Duke Energy Corp (DUK) Holdings Cut by Zimmer Partners LP

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Zimmer Partners LP cut its holdings in Duke Energy Corp (NYSE:DUK) by 74.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 920,743 shares of the utilities provider’s stock after selling 2,649,573 shares during the quarter. Duke Energy accounts for 1.1% of Zimmer Partners LP’s investment portfolio, making the stock its 24th largest holding. Zimmer Partners LP’s holdings in Duke Energy were worth $79,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley lifted its stake in Duke Energy by 13.8% in the third quarter. Morgan Stanley now owns 3,792,774 shares of the utilities provider’s stock valued at $303,498,000 after buying an additional 460,092 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Duke Energy by 69.4% during the fourth quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 430 shares in the last quarter. Ffcm LLC increased its holdings in shares of Duke Energy by 12.8% during the fourth quarter. Ffcm LLC now owns 34,758 shares of the utilities provider’s stock valued at $3,000,000 after acquiring an additional 3,947 shares in the last quarter. Union Bankshares Corp increased its holdings in shares of Duke Energy by 43.4% during the fourth quarter. Union Bankshares Corp now owns 8,386 shares of the utilities provider’s stock valued at $724,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Putnam Investments LLC increased its holdings in shares of Duke Energy by 0.9% during the third quarter. Putnam Investments LLC now owns 259,153 shares of the utilities provider’s stock valued at $20,737,000 after acquiring an additional 2,344 shares in the last quarter. 60.70% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy stock traded down $0.06 during trading on Wednesday, hitting $89.06. 56,561 shares of the company were exchanged, compared to its average volume of 3,745,252. Duke Energy Corp has a 52 week low of $71.96 and a 52 week high of $91.35. The company has a market capitalization of $64.79 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 3.62 and a beta of 0.06. The company has a current ratio of 0.65, a quick ratio of 0.44 and a debt-to-equity ratio of 1.17.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, February 14th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.05). Duke Energy had a return on equity of 7.80% and a net margin of 10.87%. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the company posted $0.94 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Duke Energy Corp will post 4.97 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, February 15th were issued a dividend of $0.9275 per share. The ex-dividend date was Thursday, February 14th. This represents a $3.71 annualized dividend and a yield of 4.17%. Duke Energy’s dividend payout ratio (DPR) is currently 78.60%.

In other Duke Energy news, COO Dhiaa M. Jamil sold 750 shares of the stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $89.75, for a total transaction of $67,312.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa H. Anderson sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $87.49, for a total transaction of $174,980.00. Following the completion of the transaction, the executive vice president now owns 18,198 shares in the company, valued at approximately $1,592,143.02. The disclosure for this sale can be found here. Insiders have sold 21,250 shares of company stock valued at $1,900,878 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

DUK has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Duke Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, February 12th. Zacks Investment Research downgraded Duke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Bank of America downgraded Duke Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $88.00 to $87.00 in a report on Wednesday, January 9th. They noted that the move was a valuation call. Credit Suisse Group downgraded Duke Energy from an “outperform” rating to a “neutral” rating in a report on Friday, February 15th. Finally, ValuEngine upgraded Duke Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $85.08.

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About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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