Banque Cantonale Vaudoise decreased its stake in Duke Energy Co. (NYSE:DUK – Get Rating) by 32.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,784 shares of the utilities provider’s stock after selling 9,800 shares during the period. Banque Cantonale Vaudoise’s holdings in Duke Energy were worth $2,321,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Regal Investment Advisors LLC increased its position in shares of Duke Energy by 8.9% during the first quarter. Regal Investment Advisors LLC now owns 33,945 shares of the utilities provider’s stock worth $3,791,000 after buying an additional 2,776 shares during the period. Wolff Wiese Magana LLC increased its position in shares of Duke Energy by 2.1% during the first quarter. Wolff Wiese Magana LLC now owns 15,482 shares of the utilities provider’s stock worth $1,729,000 after buying an additional 312 shares during the period. Stiles Financial Services Inc increased its position in shares of Duke Energy by 6.0% during the first quarter. Stiles Financial Services Inc now owns 10,655 shares of the utilities provider’s stock worth $1,190,000 after buying an additional 607 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Duke Energy by 396.9% during the first quarter. Los Angeles Capital Management LLC now owns 22,106 shares of the utilities provider’s stock worth $2,468,000 after buying an additional 17,657 shares during the period. Finally, Arete Wealth Advisors LLC increased its position in shares of Duke Energy by 7.7% during the first quarter. Arete Wealth Advisors LLC now owns 12,000 shares of the utilities provider’s stock worth $1,340,000 after buying an additional 855 shares during the period. Institutional investors own 62.35% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on DUK. Credit Suisse Group cut shares of Duke Energy from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $112.00 to $114.00 in a research report on Friday. Barclays decreased their price objective on shares of Duke Energy from $119.00 to $110.00 in a research report on Monday, July 18th. UBS Group cut shares of Duke Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $122.00 to $112.00 in a report on Thursday, June 30th. Morgan Stanley raised their price target on shares of Duke Energy from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, July 21st. Finally, KeyCorp reduced their price target on shares of Duke Energy from $121.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $111.91.
Duke Energy Stock Down 0.5 %
Duke Energy (NYSE:DUK – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Duke Energy had a net margin of 14.50% and a return on equity of 8.42%. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $5.79 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities research analysts predict that Duke Energy Co. will post 5.45 earnings per share for the current fiscal year.
Duke Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 12th will be given a dividend of $1.005 per share. This is a positive change from Duke Energy’s previous quarterly dividend of $0.99. This represents a $4.02 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, August 11th. Duke Energy’s dividend payout ratio (DPR) is presently 79.76%.
Insider Activity at Duke Energy
In related news, CFO Steven K. Young sold 415 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $109.87, for a total transaction of $45,596.05. Following the completion of the sale, the chief financial officer now owns 113,657 shares in the company, valued at $12,487,494.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,245 shares of company stock valued at $137,021 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.
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; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.
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