Vectors Research Management LLC decreased its holdings in shares of Duke Energy Co. (NYSE:DUK – Get Rating) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,363 shares of the utilities provider’s stock after selling 1,994 shares during the quarter. Vectors Research Management LLC’s holdings in Duke Energy were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. San Luis Wealth Advisors LLC purchased a new position in Duke Energy in the first quarter valued at about $35,000. Fairfield Bush & CO. acquired a new position in shares of Duke Energy during the 1st quarter worth about $40,000. Pinebridge Investments L.P. lifted its position in shares of Duke Energy by 331.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 431 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 331 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Duke Energy during the 1st quarter worth about $64,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Duke Energy in the 1st quarter valued at approximately $72,000. Hedge funds and other institutional investors own 63.76% of the company’s stock.
Insiders Place Their Bets
In other Duke Energy news, EVP Steven K. Young sold 415 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $93.57, for a total transaction of $38,831.55. Following the transaction, the executive vice president now owns 112,412 shares of the company’s stock, valued at approximately $10,518,390.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.
Duke Energy Price Performance
Duke Energy (NYSE:DUK – Get Rating) last released its quarterly earnings results on Friday, November 4th. The utilities provider reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.45 billion. Duke Energy had a return on equity of 8.24% and a net margin of 14.03%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. On average, equities research analysts predict that Duke Energy Co. will post 5.29 earnings per share for the current fiscal year.
Duke Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 18th will be issued a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a yield of 4.08%. The ex-dividend date is Thursday, November 17th. Duke Energy’s dividend payout ratio is 81.05%.
Analysts Set New Price Targets
DUK has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Duke Energy from $120.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Credit Suisse Group cut their price target on Duke Energy from $114.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, October 12th. KeyCorp cut their price target on Duke Energy from $116.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. BMO Capital Markets upped their price target on Duke Energy from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Monday, November 7th. Finally, Guggenheim lowered their price objective on Duke Energy from $119.00 to $97.00 in a research note on Monday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $105.09.
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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