Duke Energy Corp (DUK) Shares Sold by Steinberg Global Asset Management
Steinberg Global Asset Management reduced its holdings in shares of Duke Energy Corp (NYSE:DUK) by 1.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 86,845 shares of the utilities provider’s stock after selling 949 shares during the period. Steinberg Global Asset Management’s holdings in Duke Energy were worth $7,288,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Davis R M Inc. lifted its stake in shares of Duke Energy by 28.2% during the 3rd quarter. Davis R M Inc. now owns 3,181 shares of the utilities provider’s stock worth $267,000 after acquiring an additional 699 shares during the last quarter. TIAA FSB raised its position in Duke Energy by 6.1% during the 3rd quarter. TIAA FSB now owns 140,897 shares of the utilities provider’s stock valued at $11,824,000 after purchasing an additional 8,129 shares in the last quarter. First Trust Advisors LP raised its position in Duke Energy by 15.0% during the 3rd quarter. First Trust Advisors LP now owns 1,308,897 shares of the utilities provider’s stock valued at $109,843,000 after purchasing an additional 171,070 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Duke Energy by 3.3% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 57,313 shares of the utilities provider’s stock valued at $4,810,000 after purchasing an additional 1,808 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Duke Energy by 0.6% during the 3rd quarter. Nationwide Fund Advisors now owns 197,222 shares of the utilities provider’s stock valued at $16,551,000 after purchasing an additional 1,101 shares in the last quarter. 57.34% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Lloyd M. Yates sold 5,000 shares of Duke Energy stock in a transaction on Monday, November 13th. The stock was sold at an average price of $89.95, for a total value of $449,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.
A number of brokerages have weighed in on DUK. Morgan Stanley lifted their target price on Duke Energy from $87.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $87.00 target price (up from $85.00) on shares of Duke Energy in a research report on Friday, August 4th. Zacks Investment Research raised Duke Energy from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Thursday, August 24th. Deutsche Bank reaffirmed a “hold” rating and set a $84.00 target price (up from $83.00) on shares of Duke Energy in a research report on Wednesday, August 9th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $90.00 target price on shares of Duke Energy in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $86.90.
Duke Energy Corp (NYSE:DUK) opened at $89.00 on Thursday. Duke Energy Corp has a fifty-two week low of $72.34 and a fifty-two week high of $91.80. The stock has a market capitalization of $62,283.83, a price-to-earnings ratio of 20.00, a PEG ratio of 4.87 and a beta of 0.26. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.71 and a quick ratio of 0.41.
Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Friday, November 3rd. The utilities provider reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.03. Duke Energy had a return on equity of 7.54% and a net margin of 9.09%. The business had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $7.43 billion. During the same period last year, the business posted $1.68 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. sell-side analysts anticipate that Duke Energy Corp will post 4.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Friday, November 17th will be issued a $0.89 dividend. The ex-dividend date is Thursday, November 16th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.00%. Duke Energy’s dividend payout ratio is presently 117.49%.
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About Duke Energy
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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