Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in shares of Duke Energy Corp (NYSE:DUK) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,722 shares of the utilities provider’s stock after selling 1,408 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Duke Energy were worth $12,190,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Shell Asset Management Co. grew its holdings in Duke Energy by 1.9% during the 1st quarter. Shell Asset Management Co. now owns 171,176 shares of the utilities provider’s stock valued at $13,845,000 after purchasing an additional 3,117 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in Duke Energy by 5.8% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 20,473 shares of the utilities provider’s stock valued at $1,656,000 after buying an additional 1,127 shares during the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of Duke Energy by 9.5% during the first quarter. Bedel Financial Consulting Inc. now owns 4,482 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 390 shares in the last quarter. National Asset Management Inc. increased its position in shares of Duke Energy by 81.1% during the first quarter. National Asset Management Inc. now owns 27,873 shares of the utilities provider’s stock worth $2,255,000 after acquiring an additional 12,486 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Duke Energy by 34.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 37,999 shares of the utilities provider’s stock worth $3,073,000 after acquiring an additional 9,680 shares in the last quarter. Institutional investors and hedge funds own 64.29% of the company’s stock.
Several equities research analysts have issued reports on the company. UBS Group dropped their price objective on Duke Energy from $113.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Credit Suisse Group raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $96.00 to $108.00 in a report on Tuesday, February 18th. Bank of America reissued a “neutral” rating and set a $83.00 price objective (down from $93.00) on shares of Duke Energy in a report on Wednesday, May 13th. Morgan Stanley cut their target price on shares of Duke Energy from $96.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, May 15th. Finally, Wells Fargo & Co decreased their price target on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Duke Energy currently has an average rating of “Hold” and an average price target of $93.29.
Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, May 12th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.05). The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6.24 billion. Duke Energy had a net margin of 15.17% and a return on equity of 8.13%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. On average, equities research analysts forecast that Duke Energy Corp will post 5.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, May 14th. Duke Energy’s dividend payout ratio (DPR) is 74.70%.
In related news, SVP Harry K. Sideris sold 1,285 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $80.42, for a total value of $103,339.70. Following the completion of the transaction, the senior vice president now directly owns 5,396 shares of the company’s stock, valued at approximately $433,946.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lynn J. Good sold 16,400 shares of Duke Energy stock in a transaction on Friday, February 28th. The shares were sold at an average price of $91.86, for a total value of $1,506,504.00. Following the sale, the chief executive officer now directly owns 302,325 shares in the company, valued at approximately $27,771,574.50. The disclosure for this sale can be found here. Insiders sold 18,213 shares of company stock worth $1,652,221 in the last 90 days. 0.11% of the stock is owned by company insiders.
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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