Alpha Cubed Investments LLC decreased its position in shares of Duke Energy Corp (NYSE:DUK) by 10.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,617 shares of the utilities provider’s stock after selling 422 shares during the period. Alpha Cubed Investments LLC’s holdings in Duke Energy were worth $289,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of DUK. Financial Architects Inc lifted its holdings in Duke Energy by 0.9% during the fourth quarter. Financial Architects Inc now owns 12,397 shares of the utilities provider’s stock worth $1,131,000 after buying an additional 112 shares during the period. Trust Co. of Toledo NA OH lifted its holdings in Duke Energy by 0.6% during the first quarter. Trust Co. of Toledo NA OH now owns 20,928 shares of the utilities provider’s stock worth $1,693,000 after buying an additional 119 shares during the period. Lighthouse Financial Advisors Inc. lifted its holdings in Duke Energy by 3.0% during the first quarter. Lighthouse Financial Advisors Inc. now owns 4,294 shares of the utilities provider’s stock worth $340,000 after buying an additional 124 shares during the period. Retirement Network lifted its holdings in Duke Energy by 24.2% during the first quarter. Retirement Network now owns 667 shares of the utilities provider’s stock worth $54,000 after buying an additional 130 shares during the period. Finally, Heron Financial Group LLC lifted its holdings in Duke Energy by 2.0% during the first quarter. Heron Financial Group LLC now owns 6,741 shares of the utilities provider’s stock worth $610,000 after buying an additional 131 shares during the period. Hedge funds and other institutional investors own 64.03% of the company’s stock.
DUK has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on Duke Energy from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 17th. Bank of America reaffirmed a “neutral” rating and set a $83.00 price target (down from $93.00) on shares of Duke Energy in a research report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price target on Duke Energy from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Wells Fargo & Co reduced their price target on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 20th. Finally, UBS Group reduced their price target on Duke Energy from $113.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $93.43.
Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, May 12th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.05). Duke Energy had a net margin of 15.17% and a return on equity of 8.13%. The firm had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6.24 billion. During the same period in the previous year, the company earned $1.24 earnings per share. Duke Energy’s revenue was down 3.5% on a year-over-year basis. Research analysts expect that Duke Energy Corp will post 5.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be given a dividend of $0.965 per share. This is an increase from Duke Energy’s previous quarterly dividend of $0.95. This represents a $3.86 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, August 13th. Duke Energy’s dividend payout ratio (DPR) is currently 74.70%.
In other Duke Energy news, SVP Harry K. Sideris sold 1,285 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $80.42, for a total transaction of $103,339.70. Following the sale, the senior vice president now directly owns 5,396 shares of the company’s stock, valued at approximately $433,946.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dwight L. Jacobs sold 1,500 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $84.11, for a total value of $126,165.00. Following the sale, the senior vice president now directly owns 5,191 shares in the company, valued at $436,615.01. The disclosure for this sale can be found here. Insiders have sold a total of 3,549 shares of company stock worth $293,126 over the last ninety days. 0.11% of the stock is owned by insiders.
Duke Energy Profile
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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