Visionary Asset Management Inc. Invests $217,000 in Duke Energy Corp (DUK)
Visionary Asset Management Inc. acquired a new position in shares of Duke Energy Corp (NYSE:DUK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,520 shares of the utilities provider’s stock, valued at approximately $217,000.
Several other large investors have also recently bought and sold shares of the stock. Putnam Investments LLC boosted its position in Duke Energy by 0.9% during the third quarter. Putnam Investments LLC now owns 259,153 shares of the utilities provider’s stock valued at $20,737,000 after purchasing an additional 2,344 shares during the last quarter. Morgan Stanley boosted its position in Duke Energy by 13.8% during the third quarter. Morgan Stanley now owns 3,792,774 shares of the utilities provider’s stock valued at $303,498,000 after purchasing an additional 460,092 shares during the last quarter. Millennium Management LLC boosted its position in Duke Energy by 23.2% during the second quarter. Millennium Management LLC now owns 1,740,617 shares of the utilities provider’s stock valued at $137,648,000 after purchasing an additional 328,285 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Duke Energy by 69.3% during the second quarter. Advisors Asset Management Inc. now owns 214,894 shares of the utilities provider’s stock valued at $16,994,000 after purchasing an additional 87,950 shares during the last quarter. Finally, Thomasville National Bank boosted its position in Duke Energy by 0.8% during the third quarter. Thomasville National Bank now owns 146,023 shares of the utilities provider’s stock valued at $11,685,000 after purchasing an additional 1,225 shares during the last quarter. Institutional investors and hedge funds own 59.40% of the company’s stock.
DUK has been the subject of several recent research reports. Morgan Stanley reduced their price target on Duke Energy from $91.00 to $85.00 and set a “hold” rating for the company in a research report on Friday, September 21st. Barclays raised their price objective on Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Wells Fargo & Co raised their price objective on Duke Energy from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Zacks Investment Research cut Duke Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Bank of America cut Duke Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $88.00 to $87.00 in a research report on Wednesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.25.
Duke Energy (NYSE:DUK) last released its quarterly earnings results on Friday, November 2nd. The utilities provider reported $1.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.12. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Duke Energy had a return on equity of 8.02% and a net margin of 11.98%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $1.59 EPS. As a group, equities research analysts forecast that Duke Energy Corp will post 4.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Friday, February 15th will be issued a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $3.71 annualized dividend and a yield of 4.38%. Duke Energy’s payout ratio is currently 81.18%.
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About Duke Energy
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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