Allworth Financial LP lifted its holdings in shares of Duke Energy Co. (NYSE:DUK – Get Rating) by 105.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,492 shares of the utilities provider’s stock after buying an additional 7,424 shares during the period. Allworth Financial LP’s holdings in Duke Energy were worth $1,554,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Duke Energy by 2.7% in the first quarter. Vanguard Group Inc. now owns 68,521,533 shares of the utilities provider’s stock worth $7,651,115,000 after purchasing an additional 1,782,973 shares during the period. BlackRock Inc. lifted its position in Duke Energy by 0.6% in the fourth quarter. BlackRock Inc. now owns 53,412,420 shares of the utilities provider’s stock worth $5,602,963,000 after purchasing an additional 299,355 shares during the period. State Street Corp lifted its position in Duke Energy by 8.5% in the first quarter. State Street Corp now owns 42,715,057 shares of the utilities provider’s stock worth $4,769,563,000 after purchasing an additional 3,349,217 shares during the period. Wellington Management Group LLP lifted its position in Duke Energy by 6.4% in the first quarter. Wellington Management Group LLP now owns 34,876,522 shares of the utilities provider’s stock worth $3,894,312,000 after purchasing an additional 2,112,764 shares during the period. Finally, Royal Bank of Canada lifted its position in Duke Energy by 4.3% in the first quarter. Royal Bank of Canada now owns 7,647,858 shares of the utilities provider’s stock worth $853,961,000 after purchasing an additional 318,102 shares during the period. 63.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have weighed in on DUK shares. UBS Group downgraded Duke Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $122.00 to $112.00 in a research report on Thursday, June 30th. Barclays cut their price objective on Duke Energy from $119.00 to $110.00 in a research report on Monday, July 18th. Morgan Stanley cut their price objective on Duke Energy from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Thursday. Credit Suisse Group downgraded Duke Energy from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $112.00 to $114.00 in a research report on Friday, August 5th. Finally, KeyCorp cut their price objective on Duke Energy from $121.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Duke Energy presently has a consensus rating of “Hold” and an average target price of $112.90.
Insider Transactions at Duke Energy
Duke Energy Price Performance
Shares of NYSE:DUK opened at $104.68 on Friday. The company’s fifty day moving average is $108.48 and its two-hundred day moving average is $108.91. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 1.27. Duke Energy Co. has a 12-month low of $95.48 and a 12-month high of $116.33. The company has a market cap of $80.59 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 3.18 and a beta of 0.35.
Duke Energy (NYSE:DUK – Get Rating) last announced its earnings results on Thursday, August 4th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.04). Duke Energy had a net margin of 14.50% and a return on equity of 8.42%. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $5.79 billion. During the same period last year, the firm earned $1.15 earnings per share. Duke Energy’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts expect that Duke Energy Co. will post 5.45 earnings per share for the current fiscal year.
Duke Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 12th were paid a $1.005 dividend. The ex-dividend date was Thursday, August 11th. This is an increase from Duke Energy’s previous quarterly dividend of $0.99. This represents a $4.02 dividend on an annualized basis and a dividend yield of 3.84%. Duke Energy’s dividend payout ratio is 81.38%.
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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