Cornerstone Financial Partners LLC reduced its position in shares of Duke Energy Corporation (NYSE:DUK) by 6.0% during the second quarter, Holdings Channel reports. The institutional investor owned 8,668 shares of the utilities provider’s stock after selling 551 shares during the period. Cornerstone Financial Partners LLC’s holdings in Duke Energy Corporation were worth $725,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in Duke Energy Corporation by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 2,815 shares of the utilities provider’s stock worth $219,000 after buying an additional 180 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in Duke Energy Corporation by 39.1% in the first quarter. Carroll Financial Associates Inc. now owns 127,256 shares of the utilities provider’s stock worth $10,436,000 after buying an additional 35,741 shares in the last quarter. Murphy Capital Management Inc. boosted its position in Duke Energy Corporation by 0.6% in the first quarter. Murphy Capital Management Inc. now owns 37,163 shares of the utilities provider’s stock worth $3,047,000 after buying an additional 216 shares in the last quarter. E&G Advisors LP acquired a new position in Duke Energy Corporation during the first quarter worth approximately $230,000. Finally, Bank of Montreal Can boosted its position in Duke Energy Corporation by 7.6% in the first quarter. Bank of Montreal Can now owns 1,094,462 shares of the utilities provider’s stock worth $89,756,000 after buying an additional 77,201 shares in the last quarter. Hedge funds and other institutional investors own 55.60% of the company’s stock.
Duke Energy Corporation (NYSE:DUK) traded up 0.19% during mid-day trading on Thursday, hitting $86.36. The stock had a trading volume of 757,322 shares. The company has a market cap of $60.45 billion, a price-to-earnings ratio of 25.58 and a beta of 0.24. The company has a 50 day moving average price of $84.80 and a 200-day moving average price of $82.76. Duke Energy Corporation has a one year low of $72.34 and a one year high of $87.75.
Duke Energy Corporation (NYSE:DUK) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.76 billion. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. Equities analysts expect that Duke Energy Corporation will post $4.60 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 18th will be issued a dividend of $0.89 per share. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $3.56 annualized dividend and a dividend yield of 4.13%. Duke Energy Corporation’s payout ratio is presently 101.48%.
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A number of research analysts recently commented on DUK shares. Barclays PLC reiterated an “equal weight” rating and issued a $88.00 price objective (up from $82.00) on shares of Duke Energy Corporation in a report 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 reiterated a “hold” rating and issued a $81.00 price objective 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) raised Duke Energy Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $82.00 to $85.00 in a research report on Monday, June 26th. Four equities research 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’s stock. The company presently has a consensus rating of “Hold” and an average target price of $82.58.
In related news, Director John H. Forsgren sold 2,190 shares of Duke Energy Corporation stock in a transaction on Friday, May 12th. The shares were sold at an average price of $82.86, for a total transaction of $181,463.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director E Marie Mckee sold 1,937 shares of Duke Energy Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total transaction of $165,206.73. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.
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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