Strategic Wealth Partners Ltd. cut its position in shares of Duke Energy Corp (NYSE:DUK) by 19.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,071 shares of the utilities provider’s stock after selling 507 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Duke Energy were worth $182,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Payden & Rygel lifted its stake in Duke Energy by 3.9% in the second quarter. Payden & Rygel now owns 178,000 shares of the utilities provider’s stock valued at $15,707,000 after buying an additional 6,600 shares during the last quarter. Cynosure Management LLC bought a new stake in Duke Energy in the second quarter valued at $344,000. Good Life Advisors LLC lifted its stake in Duke Energy by 5.3% in the second quarter. Good Life Advisors LLC now owns 16,693 shares of the utilities provider’s stock valued at $1,473,000 after buying an additional 839 shares during the last quarter. Western Wealth Management LLC lifted its stake in Duke Energy by 3,522.7% in the second quarter. Western Wealth Management LLC now owns 198,054 shares of the utilities provider’s stock valued at $17,484,000 after buying an additional 192,587 shares during the last quarter. Finally, Associated Banc Corp lifted its stake in Duke Energy by 14.5% in the second quarter. Associated Banc Corp now owns 3,772 shares of the utilities provider’s stock valued at $333,000 after buying an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 60.40% of the company’s stock.
In related news, SVP Dwight L. Jacobs sold 1,700 shares of Duke Energy stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.05, for a total transaction of $154,785.00. Following the sale, the senior vice president now directly owns 4,891 shares in the company, valued at $445,325.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.
Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.14. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. As a group, analysts expect that Duke Energy Corp will post 4.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a dividend of $0.945 per share. This is a boost from Duke Energy’s previous quarterly dividend of $0.93. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, August 15th. Duke Energy’s payout ratio is currently 80.08%.
A number of research firms have issued reports on DUK. Zacks Investment Research cut Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 target price on the stock. in a research note on Wednesday, June 26th. JPMorgan Chase & Co. set a $90.00 target price on Duke Energy and gave the company a “hold” rating in a research note on Monday, May 20th. Morgan Stanley cut their target price on Duke Energy from $99.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Bank of America cut Duke Energy from a “neutral” rating to an “underperform” rating in a research note on Monday, May 13th. Finally, ValuEngine cut Duke Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $91.14.
About Duke Energy
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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