6 Meridian Trims Stake in Duke Energy Corp (DUK)
6 Meridian decreased its position in shares of Duke Energy Corp (NYSE:DUK) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 216,002 shares of the utilities provider’s stock after selling 1,285 shares during the quarter. Duke Energy accounts for about 1.8% of 6 Meridian’s holdings, making the stock its 9th biggest holding. 6 Meridian’s holdings in Duke Energy were worth $17,081,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Landaas & Co. WI ADV bought a new stake in shares of Duke Energy during the second quarter valued at about $110,000. Centersquare Investment Management LLC purchased a new position in Duke Energy in the 1st quarter worth about $122,000. Kaizen Advisory LLC increased its stake in Duke Energy by 125.8% in the 2nd quarter. Kaizen Advisory LLC now owns 1,540 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 858 shares in the last quarter. AdvisorNet Financial Inc increased its stake in Duke Energy by 137.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,732 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in Duke Energy by 48.5% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,164 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 707 shares in the last quarter. 59.06% of the stock is owned by institutional investors.
Shares of DUK opened at $81.42 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17. Duke Energy Corp has a 12-month low of $71.96 and a 12-month high of $91.80. The firm has a market cap of $57.87 billion, a PE ratio of 17.82, a PEG ratio of 3.71 and a beta of 0.04.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 17th will be paid a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Thursday, August 16th. This is a positive change from Duke Energy’s previous quarterly dividend of $0.89. Duke Energy’s dividend payout ratio is 81.18%.
In other news, EVP Melissa H. Anderson sold 500 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $81.76, for a total transaction of $40,880.00. Following the transaction, the executive vice president now owns 15,096 shares of the company’s stock, valued at $1,234,248.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Dhiaa M. Jamil sold 4,279 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $81.54, for a total value of $348,909.66. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock worth $956,650 in the last ninety days. 0.08% of the stock is currently owned by insiders.
DUK has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised Duke Energy from an “underweight” rating to a “neutral” rating and set a $72.00 price target on the stock in a research note on Monday, July 23rd. Barclays initiated coverage on Duke Energy in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $86.00 price target on the stock. ValuEngine cut Duke Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Zacks Investment Research raised Duke Energy from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Wednesday, May 30th. Finally, Citigroup raised Duke Energy from a “sell” rating to a “neutral” rating and set a $77.00 price target on the stock in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Duke Energy has an average rating of “Hold” and a consensus price target of $83.69.
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; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
Further Reading: Outstanding Shares and The Effect on Share Price
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