duke Energy Corporation by 379.2% in the first quarter. Nicolet Bankshares Inc. now owns 1,730 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,369 shares during the last quarter. Finally, Baystate Wealth Management LLC bought a new position in Duke Energy Corporation during the first quarter worth about $142,000. 55.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of Duke Energy Corporation (DUK) traded down 0.4467% on Thursday, reaching $85.8149. The company had a trading volume of 283,350 shares. The company has a market capitalization of $60.07 billion, a price-to-earnings ratio of 25.4191 and a beta of 0.24. Duke Energy Corporation has a 12 month low of $72.34 and a 12 month high of $87.75. The stock has a 50 day moving average price of $84.80 and a 200-day moving average price of $82.76.
Duke Energy Corporation (NYSE:DUK) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. Analysts forecast that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, August 18th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 4.13%. Duke Energy Corporation’s dividend payout ratio (DPR) is 101.48%.
A number of research analysts have recently issued reports on DUK shares. Goldman Sachs Group, Inc. (The) raised Duke Energy Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $82.00 to $85.00 in a report on Monday, June 26th. Zacks Investment Research raised Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and issued a $87.00 target price (down previously from $91.00) on shares of Duke Energy Corporation in a report on Monday, July 10th. Barclays PLC reissued an “equal weight” rating and issued a $88.00 target price (up previously from $82.00) on shares of Duke Energy Corporation in a report on Sunday, April 23rd. Finally, BidaskClub raised Duke Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $82.58.
In other news, Director E Marie Mckee sold 1,937 shares of Duke Energy Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total transaction of $165,206.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John H. Forsgren sold 2,190 shares of Duke Energy Corporation stock in a transaction on Friday, May 12th. The shares were sold at an average price of $82.86, for a total value of $181,463.40. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.
Duke Energy Corporation Company Profile
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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