Duke Energy Corporation (NYSE:DUK) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Duke Energy by 2.1%, selling 5,200 shares during the first quarter, leading to a current holding of 246,300 shares valued at approximately $30 million.
• Research analysts have varied opinions on Duke Energy, with Citigroup raising its price target to $142.00 and a total of nine analysts giving the stock a "buy" rating, reflecting confidence in its performance.
• Duke Energy announced a quarterly dividend increase to $1.065, signifying strong financial health, with an anticipated annual yield of 3.4% for shareholders.

Forsta AP Fonden lessened its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,300 shares of the utilities provider's stock after selling 5,200 shares during the period. Forsta AP Fonden's holdings in Duke Energy were worth $30,041,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DUK. Vermillion Wealth Management Inc. bought a new stake in shares of Duke Energy in the 4th quarter worth approximately $27,000. Wayfinding Financial LLC bought a new position in Duke Energy in the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC bought a new position in Duke Energy in the 1st quarter valued at approximately $27,000. Mattson Financial Services LLC bought a new position in Duke Energy in the 4th quarter valued at approximately $28,000. Finally, Redwood Park Advisors LLC bought a new position in shares of Duke Energy during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Price Performance

Shares of Duke Energy stock traded down $0.57 during trading hours on Friday, reaching $125.36. The stock had a trading volume of 2,643,623 shares, compared to its average volume of 3,213,631. The stock's 50 day moving average is $118.24 and its 200 day moving average is $117.53. The firm has a market capitalization of $97.48 billion, a PE ratio of 20.38, a PEG ratio of 3.03 and a beta of 0.36. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%. The company's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. Equities analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is presently 67.97%.

Analyst Ratings Changes

A number of brokerages have issued reports on DUK. Wells Fargo & Company increased their price target on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Raymond James Financial started coverage on shares of Duke Energy in a report on Friday, June 13th. They set a "market perform" rating for the company. Citigroup increased their price target on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. BMO Capital Markets raised their price objective on shares of Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a research note on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $129.20.

Duke Energy Company Profile

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.