Energy Income Partners LLC grew its position in Duke Energy Corp (NYSE:DUK) by 245.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 357,917 shares of the utilities provider’s stock after acquiring an additional 254,186 shares during the period. Energy Income Partners LLC’s holdings in Duke Energy were worth $31,583,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Thor Advisors LLC bought a new position in Duke Energy during the 1st quarter worth $30,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Duke Energy in the 2nd quarter worth about $34,000. Larson Financial Group LLC raised its position in shares of Duke Energy by 65.5% in the 2nd quarter. Larson Financial Group LLC now owns 422 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 167 shares in the last quarter. Glassman Wealth Services raised its position in shares of Duke Energy by 35.2% in the 1st quarter. Glassman Wealth Services now owns 449 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 117 shares in the last quarter. Finally, Tarbox Family Office Inc. raised its position in shares of Duke Energy by 46.5% in the 2nd quarter. Tarbox Family Office Inc. now owns 457 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 145 shares in the last quarter.
Several research analysts have recently weighed in on the company. Zacks Investment Research lowered Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 price objective for the company. in a research report on Wednesday, June 26th. SunTrust Banks set a $96.00 target price on Duke Energy and gave the company a “hold” rating in a research note on Tuesday, September 3rd. KeyCorp initiated coverage on Duke Energy in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Citigroup reduced their target price on Duke Energy from $91.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, Morgan Stanley reduced their target price on Duke Energy from $99.00 to $92.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $92.44.
Duke Energy (NYSE:DUK) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.14. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy had a return on equity of 8.02% and a net margin of 13.23%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.93 EPS. Analysts expect that Duke Energy Corp will post 4.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were paid a dividend of $0.945 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.78 dividend on an annualized basis and a yield of 3.99%. This is an increase from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s payout ratio is 80.08%.
In other Duke Energy news, EVP Lloyd M. Yates sold 20,000 shares of Duke Energy stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $90.81, for a total transaction of $1,816,200.00. Following the completion of the transaction, the executive vice president now owns 41,154 shares in the company, valued at approximately $3,737,194.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Douglas F. Esamann sold 4,430 shares of Duke Energy stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $92.44, for a total value of $409,509.20. Following the transaction, the executive vice president now owns 64,722 shares of the company’s stock, valued at approximately $5,982,901.68. The disclosure for this sale can be found here. Insiders have sold a total of 26,362 shares of company stock valued at $2,401,576 in the last quarter. Company insiders own 0.09% of the company’s stock.
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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