Duke Energy Corp (DUK) Shares Sold by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. cut its stake in Duke Energy Corp (NYSE:DUK) by 10.4% in the second quarter, HoldingsChannel.com reports. The fund owned 159,583 shares of the utilities provider’s stock after selling 18,594 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Duke Energy were worth $12,620,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in DUK. Ashfield Capital Partners LLC grew its position in Duke Energy by 20.7% during the first quarter. Ashfield Capital Partners LLC now owns 13,412 shares of the utilities provider’s stock valued at $1,039,000 after buying an additional 2,303 shares during the period. Wells Fargo & Company MN grew its position in Duke Energy by 3.2% during the first quarter. Wells Fargo & Company MN now owns 3,667,525 shares of the utilities provider’s stock valued at $284,122,000 after buying an additional 114,386 shares during the period. Daiwa Securities Group Inc. grew its position in Duke Energy by 7.4% during the first quarter. Daiwa Securities Group Inc. now owns 32,635 shares of the utilities provider’s stock valued at $2,528,000 after buying an additional 2,246 shares during the period. D.B. Root & Company LLC grew its position in Duke Energy by 20.4% during the first quarter. D.B. Root & Company LLC now owns 11,072 shares of the utilities provider’s stock valued at $858,000 after buying an additional 1,876 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in Duke Energy during the first quarter valued at approximately $11,462,000. Hedge funds and other institutional investors own 59.06% of the company’s stock.
In other news, EVP Melissa H. Anderson sold 500 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $81.76, for a total value of $40,880.00. Following the transaction, the executive vice president now owns 15,096 shares of the company’s stock, valued at $1,234,248.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Dhiaa M. Jamil sold 4,279 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $81.54, for a total transaction of $348,909.66. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock worth $956,650 in the last ninety days. Insiders own 0.07% of the company’s stock.
Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.08). Duke Energy had a net margin of 11.52% and a return on equity of 7.92%. The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.61 billion. During the same period in the prior year, the firm earned $1.01 EPS. Duke Energy’s revenue for the quarter was up 1.6% compared to the same quarter last year. equities research analysts predict that Duke Energy Corp will post 4.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 17th will be issued a dividend of $0.9275 per share. The ex-dividend date is Thursday, August 16th. This represents a $3.71 annualized dividend and a yield of 4.56%. This is an increase from Duke Energy’s previous quarterly dividend of $0.89. Duke Energy’s payout ratio is currently 81.18%.
Several analysts recently issued reports on DUK shares. Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Duke Energy in a research report on Monday, July 23rd. Zacks Investment Research upgraded shares of Duke Energy from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Wednesday, May 30th. Bank of America upgraded shares of Duke Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Wednesday, June 20th. Scotiabank initiated coverage on shares of Duke Energy in a research report on Tuesday, July 24th. They set a “buy” rating and a $85.00 target price for the company. Finally, Morgan Stanley lowered their price target on shares of Duke Energy from $84.00 to $79.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $83.69.
Duke Energy Profile
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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