MEMBERS Trust Co Purchases New Position in Duke Energy Corporation (DUK)
MEMBERS Trust Co purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 5,082 shares of the utilities provider’s stock, valued at approximately $416,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Bank bought a new position in shares of Duke Energy Corporation during the first quarter valued at approximately $104,000. North Star Investment Management Corp. boosted its stake in Duke Energy Corporation by 26.2% in the first quarter. North Star Investment Management Corp. now owns 1,552 shares of the utilities provider’s stock worth $127,000 after buying an additional 322 shares during the last quarter. Advantage Investment Management LLC boosted its stake in Duke Energy Corporation by 37.4% in the first quarter. Advantage Investment Management LLC now owns 1,697 shares of the utilities provider’s stock worth $139,000 after buying an additional 462 shares during the last quarter. Nicolet Bankshares Inc. boosted its stake in Duke Energy Corporation by 379.2% in the first quarter. Nicolet Bankshares Inc. now owns 1,730 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,369 shares during the last quarter. Finally, Baystate Wealth Management LLC acquired a new stake in Duke Energy Corporation during the first quarter worth about $142,000. 55.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Duke Energy Corporation (NYSE:DUK) traded down 0.34% during trading on Thursday, hitting $85.91. The stock had a trading volume of 322,533 shares. The company’s 50 day moving average price is $84.80 and its 200 day moving average price is $82.76. Duke Energy Corporation has a 52 week low of $72.34 and a 52 week high of $87.75. The company has a market capitalization of $60.13 billion, a price-to-earnings ratio of 25.45 and a beta of 0.24.
Duke Energy Corporation (NYSE:DUK) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 EPS for the quarter, meeting the Zacks’ consensus estimate 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 return on equity of 7.72% and a net margin of 9.89%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Analysts predict that Duke Energy Corporation will post $4.60 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 18th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Wednesday, August 16th. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. Duke Energy Corporation’s dividend payout ratio is currently 101.48%.
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DUK has been the subject of a number of recent analyst reports. Zacks Investment Research cut Duke Energy Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Duke Energy Corporation in a research report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) raised Duke Energy Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $82.00 to $85.00 in a research report on Monday, June 26th. Barclays PLC reaffirmed an “equal weight” rating and issued a $88.00 price objective (up from $82.00) on shares of Duke Energy Corporation in a research report on Sunday, April 23rd. Finally, BidaskClub cut Duke Energy Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $82.58.
In related news, Director E Marie Mckee sold 1,937 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total value of $165,206.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Theodore F. Craver, Jr. bought 3,500 shares of Duke Energy Corporation stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average cost of $83.73 per share, for a total transaction of $293,055.00. Following the purchase, the director now owns 5,706 shares of the company’s stock, valued at $477,763.38. The disclosure for this purchase 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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