Westpac Banking Corp reduced its position in shares of Duke Energy Corporation (NYSE:DUK) by 48.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,245 shares of the utilities provider’s stock after selling 54,468 shares during the period. Westpac Banking Corp’s holdings in Duke Energy Corporation were worth $4,699,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC increased its position in shares of Duke Energy Corporation by 5.0% in the fourth quarter. Teachers Advisors LLC now owns 1,269,801 shares of the utilities provider’s stock valued at $98,562,000 after buying an additional 60,928 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Duke Energy Corporation during the fourth quarter valued at approximately $3,880,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Duke Energy Corporation during the fourth quarter valued at approximately $1,731,000. Searle & CO. acquired a new position in shares of Duke Energy Corporation during the fourth quarter valued at approximately $579,000. Finally, Philadelphia Trust Co. increased its position in shares of Duke Energy Corporation by 1.5% in the fourth quarter. Philadelphia Trust Co. now owns 121,210 shares of the utilities provider’s stock valued at $9,408,000 after buying an additional 1,750 shares during the last quarter. 55.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Duke Energy Corporation (NYSE DUK) traded up 0.16% on Wednesday, reaching $86.14. The company’s stock had a trading volume of 272,769 shares. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $87.75. The company has a market cap of $60.29 billion, a price-to-earnings ratio of 25.52 and a beta of 0.24. The stock has a 50-day moving average of $84.79 and a 200 day moving average of $83.06.
Duke Energy Corporation (NYSE:DUK) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that Duke Energy Corporation will post $4.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, August 18th will be paid a $0.89 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $3.56 annualized dividend and a dividend yield of 4.10%. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. Duke Energy Corporation’s payout ratio is currently 101.48%.
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Several research analysts have commented on DUK shares. Barclays PLC reissued an “equal weight” rating and set a $88.00 target price (up previously from $82.00) on shares of Duke Energy Corporation in a research note on Sunday, April 23rd. Zacks Investment Research cut Duke Energy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. BMO Capital Markets restated a “hold” rating and set a $81.00 price target on shares of Duke Energy Corporation in a report on Friday, April 28th. BidaskClub cut Duke Energy Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Goldman Sachs Group, Inc. (The) upgraded Duke Energy Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $82.00 to $85.00 in a report on Monday, June 26th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $82.71.
In related news, EVP Douglas F. Esamann sold 5,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 50,316 shares in the company, valued at $4,338,245.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director E Marie Mckee sold 1,937 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were 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. 0.07% of the stock is owned by insiders.
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.
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