Centre Asset Management LLC Cuts Stock Holdings in Duke Energy Corp (NYSE:DUK)
Centre Asset Management LLC decreased its holdings in shares of Duke Energy Corp (NYSE:DUK) by 14.4% during the fourth quarter, HoldingsChannel reports. The firm owned 8,749 shares of the utilities provider’s stock after selling 1,470 shares during the period. Centre Asset Management LLC’s holdings in Duke Energy were worth $798,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Atwater Malick LLC acquired a new stake in Duke Energy in the 3rd quarter worth approximately $26,000. Ellevest Inc. lifted its stake in shares of Duke Energy by 334.8% in the 2nd quarter. Ellevest Inc. now owns 400 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 308 shares during the period. Selective Wealth Management Inc. acquired a new position in shares of Duke Energy in the 3rd quarter valued at $36,000. Northwest Investment Counselors LLC acquired a new position in shares of Duke Energy in the 3rd quarter valued at $38,000. Finally, Kempen Capital Management N.V. lifted its stake in shares of Duke Energy by 25.8% in the 2nd quarter. Kempen Capital Management N.V. now owns 673 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 138 shares during the period. 60.16% of the stock is currently owned by institutional investors and hedge funds.
DUK has been the subject of several analyst reports. Bank of America cut shares of Duke Energy to an “underperform” rating and boosted their target price for the company from to in a research note on Monday. Mizuho initiated coverage on shares of Duke Energy in a research note on Friday, November 22nd. They issued a “neutral” rating and a $90.00 target price for the company. Evercore ISI reiterated a “hold” rating and issued a $92.00 target price on shares of Duke Energy in a research note on Wednesday, December 4th. Goldman Sachs Group upgraded shares of Duke Energy from a “sell” rating to a “buy” rating and boosted their target price for the company from $88.00 to $93.00 in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $91.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $95.17.
Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.69 by $0.10. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $7.24 billion. Duke Energy had a net margin of 14.10% and a return on equity of 8.24%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 EPS. On average, sell-side analysts anticipate that Duke Energy Corp will post 5.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 14th will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 4.14%. The ex-dividend date is Thursday, February 13th. Duke Energy’s payout ratio is presently 80.08%.
Duke Energy Company Profile
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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