State Street Corp Increases Stake in Duke Energy Corporation (NYSE:DUK)
State Street Corp increased its position in Duke Energy Corporation (NYSE:DUK) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,919,431 shares of the utilities provider’s stock after buying an additional 451,100 shares during the period. State Street Corp’s holdings in Duke Energy Corporation were worth $2,781,737,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. First Command Financial Services Inc. boosted its position in Duke Energy Corporation by 2.9% in the first quarter. First Command Financial Services Inc. now owns 3,491 shares of the utilities provider’s stock worth $286,000 after buying an additional 100 shares in the last quarter. Stokes & Hubbell Capital Management LLC bought a new position in Duke Energy Corporation during the first quarter worth approximately $208,000. Verus Financial Partners Inc. boosted its position in Duke Energy Corporation by 45.0% in the first quarter. Verus Financial Partners Inc. now owns 5,448 shares of the utilities provider’s stock worth $447,000 after buying an additional 1,690 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its position in Duke Energy Corporation by 4.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 6,239 shares of the utilities provider’s stock worth $512,000 after buying an additional 285 shares in the last quarter. Finally, TNB Financial bought a new position in Duke Energy Corporation during the first quarter worth approximately $10,613,000. 55.60% of the stock is owned by institutional investors and hedge funds.
Shares of Duke Energy Corporation (DUK) traded down 0.31% on Thursday, reaching $85.93. 382,441 shares of the company’s stock traded hands. The firm has a market cap of $60.15 billion, a P/E ratio of 25.45 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 of $84.80 and a 200 day moving average of $82.76.
Duke Energy Corporation (NYSE:DUK) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.01. The firm had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.76 billion. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 earnings per share. On average, equities research analysts expect that Duke Energy Corporation will post $4.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.89 per share. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Wednesday, August 16th. Duke Energy Corporation’s payout ratio is currently 101.48%.
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A number of equities analysts have commented on the stock. Deutsche Bank AG reissued a “hold” rating and issued a $84.00 price target (up previously from $83.00) on shares of Duke Energy Corporation in a research note on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $87.00 price objective (up previously from $85.00) on shares of Duke Energy Corporation in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) raised shares of Duke Energy Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $82.00 to $85.00 in a research note on Monday, June 26th. BidaskClub cut shares of Duke Energy Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Zacks Investment Research raised shares of Duke Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $82.58.
In other news, Director John H. Forsgren sold 2,190 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $82.86, for a total transaction of $181,463.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodore F. Craver, Jr. bought 3,500 shares of the stock in a transaction dated Monday, May 15th. The shares were bought at an average cost of $83.73 per share, with a total value of $293,055.00. Following the completion of the purchase, the director now directly owns 5,706 shares of the company’s stock, valued at approximately $477,763.38. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.
About Duke Energy Corporation
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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