Magellan Asset Management Ltd Grows Stake in Duke Energy Corporation $DUK

Magellan Asset Management Ltd increased its holdings in Duke Energy Corporation (NYSE:DUK) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,122 shares of the utilities provider’s stock after purchasing an additional 26,400 shares during the period. Magellan Asset Management Ltd’s holdings in Duke Energy were worth $32,818,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DUK. Activest Wealth Management increased its position in Duke Energy by 98.1% during the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Duke Energy during the 1st quarter worth about $27,000. Legacy Investment Solutions LLC bought a new position in Duke Energy during the 2nd quarter valued at about $28,000. Mascoma Wealth Management LLC raised its position in Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 87 shares during the period. Finally, Financial Network Wealth Advisors LLC lifted its stake in Duke Energy by 360.0% in the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 198 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DUK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Duke Energy in a report on Wednesday, October 8th. Jefferies Financial Group increased their target price on Duke Energy from $134.00 to $138.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Wells Fargo & Company raised shares of Duke Energy to a “hold” rating in a research note on Tuesday, October 28th. Evercore ISI started coverage on shares of Duke Energy in a report on Monday, October 6th. They issued an “outperform” rating and a $143.00 price target on the stock. Finally, Cowen began coverage on shares of Duke Energy in a report on Wednesday, October 15th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.00.

Insiders Place Their Bets

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of the transaction, the executive vice president owned 46,422 shares in the company, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the sale, the senior vice president directly owned 19,608 shares of the company’s stock, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

Duke Energy Trading Down 0.3%

Shares of DUK stock opened at $123.64 on Friday. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $130.03. The company has a 50 day moving average price of $123.97 and a 200 day moving average price of $120.84. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The stock has a market capitalization of $96.15 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 3.05 and a beta of 0.45.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the business posted $1.62 earnings per share. Duke Energy’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, November 14th. Duke Energy’s payout ratio is 69.27%.

About Duke Energy

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.