Duke Energy Corporation (DUK) Position Lowered by Tower Bridge Advisors
Tower Bridge Advisors reduced its position in shares of Duke Energy Corporation (NYSE:DUK) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,424 shares of the utilities provider’s stock after selling 83 shares during the period. Tower Bridge Advisors’ holdings in Duke Energy Corporation were worth $453,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in DUK. Vanguard Group Inc. increased its position in Duke Energy Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 48,471,025 shares of the utilities provider’s stock worth $3,975,109,000 after buying an additional 1,918,598 shares during the period. BlackRock Inc. increased its position in Duke Energy Corporation by 2,866.0% in the first quarter. BlackRock Inc. now owns 42,708,918 shares of the utilities provider’s stock worth $3,502,557,000 after buying an additional 41,268,968 shares during the period. State Street Corp increased its position in Duke Energy Corporation by 1.3% in the first quarter. State Street Corp now owns 33,919,431 shares of the utilities provider’s stock worth $2,781,737,000 after buying an additional 451,100 shares during the period. Massachusetts Financial Services Co. MA increased its position in Duke Energy Corporation by 33.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,422,063 shares of the utilities provider’s stock worth $772,704,000 after buying an additional 2,345,114 shares during the period. Finally, Geode Capital Management LLC increased its position in Duke Energy Corporation by 8.6% in the first quarter. Geode Capital Management LLC now owns 7,138,784 shares of the utilities provider’s stock worth $584,660,000 after buying an additional 567,019 shares during the period. 56.22% of the stock is currently owned by institutional investors.
Duke Energy Corporation (NYSE:DUK) opened at 87.28 on Thursday. Duke Energy Corporation has a 12-month low of $72.34 and a 12-month high of $87.75. The company has a market capitalization of $61.09 billion, a price-to-earnings ratio of 25.85 and a beta of 0.24. The stock has a 50 day moving average price of $85.34 and a 200 day moving average price of $83.50.
Duke Energy Corporation (NYSE:DUK) last posted 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 business had revenue of $5.56 billion during 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 business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $1.07 earnings per share. On average, analysts expect that Duke Energy Corporation will post $4.60 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. Duke Energy Corporation’s dividend payout ratio (DPR) is currently 105.64%.
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DUK has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price target on shares of Duke Energy Corporation in a research note on Wednesday, May 10th. Zacks Investment Research downgraded Duke Energy Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Goldman Sachs Group, Inc. (The) raised Duke Energy Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $82.00 to $85.00 in a research note on Monday, June 26th. BidaskClub raised Duke Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $87.00 price target (down from $91.00) on shares of Duke Energy Corporation in a research note on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $82.91.
In other news, EVP Douglas F. Esamann sold 5,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 50,316 shares in the company, valued at $4,338,245.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.
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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