Swiss National Bank decreased its stake in shares of Duke Energy Corp (NYSE:DUK) by 0.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,117,491 shares of the utilities provider’s stock after selling 28,900 shares during the quarter. Swiss National Bank’s holdings in Duke Energy were worth $275,087,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Duke Energy by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,311,505 shares of the utilities provider’s stock valued at $113,181,000 after purchasing an additional 52,498 shares during the last quarter. Geode Capital Management LLC lifted 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 last quarter. USS Investment Management Ltd purchased a new stake in Duke Energy during the first quarter valued at about $37,519,000. First Manhattan Co. lifted its holdings in Duke Energy by 2.7% during the first quarter. First Manhattan Co. now owns 9,970 shares of the utilities provider’s stock valued at $897,000 after purchasing an additional 264 shares during the last quarter. Finally, First Command Bank lifted its holdings in Duke Energy by 12.6% during the first quarter. First Command Bank now owns 3,998 shares of the utilities provider’s stock valued at $360,000 after purchasing an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.
DUK has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 price objective on the stock. in a report on Wednesday, June 26th. Barclays lowered their price target on shares of Duke Energy from $96.00 to $94.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Bank of America downgraded shares of Duke Energy from a “neutral” rating to an “underperform” rating in a report on Monday, May 13th. Morgan Stanley lowered their price target on shares of Duke Energy from $99.00 to $92.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup lowered their price target on shares of Duke Energy from $91.00 to $88.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Duke Energy presently has a consensus rating of “Hold” and a consensus target price of $90.50.
Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.14. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Duke Energy Corp will post 4.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from Duke Energy’s previous quarterly dividend of $0.93. The ex-dividend date is Thursday, August 15th. Duke Energy’s dividend payout ratio is presently 78.60%.
In related news, EVP Lloyd M. Yates sold 5,117 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total value of $451,319.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director E Marie Mckee sold 1,781 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $87.37, for a total transaction of $155,605.97. Following the completion of the sale, the director now directly owns 1 shares in the company, valued at $87.37. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
About Duke Energy
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.
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