Highstreet Asset Management Inc. Buys New Stake in Duke Energy Corporation (DUK)
Highstreet Asset Management Inc. bought a new stake in Duke Energy Corporation (NYSE:DUK) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 8,604 shares of the utilities provider’s stock, valued at approximately $720,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Camden National Bank grew its position in Duke Energy Corporation by 1.2% in the 2nd quarter. Camden National Bank now owns 94,285 shares of the utilities provider’s stock valued at $7,881,000 after acquiring an additional 1,118 shares in the last quarter. Allegis Investment Advisors LLC grew its position in Duke Energy Corporation by 6.4% in the 2nd quarter. Allegis Investment Advisors LLC now owns 4,397 shares of the utilities provider’s stock valued at $368,000 after acquiring an additional 266 shares in the last quarter. Legal & General Group Plc grew its position in Duke Energy Corporation by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 4,874,704 shares of the utilities provider’s stock valued at $407,527,000 after acquiring an additional 147,323 shares in the last quarter. SG Americas Securities LLC grew its position in Duke Energy Corporation by 172.1% in the 2nd quarter. SG Americas Securities LLC now owns 80,753 shares of the utilities provider’s stock valued at $6,750,000 after acquiring an additional 51,077 shares in the last quarter. Finally, Horan Capital Advisors LLC. grew its position in Duke Energy Corporation by 1.8% in the 2nd quarter. Horan Capital Advisors LLC. now owns 3,501 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 63 shares in the last quarter. 56.22% of the stock is owned by institutional investors.
In other news, EVP Douglas F. Esamann sold 5,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $86.22, for a total value of $431,100.00. Following the completion of the sale, the executive vice president now owns 50,316 shares in the company, valued at $4,338,245.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by company insiders.
Several equities analysts have weighed in on the company. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $87.00 target price on shares of Duke Energy Corporation in a research report on Wednesday. Zacks Investment Research downgraded Duke Energy Corporation from a “buy” rating to a “sell” rating in a research report on Tuesday, September 19th. Morgan Stanley lifted their target price on Duke Energy Corporation from $89.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. KeyCorp reaffirmed a “hold” rating on shares of Duke Energy Corporation in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $87.00 target price on shares of Duke Energy Corporation in a research report on Tuesday, August 29th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Duke Energy Corporation presently has an average rating of “Hold” and a consensus target price of $83.31.
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Duke Energy Corporation (NYSE DUK) opened at 84.47 on Thursday. The stock has a 50 day moving average price of $86.21 and a 200 day moving average price of $84.65. Duke Energy Corporation has a 52 week low of $72.34 and a 52 week high of $88.40. The stock has a market cap of $59.12 billion, a PE ratio of 25.02 and a beta of 0.24.
Duke Energy Corporation (NYSE:DUK) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts predict that Duke Energy Corporation will post $4.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, August 18th were paid a $0.89 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.21%. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. Duke Energy Corporation’s dividend payout ratio (DPR) is 105.64%.
Duke Energy Corporation Company Profile
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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