Royal London Asset Management Ltd. lessened its position in shares of Duke Energy Corp (NYSE:DUK) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 279,497 shares of the utilities provider’s stock after selling 5,559 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Duke Energy were worth $24,659,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its stake in Duke Energy by 3.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,259 shares of the utilities provider’s stock valued at $640,000 after purchasing an additional 209 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Duke Energy in the 2nd quarter valued at about $44,000. AGF Investments LLC raised its stake in Duke Energy by 58.7% in the 2nd quarter. AGF Investments LLC now owns 4,448 shares of the utilities provider’s stock valued at $392,000 after purchasing an additional 1,645 shares during the last quarter. River Wealth Advisors LLC raised its stake in Duke Energy by 6.4% in the 2nd quarter. River Wealth Advisors LLC now owns 4,421 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 267 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its stake in Duke Energy by 43.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 3,766 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 1,144 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.
DUK traded up $0.23 during midday trading on Tuesday, hitting $89.73. The company’s stock had a trading volume of 878,440 shares, compared to its average volume of 2,609,566. The company has a current ratio of 0.71, a quick ratio of 0.47 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $65.39 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 3.71 and a beta of 0.12. The firm has a 50-day simple moving average of $88.60. Duke Energy Corp has a 52-week low of $78.00 and a 52-week high of $91.67.
Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 EPS for the quarter, beating the consensus estimate of $0.98 by $0.14. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy had a return on equity of 8.02% and a net margin of 13.23%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. On average, sell-side analysts forecast that Duke Energy Corp will post 4.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a $0.945 dividend. This is a boost from Duke Energy’s previous quarterly dividend of $0.93. The ex-dividend date is Thursday, August 15th. This represents a $3.78 annualized dividend and a yield of 4.21%. Duke Energy’s payout ratio is 78.60%.
In other news, SVP Dwight L. Jacobs sold 1,700 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $85.92, for a total transaction of $146,064.00. Following the completion of the sale, the senior vice president now owns 6,091 shares in the company, valued at approximately $523,338.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lloyd M. Yates sold 5,117 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $88.20, for a total value of $451,319.40. The disclosure for this sale can be found here. Insiders sold a total of 8,598 shares of company stock valued at $752,989 in the last 90 days. 0.09% of the stock is owned by company insiders.
DUK has been the subject of several analyst reports. Barclays cut their target price on shares of Duke Energy from $96.00 to $94.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. JPMorgan Chase & Co. set a $90.00 target price on shares of Duke Energy and gave the company a “hold” rating in a research note on Monday, May 20th. Bank of America downgraded shares of Duke Energy from a “neutral” rating to an “underperform” rating in a research note on Monday, May 13th. Morgan Stanley cut their target price on shares of Duke Energy from $99.00 to $92.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, KeyCorp initiated coverage on shares of Duke Energy in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Duke Energy has an average rating of “Hold” and a consensus target price of $90.50.
Duke Energy Profile
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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