SNS Financial Group LLC Cuts Position in Duke Energy Corporation (DUK)

SNS Financial Group LLC reduced its stake in Duke Energy Corporation (NYSE:DUK) by 32.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,507 shares of the utilities provider’s stock after selling 1,665 shares during the period. SNS Financial Group LLC’s holdings in Duke Energy Corporation were worth $288,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Osborn Williams & Donohoe LLC increased its position in Duke Energy Corporation by 3.4% in the first quarter. Osborn Williams & Donohoe LLC now owns 3,043 shares of the utilities provider’s stock valued at $250,000 after buying an additional 100 shares during the period. Stock Yards Bank & Trust Co. increased its position in Duke Energy Corporation by 1.8% in the first quarter. Stock Yards Bank & Trust Co. now owns 19,487 shares of the utilities provider’s stock valued at $1,598,000 after buying an additional 348 shares during the period. Forte Capital LLC ADV increased its position in Duke Energy Corporation by 8.4% in the first quarter. Forte Capital LLC ADV now owns 6,338 shares of the utilities provider’s stock valued at $520,000 after buying an additional 493 shares during the period. Sheets Smith Wealth Management increased its position in Duke Energy Corporation by 0.8% in the first quarter. Sheets Smith Wealth Management now owns 12,175 shares of the utilities provider’s stock valued at $998,000 after buying an additional 100 shares during the period. Finally, Gulf International Bank UK Ltd increased its position in Duke Energy Corporation by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 213,958 shares of the utilities provider’s stock valued at $17,546,000 after buying an additional 4,650 shares during the period. 55.41% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Corporation (NYSE:DUK) opened at 86.38 on Friday. The company 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 one year low of $72.34 and a one year high of $87.75.

Duke Energy Corporation (NYSE:DUK) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. Duke Energy Corporation’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. On average, equities analysts expect that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be given a $0.89 dividend. This is an increase from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, August 16th. Duke Energy Corporation’s payout ratio is currently 105.64%.

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DUK has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price target on shares of Duke Energy Corporation in a research note on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) raised shares of Duke Energy Corporation from a “neutral” rating to a “buy” rating and upped their price target for the company from $82.00 to $85.00 in a research note on Monday, June 26th. BidaskClub cut shares of Duke Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Morgan Stanley reiterated an “equal weight” rating and set a $87.00 price objective (down previously from $91.00) on shares of Duke Energy Corporation in a research report on Monday, July 10th. Finally, Zacks Investment Research cut shares of Duke Energy Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $82.71.

In other news, EVP Douglas F. Esamann sold 5,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $86.22, for a total transaction of $431,100.00. Following the completion of the transaction, the executive vice president now directly owns 50,316 shares of the company’s stock, valued at $4,338,245.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director E Marie Mckee sold 1,937 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total value of $165,206.73. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Duke Energy Corporation Company Profile

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.

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

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