Duke Energy Corp (DUK) Position Trimmed by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. lowered its stake in Duke Energy Corp (NYSE:DUK) by 0.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 138,215 shares of the utilities provider’s stock after selling 885 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Duke Energy were worth $10,930,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Landaas & Co. WI ADV purchased a new stake in Duke Energy in the 2nd quarter worth $110,000. Centersquare Investment Management LLC purchased a new stake in Duke Energy in the 1st quarter worth $122,000. Kaizen Advisory LLC lifted its stake in Duke Energy by 125.8% in the 2nd quarter. Kaizen Advisory LLC now owns 1,540 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 858 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Duke Energy by 137.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,732 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in Duke Energy by 48.5% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,164 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 707 shares in the last quarter. Institutional investors and hedge funds own 59.06% of the company’s stock.
Shares of NYSE DUK opened at $82.47 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 0.66. The stock has a market cap of $59.46 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 3.81 and a beta of 0.04. Duke Energy Corp has a 12-month low of $71.96 and a 12-month high of $91.80.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 17th will be given a $0.9275 dividend. This is a positive change from Duke Energy’s previous quarterly dividend of $0.89. This represents a $3.71 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Thursday, August 16th. Duke Energy’s dividend payout ratio is 81.18%.
In related news, EVP Melissa H. Anderson sold 500 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $81.76, for a total value of $40,880.00. Following the sale, the executive vice president now directly owns 15,096 shares of the company’s stock, valued at approximately $1,234,248.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Dhiaa M. Jamil sold 7,000 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $80.98, for a total transaction of $566,860.00. Following the completion of the sale, the chief operating officer now directly owns 4,279 shares in the company, valued at $346,513.42. The disclosure for this sale can be found here. Insiders sold a total of 11,779 shares of company stock worth $956,650 over the last three months. 0.07% of the stock is currently owned by corporate insiders.
Several analysts have commented on the stock. Zacks Investment Research cut shares of Duke Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. ValuEngine upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Howard Weil assumed coverage on shares of Duke Energy in a research note on Tuesday, July 24th. They issued a “sector outperform” rating and a $85.00 price target on the stock. Morgan Stanley boosted their price target on shares of Duke Energy from $79.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Duke Energy from $77.00 to $72.00 and set an “underweight” rating on the stock in a research report on Thursday, June 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $83.69.
Duke Energy Company Profile
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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