Duke Energy Corp (DUK) Stake Lowered by Earnest Partners LLC
Earnest Partners LLC cut its stake in Duke Energy Corp (NYSE:DUK) by 31.3% during the first quarter, Holdings Channel reports. The fund owned 44,469 shares of the utilities provider’s stock after selling 20,215 shares during the period. Earnest Partners LLC’s holdings in Duke Energy Corp were worth $3,647,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Pinnacle Bank bought a new position in shares of Duke Energy Corp during the first quarter worth $104,000. North Star Investment Management Corp. increased its position in shares of Duke Energy Corp 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 period. Advantage Investment Management LLC increased its position in shares of Duke Energy Corp 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 period. Nicolet Bankshares Inc. increased its position in shares of Duke Energy Corp 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 period. Finally, Baystate Wealth Management LLC bought a new position in shares of Duke Energy Corp during the first quarter worth $142,000. Hedge funds and other institutional investors own 55.60% of the company’s stock.
Duke Energy Corp (NYSE:DUK) traded down 0.804% during midday trading on Friday, reaching $85.695. 895,220 shares of the company’s stock traded hands. Duke Energy Corp has a one year low of $72.34 and a one year high of $87.75. The stock’s 50 day moving average price is $84.80 and its 200-day moving average price is $82.78. The stock has a market cap of $59.98 billion, a PE ratio of 25.384 and a beta of 0.24.
Duke Energy Corp (NYSE:DUK) last released its quarterly 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 business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy Corp had a return on equity of 6.69% and a net margin of 12.44%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. Equities analysts predict that Duke Energy Corp will post $4.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.89 per share. This is an increase from Duke Energy Corp’s previous quarterly dividend of $0.86. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Wednesday, August 16th. Duke Energy Corp’s payout ratio is currently 101.48%.
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A number of equities analysts recently weighed in on DUK shares. BMO Capital Markets reissued a “hold” rating and issued a $85.00 price target on shares of Duke Energy Corp in a report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) raised shares of Duke Energy Corp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $82.00 to $85.00 in a report on Monday, June 26th. BidaskClub downgraded shares of Duke Energy Corp from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Morgan Stanley reissued an “equal weight” rating and issued a $87.00 price target (down from $91.00) on shares of Duke Energy Corp in a report on Monday, July 10th. Finally, Zacks Investment Research downgraded shares of Duke Energy Corp from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, ten have issued 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 a consensus price target of $82.71.
In other news, Director Theodore F. Craver, Jr. purchased 3,500 shares of the business’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $83.73 per share, for a total transaction of $293,055.00. Following the purchase, the director now directly owns 5,706 shares in the company, valued at approximately $477,763.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director E Marie Mckee sold 1,937 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $85.29, for a total value of $165,206.73. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.
About Duke Energy Corp
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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