Capital Research Global Investors reduced its holdings in shares of Duke Energy Co. (NYSE:DUK – Get Rating) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,744,387 shares of the utilities provider’s stock after selling 199,863 shares during the quarter. Capital Research Global Investors owned 0.88% of Duke Energy worth $753,078,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Duke Energy during the first quarter worth $33,000. Carl Stuart Investment Advisor Inc. acquired a new position in shares of Duke Energy during the first quarter worth $33,000. Quent Capital LLC acquired a new position in shares of Duke Energy during the fourth quarter worth $35,000. San Luis Wealth Advisors LLC acquired a new position in shares of Duke Energy during the first quarter worth $35,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Duke Energy during the fourth quarter worth $40,000. 63.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Duke Energy
In other news, COO Dhiaa M. Jamil sold 700 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $109.93, for a total transaction of $76,951.00. Following the completion of the transaction, the chief operating officer now owns 58,957 shares in the company, valued at $6,481,143.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Steven K. Young sold 415 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $107.75, for a total value of $44,716.25. Following the completion of the transaction, the chief financial officer now owns 114,072 shares in the company, valued at approximately $12,291,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Dhiaa M. Jamil sold 700 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $109.93, for a total transaction of $76,951.00. Following the completion of the transaction, the chief operating officer now owns 58,957 shares of the company’s stock, valued at approximately $6,481,143.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,819 shares of company stock worth $856,533. Insiders own 0.10% of the company’s stock.
Duke Energy Stock Up 1.0 %
Duke Energy (NYSE:DUK – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $5.79 billion. Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 EPS. As a group, equities analysts expect that Duke Energy Co. will post 5.45 earnings per share for the current year.
Duke Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 12th will be given a dividend of $1.005 per share. The ex-dividend date is Thursday, August 11th. This represents a $4.02 annualized dividend and a dividend yield of 3.68%. This is a positive change from Duke Energy’s previous quarterly dividend of $0.99. Duke Energy’s dividend payout ratio is currently 81.38%.
Wall Street Analysts Forecast Growth
DUK has been the topic of several recent analyst reports. Credit Suisse Group cut shares of Duke Energy from an “outperform” rating to a “neutral” rating and upped their price target for the company from $112.00 to $114.00 in a report on Friday, August 5th. Morgan Stanley upped their price target on shares of Duke Energy from $114.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, August 23rd. Barclays cut their price target on shares of Duke Energy from $119.00 to $110.00 in a report on Monday, July 18th. KeyCorp cut their price target on shares of Duke Energy from $121.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Finally, UBS Group cut shares of Duke Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $122.00 to $112.00 in a report on Thursday, June 30th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Duke Energy currently has an average rating of “Hold” and a consensus target price of $113.10.
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; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.
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