Ropes Wealth Advisors LLC reduced its position in shares of Duke Energy Corp (NYSE:DUK) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,246 shares of the utilities provider’s stock after selling 181 shares during the period. Ropes Wealth Advisors LLC’s holdings in Duke Energy were worth $639,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in DUK. Harvest Group Wealth Management LLC bought a new position in shares of Duke Energy in the first quarter worth about $26,000. Thor Advisors LLC bought a new position in shares of Duke Energy in the first quarter worth about $30,000. Larson Financial Group LLC raised its stake in shares of Duke Energy by 65.5% in the second quarter. Larson Financial Group LLC now owns 422 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 167 shares during the last quarter. Glassman Wealth Services raised its stake in shares of Duke Energy by 35.2% in the first quarter. Glassman Wealth Services now owns 449 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 117 shares during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Duke Energy in the second quarter worth about $41,000. 59.95% of the stock is owned by hedge funds and other institutional investors.
DUK has been the subject of a number of research analyst reports. KeyCorp initiated coverage on shares of Duke Energy in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Citigroup dropped their target price on shares of Duke Energy from $91.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. ValuEngine downgraded shares of Duke Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Bank of America downgraded shares of Duke Energy from a “neutral” rating to an “underperform” rating in a research note on Monday, May 13th. Finally, Zacks Investment Research downgraded shares of Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 price target for the company. in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $90.50.
Shares of DUK traded up $0.07 on Tuesday, reaching $89.57. 1,091,756 shares of the company’s stock were exchanged, compared to its average volume of 2,609,566. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.71 and a quick ratio of 0.47. The stock has a market cap of $65.39 billion, a PE ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.12. The stock’s 50 day simple moving average is $88.60. Duke Energy Corp has a 12 month low of $78.00 and a 12 month high of $91.67.
Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.14. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. Duke Energy’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. As a group, equities analysts forecast that Duke Energy Corp will post 4.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be issued a dividend of $0.945 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.78 dividend on an annualized basis and a yield of 4.22%. This is a boost from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s payout ratio is currently 78.60%.
In related news, EVP Lloyd M. Yates sold 5,117 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total transaction of $451,319.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director E Marie Mckee sold 1,781 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $87.37, for a total transaction of $155,605.97. Following the transaction, the director now owns 1 shares of the company’s stock, valued at approximately $87.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,598 shares of company stock valued at $752,989. Corporate insiders own 0.09% of the company’s stock.
Duke Energy Company Profile
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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