Carmichael Hill & Associates Inc. Decreases Position in Duke Energy Corp (DUK)
Carmichael Hill & Associates Inc. cut its stake in Duke Energy Corp (NYSE:DUK) by 6.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,371 shares of the utilities provider’s stock after selling 294 shares during the quarter. Carmichael Hill & Associates Inc.’s holdings in Duke Energy were worth $393,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Canton Hathaway LLC acquired a new stake in shares of Duke Energy during the 1st quarter worth approximately $25,000. Proficio Capital Partners LLC increased its holdings in shares of Duke Energy by 59.0% during the 4th quarter. Proficio Capital Partners LLC now owns 442 shares of the utilities provider’s stock worth $38,000 after buying an additional 164 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Duke Energy during the 1st quarter worth approximately $39,000. Vigilant Capital Management LLC acquired a new stake in shares of Duke Energy during the 4th quarter worth approximately $43,000. Finally, Sontag Advisory LLC acquired a new stake in shares of Duke Energy during the 4th quarter worth approximately $43,000. 60.74% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Dhiaa M. Jamil sold 750 shares of Duke Energy stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $89.75, for a total value of $67,312.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lynn J. Good sold 15,000 shares of Duke Energy stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $89.92, for a total transaction of $1,348,800.00. The disclosure for this sale can be found here. Insiders sold a total of 21,250 shares of company stock valued at $1,900,878 in the last quarter. 0.09% of the stock is owned by insiders.
Duke Energy (NYSE:DUK) last posted its earnings results on Thursday, February 14th. The utilities provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.05). Duke Energy had a net margin of 10.87% and a return on equity of 7.80%. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the business posted $0.94 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that Duke Energy Corp will post 4.94 EPS for the current year.
A number of analysts have recently issued reports on DUK shares. Zacks Investment Research downgraded shares of Duke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Morgan Stanley raised their price target on shares of Duke Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 12th. Credit Suisse Group downgraded shares of Duke Energy from an “outperform” rating to a “neutral” rating in a report on Friday, February 15th. Bank of America raised their price target on shares of Duke Energy from $89.00 to $91.00 and gave the stock a “neutral” rating in a report on Monday, March 11th. Finally, ValuEngine downgraded shares of Duke Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Duke Energy presently has an average rating of “Hold” and an average target price of $86.10.
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About Duke Energy
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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