Duke Energy Corp (NYSE:DUK) Position Lifted by Westpac Banking Corp

Westpac Banking Corp raised its stake in shares of Duke Energy Corp (NYSE:DUK) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,055 shares of the utilities provider’s stock after acquiring an additional 7,238 shares during the quarter. Westpac Banking Corp’s holdings in Duke Energy were worth $11,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC Private Wealth Group LLC boosted its stake in Duke Energy by 3.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 23,066 shares of the utilities provider’s stock valued at $2,035,000 after acquiring an additional 788 shares during the last quarter. Cibc Bank USA boosted its stake in Duke Energy by 7.3% during the 2nd quarter. Cibc Bank USA now owns 4,233 shares of the utilities provider’s stock valued at $374,000 after acquiring an additional 287 shares during the last quarter. CWM LLC boosted its stake in Duke Energy by 66.6% during the 2nd quarter. CWM LLC now owns 168,361 shares of the utilities provider’s stock valued at $14,856,000 after acquiring an additional 67,306 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Duke Energy by 0.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 128,603 shares of the utilities provider’s stock valued at $11,348,000 after acquiring an additional 825 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its stake in Duke Energy by 0.4% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 135,842 shares of the utilities provider’s stock valued at $11,987,000 after acquiring an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Shares of Duke Energy stock traded up $0.81 during trading hours on Wednesday, reaching $90.31. The company’s stock had a trading volume of 855,343 shares, compared to its average volume of 3,162,824. The business’s 50 day moving average price is $88.60. The company has a current ratio of 0.71, a quick ratio of 0.47 and a debt-to-equity ratio of 1.26. Duke Energy Corp has a one year low of $78.00 and a one year high of $91.67. The stock has a market capitalization of $65.39 billion, a PE ratio of 19.13, a P/E/G ratio of 3.71 and a beta of 0.12.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.14. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Duke Energy Corp will post 4.93 EPS for the current 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 $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Thursday, August 15th. This is a boost from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s dividend payout ratio (DPR) is 78.60%.

In related news, EVP Lloyd M. Yates sold 5,117 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total value of $451,319.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director E Marie Mckee sold 1,781 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $87.37, for a total transaction of $155,605.97. Following the completion of the sale, the director now directly owns 1 shares in the company, valued at approximately $87.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,598 shares of company stock worth $752,989. Corporate insiders own 0.09% of the company’s stock.

A number of research firms have recently issued reports on DUK. ValuEngine downgraded shares of Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Citigroup reduced their price target on shares of Duke Energy from $91.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Barclays reduced their price target on shares of Duke Energy from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Bank of America downgraded shares of Duke Energy from a “neutral” rating to an “underperform” rating in a research report 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 on the stock. in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $90.50.

Duke Energy 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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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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