Envestnet Portfolio Solutions Inc. Lowers Holdings in Duke Energy Corporation $DUK

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Duke Energy Corporation (NYSE:DUK) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 202,714 shares of the utilities provider’s stock after selling 7,724 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Duke Energy were worth $25,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Merit Financial Group LLC grew its position in Duke Energy by 15.7% during the second quarter. Merit Financial Group LLC now owns 70,388 shares of the utilities provider’s stock valued at $8,910,000 after buying an additional 9,562 shares during the period. Sarasin & Partners LLP raised its position in shares of Duke Energy by 15.3% in the second quarter. Sarasin & Partners LLP now owns 1,283,213 shares of the utilities provider’s stock worth $162,429,000 after acquiring an additional 170,700 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Duke Energy in the fourth quarter worth about $1,316,000. Pinebridge Investments LLC purchased a new stake in shares of Duke Energy during the 4th quarter worth about $6,326,000. Finally, Harbour Investments Inc. grew its position in shares of Duke Energy by 185.1% during the 4th quarter. Harbour Investments Inc. now owns 59,067 shares of the utilities provider’s stock valued at $6,923,000 after acquiring an additional 38,352 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of DUK traded down $2.05 during mid-day trading on Wednesday, hitting $114.26. 3,883,198 shares of the company were exchanged, compared to its average volume of 3,995,304. The stock has a market cap of $89.09 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.72 and a beta of 0.37. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49. The company has a 50 day moving average of $122.75 and a 200-day moving average of $125.58. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The company had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the firm posted $1.25 EPS. Duke Energy’s revenue was up 1.1% compared to the same quarter last year. Analysts expect that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were paid a $1.085 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $4.34 annualized dividend and a yield of 3.8%. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s dividend payout ratio is currently 65.17%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DUK shares. JPMorgan Chase & Co. lifted their price target on Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Wall Street Zen downgraded Duke Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research report on Friday, July 31st. KeyCorp raised Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 target price for the company in a research note on Thursday, July 23rd. Finally, BTIG Research reiterated a “buy” rating on shares of Duke Energy in a research report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.56.

Duke Energy Company Profile

Duke Energy Corporation is an electric and natural gas utility holding company headquartered in Charlotte, North Carolina. The company generates, transmits, distributes and sells electricity, with a generation portfolio that includes natural gas, nuclear, coal, hydroelectric and renewable energy resources. It also operates natural gas distribution businesses and provides related energy services.

Duke Energy’s regulated electric utilities serve residential, commercial and industrial customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.