Cincinnati Financial Corp Maintains Holdings in Duke Energy Corporation (DUK)
Cincinnati Financial Corp continued to hold its position in shares of Duke Energy Corporation (NYSE:DUK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,000 shares of the utilities provider’s stock at the close of the 2nd quarter. Cincinnati Financial Corp’s holdings in Duke Energy Corporation were worth $4,347,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Winfield Associates Inc. increased its stake in Duke Energy Corporation by 14.3% during the 2nd quarter. Winfield Associates Inc. now owns 1,322 shares of the utilities provider’s stock worth $111,000 after buying an additional 165 shares in the last quarter. Jolley Asset Management LLC increased its stake in Duke Energy Corporation by 26.4% during the 2nd quarter. Jolley Asset Management LLC now owns 1,499 shares of the utilities provider’s stock worth $125,000 after buying an additional 313 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new stake in Duke Energy Corporation during the 2nd quarter worth approximately $130,000. Advantage Investment Management LLC increased its stake in Duke Energy Corporation by 37.4% during the 1st 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 in the last quarter. Finally, Jacobi Capital Management LLC increased its stake in Duke Energy Corporation by 104.1% during the 1st quarter. Jacobi Capital Management LLC now owns 1,980 shares of the utilities provider’s stock worth $164,000 after buying an additional 1,010 shares in the last quarter. Institutional investors own 56.21% of the company’s stock.
In related news, EVP Douglas F. Esamann sold 5,000 shares of Duke Energy Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $86.22, for a total transaction of $431,100.00. Following the sale, the executive vice president now owns 50,316 shares of the company’s stock, valued at approximately $4,338,245.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.
Several research analysts have recently weighed in on the company. BMO Capital Markets restated a “hold” rating and set a $87.00 target price (up from $85.00) on shares of Duke Energy Corporation in a report on Friday, August 4th. Zacks Investment Research upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Tuesday, July 11th. Morgan Stanley boosted their target price on Duke Energy Corporation from $87.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Deutsche Bank AG restated a “hold” rating and set a $84.00 target price (up from $83.00) on shares of Duke Energy Corporation in a report on Wednesday, August 9th. Finally, BidaskClub upgraded Duke Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $84.18.
Duke Energy Corporation (DUK) opened at 86.79 on Monday. The stock has a market cap of $60.75 billion, a price-to-earnings ratio of 25.71 and a beta of 0.24. Duke Energy Corporation has a 12-month low of $72.34 and a 12-month high of $88.40. The company has a 50-day moving average price of $86.01 and a 200 day moving average price of $84.83.
Duke Energy Corporation (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, hitting the Thomson Reuters’ consensus estimate of $1.01. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts predict that Duke Energy Corporation will post $4.60 EPS for the current year.
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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