Duke Energy Corporation (NYSE:DUK) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Duke Energy by 28.8%, now holding 43,832 shares worth approximately $5.35 million.
• Duke Energy reported $1.25 earnings per share for the last quarter, falling short of analysts' expectations of $1.29, but marked a 4.7% increase in revenue year-over-year.
• The company is increasing its quarterly dividend to $1.065, up from $1.05, reflecting a dividend yield of 3.4%.

Gulf International Bank UK Ltd lessened its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 28.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,832 shares of the utilities provider's stock after selling 17,738 shares during the quarter. Gulf International Bank UK Ltd's holdings in Duke Energy were worth $5,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in shares of Duke Energy during the 1st quarter worth $27,000. Wayfinding Financial LLC purchased a new stake in Duke Energy during the 1st quarter worth about $27,000. Mattson Financial Services LLC purchased a new stake in Duke Energy during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new stake in Duke Energy during the 4th quarter worth about $27,000. Finally, American National Bank & Trust purchased a new stake in Duke Energy during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a research report on Tuesday, July 1st. Morgan Stanley dropped their price objective on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Scotiabank lifted their price objective on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Barclays restated an "overweight" rating and issued a $131.00 price target (up previously from $122.00) on shares of Duke Energy in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Duke Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.80.

Insiders Place Their Bets

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of the transaction, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Trading Down 1.6%

Shares of NYSE:DUK traded down $2.00 during trading on Friday, reaching $122.26. 4,023,961 shares of the stock were exchanged, compared to its average volume of 3,380,039. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85. The firm has a market cap of $95.07 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.36. The firm's 50-day moving average price is $119.07 and its 200 day moving average price is $118.01.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) 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 firm had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $1.065 dividend. The ex-dividend date is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Duke Energy 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.