Crawford Investment Counsel Inc. boosted its stake in shares of Duke Energy Co. (NYSE:DUK – Get Rating) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 203,387 shares of the utilities provider’s stock after buying an additional 9,362 shares during the period. Crawford Investment Counsel Inc.’s holdings in Duke Energy were worth $22,710,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Duke Energy in the 1st quarter valued at $33,000. Carl Stuart Investment Advisor Inc. acquired a new position in shares of Duke Energy in the 1st quarter valued at $33,000. Quent Capital LLC acquired a new position in shares of Duke Energy in the 4th quarter valued at $35,000. San Luis Wealth Advisors LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at $35,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Duke Energy in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 63.76% of the company’s stock.
Insider Buying and Selling
In related news, COO Dhiaa M. Jamil sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $109.93, for a total transaction of $76,951.00. Following the transaction, the chief operating officer now owns 58,957 shares in the company, valued at approximately $6,481,143.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Duke Energy news, EVP Kodwo Ghartey-Tagoe sold 4,700 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $109.67, for a total transaction of $515,449.00. Following the completion of the sale, the executive vice president now directly owns 14,002 shares of the company’s stock, valued at approximately $1,535,599.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Dhiaa M. Jamil sold 700 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $109.93, for a total value of $76,951.00. Following the sale, the chief operating officer now directly owns 58,957 shares of the company’s stock, valued at $6,481,143.01. The disclosure for this sale can be found here. Insiders have sold 7,819 shares of company stock worth $856,533 in the last quarter. 0.10% of the stock is owned by insiders.
Duke Energy Trading Up 0.6 %
Duke Energy (NYSE:DUK – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Duke Energy had a net margin of 14.50% and a return on equity of 8.42%. The business had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $5.79 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The company’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that Duke Energy Co. will post 5.45 EPS for the current fiscal year.
Duke Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 12th will be paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Thursday, August 11th. This is an increase from Duke Energy’s previous quarterly dividend of $0.99. Duke Energy’s dividend payout ratio (DPR) is currently 81.38%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on DUK. Barclays decreased their target price on Duke Energy from $119.00 to $110.00 in a research note on Monday, July 18th. Morgan Stanley increased their target price on Duke Energy from $114.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 23rd. KeyCorp decreased their target price on Duke Energy from $121.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. UBS Group lowered Duke Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $122.00 to $112.00 in a research note on Thursday, June 30th. Finally, Credit Suisse Group lowered Duke Energy from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $112.00 to $114.00 in a research note on Friday, August 5th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.10.
Duke Energy Company 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; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.
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