Brandywine Global Investment Management LLC Cuts Holdings in Duke Energy Corp (DUK)

Brandywine Global Investment Management LLC lowered its position in Duke Energy Corp (NYSE:DUK) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 506,846 shares of the utilities provider’s stock after selling 4,209 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.07% of Duke Energy worth $43,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of Duke Energy by 13.8% during the third quarter. Morgan Stanley now owns 3,792,774 shares of the utilities provider’s stock valued at $303,498,000 after purchasing an additional 460,092 shares during the period. First Mercantile Trust Co. boosted its stake in shares of Duke Energy by 69.4% during the fourth quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 430 shares during the period. Union Bankshares Corp boosted its stake in shares of Duke Energy by 43.4% during the fourth quarter. Union Bankshares Corp now owns 8,386 shares of the utilities provider’s stock valued at $724,000 after purchasing an additional 2,536 shares during the period. Putnam Investments LLC boosted its stake in shares of Duke Energy by 0.9% during the third quarter. Putnam Investments LLC now owns 259,153 shares of the utilities provider’s stock valued at $20,737,000 after purchasing an additional 2,344 shares during the period. Finally, First National Bank of Omaha boosted its stake in shares of Duke Energy by 0.8% during the fourth quarter. First National Bank of Omaha now owns 54,166 shares of the utilities provider’s stock valued at $4,675,000 after purchasing an additional 430 shares during the period. 61.97% of the stock is owned by institutional investors and hedge funds.

Shares of Duke Energy stock opened at $90.65 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company has a market cap of $65.90 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 3.64 and a beta of 0.06. Duke Energy Corp has a 52 week low of $71.96 and a 52 week high of $91.35.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, February 14th. The utilities provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.05). The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.84 billion. Duke Energy had a net margin of 10.87% and a return on equity of 7.80%. Duke Energy’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. On average, equities analysts predict that Duke Energy Corp will post 4.97 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Friday, February 15th will be issued a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.09%. Duke Energy’s dividend payout ratio is presently 78.60%.

A number of research firms have recently weighed in on DUK. ValuEngine raised Duke Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Barclays increased their price objective on Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Bank of America increased their price objective on Duke Energy from $89.00 to $91.00 and gave the company a “neutral” rating in a research note on Monday, March 11th. Credit Suisse Group lowered Duke Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, February 15th. Finally, Zacks Investment Research lowered Duke Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Duke Energy has an average rating of “Hold” and an average price target of $85.08.

In related news, Chairman Lynn J. Good sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $89.92, for a total transaction of $1,348,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Melissa H. Anderson sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $87.49, for a total value of $174,980.00. Following the transaction, the executive vice president now owns 18,198 shares of the company’s stock, valued at approximately $1,592,143.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,250 shares of company stock valued at $1,900,878. 0.08% of the stock is owned by corporate insiders.

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Duke Energy Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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