Cornerstone Capital Inc. Has $4.22 Million Stake in Duke Energy Corporation (DUK)
Cornerstone Capital Inc. reduced its stake in Duke Energy Corporation (NYSE:DUK) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,495 shares of the utilities provider’s stock after selling 46 shares during the period. Cornerstone Capital Inc.’s holdings in Duke Energy Corporation were worth $4,221,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Winfield Associates Inc. grew its stake in shares of Duke Energy Corporation by 14.3% in the 2nd quarter. Winfield Associates Inc. now owns 1,322 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 165 shares during the period. Jolley Asset Management LLC grew its stake in shares of Duke Energy Corporation by 26.4% in the 2nd quarter. Jolley Asset Management LLC now owns 1,499 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 313 shares during the period. Daiwa SB Investments Ltd. bought a new stake in shares of Duke Energy Corporation in the 2nd quarter valued at approximately $130,000. Advantage Investment Management LLC grew its stake in shares of Duke Energy Corporation by 37.4% in the 1st quarter. Advantage Investment Management LLC now owns 1,697 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 462 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Duke Energy Corporation by 84.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,848 shares of the utilities provider’s stock valued at $152,000 after purchasing an additional 848 shares during the period. Institutional investors own 56.22% of the company’s stock.
Shares of Duke Energy Corporation (NYSE DUK) opened at 84.47 on Thursday. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $88.40. The company has a market capitalization of $59.12 billion, a price-to-earnings ratio of 25.02 and a beta of 0.24. The company’s 50-day moving average price is $86.21 and its 200-day moving average price is $84.65.
Duke Energy Corporation (NYSE:DUK) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. Equities research analysts forecast that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Friday, August 18th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 4.21%. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, August 16th. Duke Energy Corporation’s dividend payout ratio (DPR) is 105.64%.
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In related news, EVP Douglas F. Esamann sold 5,000 shares of Duke Energy Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $86.22, for a total value of $431,100.00. Following the transaction, the executive vice president now directly owns 50,316 shares of the company’s stock, valued at $4,338,245.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.
Several equities research analysts have recently weighed in on DUK shares. Zacks Investment Research lowered Duke Energy Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) upgraded Duke Energy Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $82.00 to $85.00 in a research note on Monday, June 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $87.00 price objective (down from $91.00) on shares of Duke Energy Corporation in a research note on Monday, July 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Duke Energy Corporation in a research note on Friday, September 1st. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $83.31.
About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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