Pinnacle Bank boosted its holdings in Duke Energy Corp (NYSE:DUK) by 46.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,869 shares of the utilities provider’s stock after acquiring an additional 913 shares during the quarter. Pinnacle Bank’s holdings in Duke Energy were worth $229,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of DUK. State Street Corp boosted its position in shares of Duke Energy by 1.8% during the 1st quarter. State Street Corp now owns 40,579,311 shares of the utilities provider’s stock valued at $3,282,055,000 after purchasing an additional 724,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Duke Energy by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 24,684,152 shares of the utilities provider’s stock worth $1,996,454,000 after buying an additional 403,703 shares in the last quarter. Wellington Management Group LLP grew its position in Duke Energy by 14.8% in the first quarter. Wellington Management Group LLP now owns 15,413,073 shares of the utilities provider’s stock worth $1,246,611,000 after buying an additional 1,987,105 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Duke Energy by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 12,469,974 shares of the utilities provider’s stock valued at $1,137,386,000 after buying an additional 36,996 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Duke Energy by 1.1% during the 1st quarter. Invesco Ltd. now owns 12,167,002 shares of the utilities provider’s stock valued at $984,066,000 after acquiring an additional 130,788 shares during the last quarter. Hedge funds and other institutional investors own 64.18% of the company’s stock.
Duke Energy stock traded up $0.91 during trading hours on Tuesday, hitting $80.72. The company had a trading volume of 186,712 shares, compared to its average volume of 3,783,140. Duke Energy Corp has a fifty-two week low of $62.13 and a fifty-two week high of $103.79. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.67 and a quick ratio of 0.45. The firm has a market capitalization of $60.14 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 3.44 and a beta of 0.31. The firm’s fifty day moving average is $84.43 and its 200-day moving average is $88.29.
Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, May 12th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.05). Duke Energy had a net margin of 15.17% and a return on equity of 8.13%. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. Analysts anticipate that Duke Energy Corp will post 5.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be given a $0.965 dividend. This is a positive change from Duke Energy’s previous quarterly dividend of $0.95. This represents a $3.86 annualized dividend and a yield of 4.78%. Duke Energy’s dividend payout ratio is presently 74.70%.
In related news, SVP Harry K. Sideris sold 1,285 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $80.42, for a total value of $103,339.70. Following the transaction, the senior vice president now owns 5,396 shares in the company, valued at $433,946.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Dwight L. Jacobs sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $84.11, for a total transaction of $126,165.00. Following the transaction, the senior vice president now directly owns 5,191 shares in the company, valued at approximately $436,615.01. The disclosure for this sale can be found here. Insiders have sold a total of 3,549 shares of company stock valued at $293,126 over the last ninety days. Company insiders own 0.11% of the company’s stock.
A number of equities analysts recently issued reports on the company. Seaport Global Securities initiated coverage on Duke Energy in a report on Tuesday, June 9th. They issued a “neutral” rating on the stock. Wells Fargo & Co cut their price objective on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. Bank of America reaffirmed a “neutral” rating and set a $83.00 price objective (down from $93.00) on shares of Duke Energy in a research note on Wednesday, May 13th. Morgan Stanley lifted their target price on shares of Duke Energy from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 17th. Finally, Barclays cut their price target on shares of Duke Energy from $104.00 to $79.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Duke Energy currently has a consensus rating of “Hold” and a consensus target price of $93.43.
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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