Maple Brown Abbott Ltd lifted its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 37.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 659,883 shares of the utilities provider's stock after purchasing an additional 181,143 shares during the quarter. Duke Energy accounts for 5.5% of Maple Brown Abbott Ltd's portfolio, making the stock its 10th largest position. Maple Brown Abbott Ltd owned about 0.08% of Duke Energy worth $80,492,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vermillion Wealth Management Inc. purchased a new stake in shares of Duke Energy in the fourth quarter worth approximately $27,000. Wayfinding Financial LLC bought a new position in Duke Energy during the first quarter valued at approximately $27,000. N.E.W. Advisory Services LLC bought a new position in Duke Energy during the first quarter valued at approximately $27,000. Mattson Financial Services LLC bought a new position in Duke Energy during the fourth quarter valued at approximately $28,000. Finally, Montag & Caldwell LLC bought a new position in Duke Energy during the fourth quarter valued at approximately $36,000. 65.31% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Duke Energy
In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the sale, the executive vice president owned 46,422 shares in the company, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.
Duke Energy Stock Performance
DUK traded down $2.00 during trading on Friday, reaching $122.26. 4,023,961 shares of the company's stock were exchanged, compared to its average volume of 3,607,245. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The business has a 50 day moving average price of $118.93 and a 200 day moving average price of $117.88. The company has a market capitalization of $95.07 billion, a P/E ratio of 19.88, a PEG ratio of 3.03 and a beta of 0.36.
Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%. The business had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The firm's quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.
Duke Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a $1.065 dividend. The ex-dividend date is Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio is presently 67.97%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on shares of Duke Energy from $122.00 to $127.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Citigroup lifted their price target on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. UBS Group reissued a "neutral" rating and issued a $127.00 price target (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Finally, Morgan Stanley dropped their price target on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Duke Energy currently has an average rating of "Moderate Buy" and an average target price of $129.80.
View Our Latest Stock Report on Duke Energy
About Duke Energy
(
Free Report)
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.
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