Magellan Asset Management Ltd Lowers Stake in Duke Energy Corporation (NYSE:DUK)
Magellan Asset Management Ltd lowered its stake in Duke Energy Corporation (NYSE:DUK) by 14.5% during the first quarter, Holdings Channel reports. The fund owned 195,791 shares of the utilities provider’s stock after selling 33,136 shares during the period. Magellan Asset Management Ltd’s holdings in Duke Energy Corporation were worth $16,000,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Duke Energy Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 48,471,025 shares of the utilities provider’s stock valued at $3,975,109,000 after buying an additional 1,918,598 shares during the last quarter. BlackRock Inc. raised its position in Duke Energy Corporation by 2,866.0% in the first quarter. BlackRock Inc. now owns 42,708,918 shares of the utilities provider’s stock valued at $3,502,557,000 after buying an additional 41,268,968 shares during the last quarter. State Street Corp raised its position in Duke Energy Corporation by 1.3% in the first quarter. State Street Corp now owns 33,919,431 shares of the utilities provider’s stock valued at $2,781,737,000 after buying an additional 451,100 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Duke Energy Corporation by 33.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,422,063 shares of the utilities provider’s stock valued at $772,704,000 after buying an additional 2,345,114 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Duke Energy Corporation by 8.6% in the first quarter. Geode Capital Management LLC now owns 7,138,784 shares of the utilities provider’s stock valued at $584,660,000 after buying an additional 567,019 shares during the last quarter. 55.60% of the stock is currently owned by hedge funds and other institutional investors.
Duke Energy Corporation (NYSE DUK) traded down 0.80% on Friday, hitting $85.70. The stock had a trading volume of 2,516,839 shares. Duke Energy Corporation has a 12-month low of $72.34 and a 12-month high of $87.75. The firm has a market cap of $59.99 billion, a PE ratio of 25.39 and a beta of 0.24. The company’s 50 day moving average is $84.78 and its 200 day moving average is $82.84.
Duke Energy Corporation (NYSE:DUK) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts expect that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 18th will be paid a $0.89 dividend. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $3.56 annualized dividend and a dividend yield of 4.15%. Duke Energy Corporation’s payout ratio is 101.48%.
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Several equities analysts recently issued reports on DUK shares. BMO Capital Markets reissued a “hold” rating and set a $85.00 target price on shares of Duke Energy Corporation in a research note on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) raised Duke Energy Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $85.00 in a research report on Monday, June 26th. BidaskClub lowered Duke Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $87.00 price target (down previously from $91.00) on shares of Duke Energy Corporation in a research report on Monday, July 10th. Finally, Zacks Investment Research lowered Duke Energy Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $82.71.
In other Duke Energy Corporation news, Director Theodore F. Craver, Jr. purchased 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $83.73 per share, for a total transaction of $293,055.00. Following the completion of the purchase, the director now owns 5,706 shares in the company, valued at approximately $477,763.38. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director E Marie Mckee sold 1,937 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was 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.
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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