Mitsubishi UFJ Trust & Banking Corp Sells 201,081 Shares of Duke Energy Corporation (NYSE:DUK)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Duke Energy by 8.2%, selling 201,081 shares and retaining 2,252,498 shares, which represents approximately 0.29% of Duke Energy's total equity.
• Duke Energy recently reported earnings of $1.76 per share for the quarter, surpassing analysts' expectations, with a total revenue of $8.25 billion.
• The company announced a quarterly dividend increase to $1.065 per share, reflecting a 3.5% yield, with the ex-dividend date set for August 15th.

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,252,498 shares of the utilities provider's stock after selling 201,081 shares during the period. Duke Energy accounts for about 0.7% of Mitsubishi UFJ Trust & Banking Corp's portfolio, making the stock its 19th biggest holding. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.29% of Duke Energy worth $274,737,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DUK. Toth Financial Advisory Corp grew its holdings in Duke Energy by 31.6% during the 1st quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider's stock valued at $42,000 after buying an additional 83 shares in the last quarter. Reyes Financial Architecture Inc. boosted its position in shares of Duke Energy by 4.8% during the first quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider's stock worth $223,000 after acquiring an additional 83 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Duke Energy by 2.8% during the first quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider's stock valued at $370,000 after acquiring an additional 84 shares in the last quarter. Lokken Investment Group LLC lifted its stake in Duke Energy by 3.3% in the 1st quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider's stock worth $321,000 after purchasing an additional 84 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its holdings in shares of Duke Energy by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider's stock valued at $3,356,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Up 1.1%

NYSE:DUK opened at $122.97 on Friday. The company has a market cap of $95.58 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.94 and a beta of 0.36. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $125.27. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57. The stock has a fifty day simple moving average of $117.35 and a 200-day simple moving average of $116.92.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. The company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. Analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current 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 paid a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.5%. This is an increase from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's payout ratio is currently 69.32%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their target price on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on Duke Energy from $122.00 to $127.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Raymond James Financial initiated coverage on shares of Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a research report on Tuesday, July 1st. Finally, Citigroup boosted their target price on shares of Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $127.25.

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.

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