United Services Automobile Association Has $2.28 Million Stock Position in Duke Energy Co. (NYSE:DUK)

United Services Automobile Association cut its position in shares of Duke Energy Co. (NYSE:DUK) by 6.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 22,743 shares of the utilities provider’s stock after selling 1,678 shares during the period. United Services Automobile Association’s holdings in Duke Energy were worth $2,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle West Asset Management Inc. increased its holdings in Duke Energy by 2.1% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock valued at $444,000 after buying an additional 90 shares during the period. SeaCrest Wealth Management LLC raised its position in Duke Energy by 1.6% in the second quarter. SeaCrest Wealth Management LLC now owns 6,093 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 98 shares in the last quarter. Waddell & Associates LLC boosted its holdings in Duke Energy by 2.7% during the second quarter. Waddell & Associates LLC now owns 3,753 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 99 shares in the last quarter. Indiana Trust & Investment Management CO grew its stake in shares of Duke Energy by 4.9% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,147 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 100 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in shares of Duke Energy by 6.5% in the 2nd quarter. Sound Income Strategies LLC now owns 1,706 shares of the utilities provider’s stock worth $171,000 after buying an additional 104 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of DUK opened at $117.16 on Tuesday. The stock has a market cap of $90.42 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.46. The stock’s 50-day moving average price is $109.87 and its two-hundred day moving average price is $102.41. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. Duke Energy Co. has a 1 year low of $83.06 and a 1 year high of $118.11.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.16. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. On average, equities analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be given a $1.045 dividend. The ex-dividend date is Friday, August 16th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a dividend yield of 3.57%. Duke Energy’s payout ratio is currently 105.03%.

Insider Buying and Selling

In other news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DUK shares. The Goldman Sachs Group upped their price target on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Barclays lifted their price target on shares of Duke Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. BMO Capital Markets boosted their target price on Duke Energy from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised their target price on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, KeyCorp boosted their price objective on shares of Duke Energy from $114.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.92.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.