Corundum Group Inc. Decreases Stock Position in Duke Energy Corporation (NYSE:DUK)

Corundum Group Inc. trimmed its holdings in Duke Energy Corporation (NYSE:DUK) by 34.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,511 shares of the utilities provider’s stock after selling 5,020 shares during the period. Corundum Group Inc.’s holdings in Duke Energy were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Duke Energy by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 72,885,939 shares of the utilities provider’s stock valued at $7,852,731,000 after purchasing an additional 779,054 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Duke Energy by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,097,796 shares of the utilities provider’s stock worth $1,949,857,000 after acquiring an additional 124,863 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Duke Energy by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 17,873,788 shares of the utilities provider’s stock worth $1,930,833,000 after acquiring an additional 385,612 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Duke Energy by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,562,545 shares of the utilities provider’s stock worth $922,529,000 after acquiring an additional 135,665 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Duke Energy by 4.4% in the 4th quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider’s stock worth $916,168,000 after buying an additional 357,967 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Trading Up 0.0%

Shares of DUK stock opened at $116.98 on Wednesday. Duke Energy Corporation has a twelve month low of $99.21 and a twelve month high of $125.27. The company has a market capitalization of $90.92 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.92 and a beta of 0.37. The firm has a 50-day moving average price of $117.81 and a 200 day moving average price of $114.97. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.17. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. Research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued a dividend of $1.045 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.57%. Duke Energy’s dividend payout ratio (DPR) is 69.32%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Guggenheim upped their target price on shares of Duke Energy from $132.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Raymond James Financial started coverage on Duke Energy in a report on Friday, June 13th. They set a “market perform” rating for the company. Wells Fargo & Company increased their target price on shares of Duke Energy from $127.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Citigroup increased their price objective on shares of Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley lowered their price objective on Duke Energy from $125.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 18th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and a consensus target price of $125.75.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.