Columbia Asset Management Boosts Position in Duke Energy Corp (DUK)
Columbia Asset Management increased its position in shares of Duke Energy Corp (NYSE:DUK) by 8.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,208 shares of the utilities provider’s stock after buying an additional 942 shares during the quarter. Columbia Asset Management’s holdings in Duke Energy were worth $1,025,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Duke Energy by 2,866.0% during the first quarter. BlackRock Inc. now owns 42,708,918 shares of the utilities provider’s stock valued at $3,502,557,000 after purchasing an additional 41,268,968 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Duke Energy by 33.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,422,063 shares of the utilities provider’s stock valued at $772,704,000 after purchasing an additional 2,345,114 shares during the last quarter. Vanguard Group Inc. boosted its position in Duke Energy by 4.1% during the first quarter. Vanguard Group Inc. now owns 48,471,025 shares of the utilities provider’s stock valued at $3,975,109,000 after purchasing an additional 1,918,598 shares during the last quarter. Morgan Stanley boosted its position in Duke Energy by 25.1% during the first quarter. Morgan Stanley now owns 4,909,214 shares of the utilities provider’s stock valued at $402,605,000 after purchasing an additional 986,456 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Duke Energy by 575.7% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 955,632 shares of the utilities provider’s stock valued at $81,984,000 after purchasing an additional 814,210 shares during the last quarter. Institutional investors and hedge funds own 57.34% of the company’s stock.
Several research analysts recently commented on the company. ValuEngine raised Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Wolfe Research raised Duke Energy from an “underperform” rating to a “market perform” rating in a research report on Thursday, November 9th. SunTrust Banks reissued a “hold” rating and set a $90.00 price target on shares of Duke Energy in a research report on Monday, November 6th. Zacks Investment Research raised Duke Energy from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Royal Bank of Canada reissued a “buy” rating and set a $87.00 price target on shares of Duke Energy in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $87.21.
Duke Energy (NYSE:DUK) last released its earnings results on Friday, November 3rd. The utilities provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.03. The company had revenue of $6.48 billion during the quarter, compared to analyst estimates of $7.43 billion. Duke Energy had a return on equity of 7.54% and a net margin of 9.09%. Duke Energy’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 earnings per share. analysts anticipate that Duke Energy Corp will post 4.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Friday, November 17th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, November 16th. Duke Energy’s dividend payout ratio is presently 117.49%.
In other news, EVP Lloyd M. Yates sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $89.95, for a total value of $449,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.07% of the company’s stock.
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About Duke Energy
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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