Barings LLC reduced its holdings in Duke Energy Corp (NYSE:DUK) by 35.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,790 shares of the utilities provider’s stock after selling 8,000 shares during the quarter. Barings LLC’s holdings in Duke Energy were worth $1,241,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its holdings in Duke Energy by 2,866.0% in the first quarter. BlackRock Inc. now owns 42,708,918 shares of the utilities provider’s stock worth $3,502,557,000 after acquiring an additional 41,268,968 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Duke Energy by 4.1% in the first quarter. Vanguard Group Inc. now owns 48,471,025 shares of the utilities provider’s stock worth $3,975,109,000 after purchasing an additional 1,918,598 shares during the last quarter. Morgan Stanley raised its stake in shares of Duke Energy by 25.1% in the first quarter. Morgan Stanley now owns 4,909,214 shares of the utilities provider’s stock worth $402,605,000 after purchasing an additional 986,456 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Duke Energy by 575.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 955,632 shares of the utilities provider’s stock worth $81,984,000 after purchasing an additional 814,210 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Duke Energy by 16.6% during the first quarter. Epoch Investment Partners Inc. now owns 5,225,916 shares of the utilities provider’s stock valued at $428,577,000 after acquiring an additional 743,146 shares during the last quarter. Hedge funds and other institutional investors own 57.23% of the company’s stock.
A number of analysts recently commented on DUK shares. Citigroup upped their price objective on Duke Energy from $74.00 to $77.00 and gave the company a “sell” rating in a research report on Tuesday, October 17th. ValuEngine lowered Duke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Goldman Sachs Group lowered Duke Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $80.11 to $88.00 in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Duke Energy in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $87.00 price target on shares of Duke Energy in a research note on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $87.48.
Duke Energy (NYSE:DUK) last announced its earnings results on Friday, November 3rd. The utilities provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.03. The business had revenue of $6.48 billion for the quarter, compared to analysts’ expectations of $7.43 billion. Duke Energy had a return on equity of 7.54% and a net margin of 9.09%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS. equities analysts anticipate that Duke Energy Corp will post 4.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.51%. Duke Energy’s payout ratio is 117.49%.
In other news, EVP Lloyd M. Yates sold 5,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $89.95, for a total value of $449,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by company insiders.
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Duke Energy Profile
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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