Massachusetts Financial Services Co. MA Sells 932,815 Shares of Duke Energy Corporation $DUK

Massachusetts Financial Services Co. MA reduced its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,174,810 shares of the utilities provider’s stock after selling 932,815 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Duke Energy were worth $2,026,628,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of DUK. Activest Wealth Management grew its position in shares of Duke Energy by 98.1% in the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock valued at $26,000 after buying an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Duke Energy in the first quarter worth approximately $27,000. Legacy Investment Solutions LLC bought a new stake in Duke Energy in the second quarter valued at approximately $28,000. Mascoma Wealth Management LLC raised its holdings in Duke Energy by 53.7% during the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 87 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Transactions at Duke Energy

In related news, SVP Bonnie B. Titone sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the sale, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $122.74 on Friday. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $130.03. The stock’s 50 day moving average is $124.17 and its 200-day moving average is $120.92. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $95.45 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.05 and a beta of 0.45.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.51 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.62 earnings per share. Sell-side analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. Duke Energy’s payout ratio is presently 66.98%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Duke Energy from $127.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. UBS Group upped their target price on Duke Energy from $131.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Jefferies Financial Group lifted their target price on Duke Energy from $134.00 to $138.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. TD Cowen assumed coverage on shares of Duke Energy in a research report on Thursday, October 16th. They set a “buy” rating and a $143.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.63.

About Duke Energy

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.