InterOcean Capital LLC reduced its position in shares of Duke Energy Corp (NYSE:DUK) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,217 shares of the utilities provider’s stock after selling 166 shares during the quarter. InterOcean Capital LLC’s holdings in Duke Energy were worth $1,078,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Duke Energy by 2.6% in the first quarter. BlackRock Inc. now owns 49,544,716 shares of the utilities provider’s stock valued at $4,459,023,000 after acquiring an additional 1,274,643 shares in the last quarter. Geode Capital Management LLC grew its holdings in Duke Energy by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 8,951,045 shares of the utilities provider’s stock valued at $771,079,000 after purchasing an additional 750,534 shares during the period. California Public Employees Retirement System grew its holdings in Duke Energy by 19.7% during the first quarter. California Public Employees Retirement System now owns 4,394,565 shares of the utilities provider’s stock valued at $395,511,000 after purchasing an additional 724,378 shares during the period. Northern Trust Corp lifted its position in shares of Duke Energy by 6.1% during the second quarter. Northern Trust Corp now owns 9,852,985 shares of the utilities provider’s stock worth $869,427,000 after acquiring an additional 566,287 shares in the last quarter. Finally, Mondrian Investment Partners LTD lifted its position in shares of Duke Energy by 48,409.6% during the second quarter. Mondrian Investment Partners LTD now owns 529,240 shares of the utilities provider’s stock worth $46,700,000 after acquiring an additional 528,149 shares in the last quarter. 60.27% of the stock is currently owned by institutional investors and hedge funds.
NYSE:DUK opened at $94.52 on Friday. The company has a market cap of $69.19 billion, a P/E ratio of 20.02, a P/E/G ratio of 3.86 and a beta of 0.09. The stock’s fifty day moving average price is $90.36 and its two-hundred day moving average price is $89.29. Duke Energy Corp has a 1 year low of $78.00 and a 1 year high of $95.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.71 and a quick ratio of 0.47.
Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.14. Duke Energy had a return on equity of 8.02% and a net margin of 13.23%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the business posted $0.93 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, analysts expect that Duke Energy Corp will post 4.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Thursday, August 15th. This is an increase from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s dividend payout ratio (DPR) is 80.08%.
In related news, SVP Dwight L. Jacobs sold 1,700 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.05, for a total value of $154,785.00. Following the sale, the senior vice president now owns 4,891 shares in the company, valued at $445,325.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lloyd M. Yates sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $90.81, for a total value of $1,816,200.00. Following the completion of the sale, the executive vice president now owns 41,154 shares in the company, valued at approximately $3,737,194.74. The disclosure for this sale can be found here. Insiders sold 26,362 shares of company stock worth $2,401,576 in the last quarter. 0.09% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on the company. KeyCorp assumed coverage on Duke Energy in a research report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Zacks Investment Research downgraded Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 target price on the stock. in a research report on Wednesday, June 26th. JPMorgan Chase & Co. set a $90.00 target price on Duke Energy and gave the stock a “hold” rating in a research report on Monday, May 20th. ValuEngine downgraded Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Finally, Barclays dropped their target price on Duke Energy from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $92.44.
Duke Energy Profile
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
Further Reading: Cost of Debt
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