Duke Energy Corporation (DUK) Position Lowered by Palisades Hudson Asset Management L.P.
Palisades Hudson Asset Management L.P. cut its stake in shares of Duke Energy Corporation (NYSE:DUK) by 19.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,628 shares of the utilities provider’s stock after selling 619 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Duke Energy Corporation were worth $216,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Stonebridge Capital Advisors LLC increased its position in Duke Energy Corporation by 2.3% in the first quarter. Stonebridge Capital Advisors LLC now owns 9,003 shares of the utilities provider’s stock valued at $738,000 after buying an additional 200 shares in the last quarter. Achmea Investment Management B.V. bought a new position in Duke Energy Corporation during the first quarter valued at approximately $3,063,000. Community Financial Services Group LLC increased its position in Duke Energy Corporation by 0.6% in the first quarter. Community Financial Services Group LLC now owns 43,504 shares of the utilities provider’s stock valued at $3,567,000 after buying an additional 248 shares in the last quarter. North Star Asset Management Inc. bought a new position in Duke Energy Corporation during the first quarter valued at approximately $258,000. Finally, Bank of Nova Scotia increased its position in Duke Energy Corporation by 1,638.8% in the first quarter. Bank of Nova Scotia now owns 271,023 shares of the utilities provider’s stock valued at $22,296,000 after buying an additional 255,436 shares in the last quarter. 55.41% of the stock is currently owned by institutional investors and hedge funds.
Duke Energy Corporation (DUK) traded up 0.08% on Wednesday, reaching $86.07. 514,928 shares of the company’s stock were exchanged. The stock has a market cap of $60.24 billion, a price-to-earnings ratio of 25.49 and a beta of 0.24. Duke Energy Corporation has a one year low of $72.34 and a one year high of $87.75. The firm has a 50 day moving average of $84.79 and a 200-day moving average of $83.06.
Duke Energy Corporation (NYSE:DUK) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.01. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.76 billion. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities research analysts forecast that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.89 per share. The ex-dividend date is Wednesday, August 16th. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 dividend on an annualized basis and a yield of 4.10%. Duke Energy Corporation’s dividend payout ratio is 101.48%.
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Several research firms recently commented on DUK. Deutsche Bank AG reaffirmed a “hold” rating and issued a $84.00 price target (up previously from $83.00) on shares of Duke Energy Corporation in a research note on Wednesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating and issued a $87.00 price target (up previously from $85.00) on shares of Duke Energy Corporation in a research note on Friday, August 4th. Morgan Stanley raised their price target on shares of Duke Energy Corporation from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) raised shares of Duke Energy Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $82.00 to $85.00 in a research note on Monday, June 26th. Finally, BidaskClub downgraded shares of Duke Energy Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $82.71.
In other Duke Energy Corporation news, EVP Douglas F. Esamann sold 5,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $86.22, for a total transaction of $431,100.00. Following the sale, the executive vice president now directly owns 50,316 shares in the company, valued at $4,338,245.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Marie Mckee sold 1,937 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total transaction of $165,206.73. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
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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