State of Michigan Retirement System grew its position in shares of Duke Energy Corp (NYSE:DUK) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 187,670 shares of the utilities provider’s stock after purchasing an additional 20,519 shares during the quarter. State of Michigan Retirement System’s holdings in Duke Energy were worth $14,993,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH lifted its stake in Duke Energy by 0.6% in the first quarter. Trust Co. of Toledo NA OH now owns 20,928 shares of the utilities provider’s stock worth $1,693,000 after acquiring an additional 119 shares during the period. Lighthouse Financial Advisors Inc. raised its holdings in Duke Energy by 3.0% in the first quarter. Lighthouse Financial Advisors Inc. now owns 4,294 shares of the utilities provider’s stock worth $340,000 after purchasing an additional 124 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV raised its holdings in Duke Energy by 0.6% in the second quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 21,905 shares of the utilities provider’s stock worth $1,750,000 after purchasing an additional 127 shares in the last quarter. Retirement Network raised its holdings in Duke Energy by 24.2% in the first quarter. Retirement Network now owns 667 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 130 shares in the last quarter. Finally, Heron Financial Group LLC raised its holdings in Duke Energy by 2.0% in the first quarter. Heron Financial Group LLC now owns 6,741 shares of the utilities provider’s stock worth $610,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 64.03% of the company’s stock.
Shares of DUK traded up $0.17 during trading hours on Friday, hitting $84.74. The company had a trading volume of 3,292,473 shares, compared to its average volume of 3,430,067. The company has a market capitalization of $62.15 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 3.86 and a beta of 0.31. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.25. Duke Energy Corp has a one year low of $62.13 and a one year high of $103.79. The company’s fifty day moving average price is $82.48 and its two-hundred day moving average price is $87.23.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.965 per share. This is a positive change from Duke Energy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $3.86 annualized dividend and a dividend yield of 4.56%. Duke Energy’s payout ratio is 74.70%.
DUK has been the subject of a number of research reports. Bank of America reiterated a “neutral” rating and issued a $83.00 price objective (down previously from $93.00) on shares of Duke Energy in a report on Wednesday, May 13th. UBS Group reduced their price target on Duke Energy from $113.00 to $102.00 and set a “buy” rating for the company in a report on Friday, May 8th. Morgan Stanley raised their price target on Duke Energy from $89.00 to $96.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Seaport Global Securities started coverage on Duke Energy in a report on Tuesday, June 9th. They set a “neutral” rating for the company. Finally, Wells Fargo & Co reduced their price target on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $93.93.
In other Duke Energy news, SVP Harry K. Sideris sold 1,285 shares of the business’s stock in a transaction 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 in the company, valued at approximately $433,946.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dwight L. Jacobs sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $84.11, for a total value of $126,165.00. Following the completion of the transaction, the senior vice president now owns 5,191 shares of the company’s stock, valued at $436,615.01. The disclosure for this sale can be found here. Insiders have sold a total of 3,557 shares of company stock worth $292,856 in the last three months. Corporate insiders own 0.11% of the company’s stock.
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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