Schafer Cullen Capital Management Inc. reduced its stake in shares of Duke Energy Corporation (NYSE:DUK) by 0.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 31,351 shares of the utilities provider’s stock after selling 270 shares during the period. Schafer Cullen Capital Management Inc.’s holdings in Duke Energy Corporation were worth $2,571,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in DUK. Truepoint Inc. boosted its position in Duke Energy Corporation by 0.5% in the first quarter. Truepoint Inc. now owns 2,792 shares of the utilities provider’s stock valued at $229,000 after buying an additional 13 shares during the period. Accredited Investors Inc. boosted its position in Duke Energy Corporation by 0.7% in the first quarter. Accredited Investors Inc. now owns 2,787 shares of the utilities provider’s stock valued at $229,000 after buying an additional 19 shares during the period. Hayek Kallen Investment Management boosted its position in Duke Energy Corporation by 0.5% in the first quarter. Hayek Kallen Investment Management now owns 3,958 shares of the utilities provider’s stock valued at $325,000 after buying an additional 19 shares during the period. MCF Advisors LLC boosted its position in Duke Energy Corporation by 0.4% in the first quarter. MCF Advisors LLC now owns 4,499 shares of the utilities provider’s stock valued at $369,000 after buying an additional 20 shares during the period. Finally, Shoker Investment Counsel Inc. boosted its position in Duke Energy Corporation by 0.5% in the first quarter. Shoker Investment Counsel Inc. now owns 4,484 shares of the utilities provider’s stock valued at $367,000 after buying an additional 21 shares during the period. 55.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of Duke Energy Corporation (NYSE:DUK) traded up 0.59% on Friday, hitting $86.38. 2,853,827 shares of the company were exchanged. The stock has a market capitalization of $60.46 billion, a PE ratio of 25.59 and a beta of 0.24. The firm’s 50-day moving average is $84.90 and its 200-day moving average is $83.17. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $87.75.
Duke Energy Corporation (NYSE:DUK) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the company earned $1.07 EPS. Duke Energy Corporation’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that Duke Energy Corporation will post $4.60 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 18th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend 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 105.64%.
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Several research firms have recently weighed in on DUK. Morgan Stanley increased their price target on Duke Energy Corporation from $87.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. BMO Capital Markets reissued a “hold” rating and set a $87.00 price target (up from $85.00) on shares of Duke Energy Corporation in a report on Friday, August 4th. Deutsche Bank AG restated a “hold” rating and issued a $84.00 price objective (up from $83.00) on shares of Duke Energy Corporation in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Tuesday, July 11th. Finally, BidaskClub lowered Duke Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Duke Energy Corporation presently has an average rating of “Hold” and an average target price of $82.71.
In related news, EVP Douglas F. Esamann sold 5,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $86.22, for a total transaction of $431,100.00. Following the completion of the sale, the executive vice president now owns 50,316 shares of the company’s stock, valued at approximately $4,338,245.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director E Marie Mckee sold 1,937 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $85.29, for a total transaction of $165,206.73. The disclosure for this sale can be found here. 0.07% of the stock is currently 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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