Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Duke Energy Co. (NYSE:DUK) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,496 shares of the utilities provider’s stock after acquiring an additional 636 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Duke Energy were worth $2,221,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. bought a new position in Duke Energy in the 2nd quarter valued at $29,000. Atlas Private Wealth Advisors boosted its position in Duke Energy by 47.2% in the 2nd quarter. Atlas Private Wealth Advisors now owns 315 shares of the utilities provider’s stock valued at $31,000 after buying an additional 101 shares during the last quarter. Regency Capital Management Inc. DE bought a new position in Duke Energy in the 1st quarter valued at $39,000. Robbins Farley LLC bought a new position in Duke Energy in the 1st quarter valued at $47,000. Finally, USA Financial Portformulas Corp bought a new position in shares of Duke Energy in the 2nd quarter worth $54,000. Institutional investors and hedge funds own 62.63% of the company’s stock.
In other news, EVP Julia S. Janson sold 15,465 shares of the firm’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $105.00, for a total value of $1,623,825.00. Following the completion of the transaction, the executive vice president now owns 35,032 shares in the company, valued at approximately $3,678,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.
Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, August 5th. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.03. Duke Energy had a return on equity of 8.73% and a net margin of 12.28%. The firm had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.75 billion. Analysts forecast that Duke Energy Co. will post 5.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 16th. Stockholders of record on Friday, August 13th were issued a $0.985 dividend. This is a boost from Duke Energy’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $3.94 annualized dividend and a dividend yield of 3.98%. Duke Energy’s dividend payout ratio (DPR) is presently 76.95%.
Several research firms have recently issued reports on DUK. Argus upgraded Duke Energy from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Friday, June 25th. Vertical Research lowered Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Morgan Stanley reduced their price target on Duke Energy from $112.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Friday, September 17th. KeyCorp raised their price target on Duke Energy from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 20th. Finally, Zacks Investment Research lowered Duke Energy from a “buy” rating to a “hold” rating and set a $111.00 price target on the stock. in a research report on Tuesday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.46.
About Duke Energy
Duke Energy Corp. engages in the 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 in Duke Energy’s regulated electric utilities in the Carolinas, Florida and the Midwest.
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