Duke Energy Corp (NYSE:DUK) Stake Raised by Buckingham Asset Management LLC
Buckingham Asset Management LLC raised its position in shares of Duke Energy Corp (NYSE:DUK) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,057 shares of the utilities provider’s stock after purchasing an additional 343 shares during the period. Buckingham Asset Management LLC’s holdings in Duke Energy were worth $652,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Adirondack Trust Co. raised its stake in shares of Duke Energy by 7.3% during the 4th quarter. Adirondack Trust Co. now owns 1,520 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 104 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Duke Energy by 12.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 982 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 110 shares in the last quarter. First National Corp MA ADV raised its stake in shares of Duke Energy by 1.2% during the 4th quarter. First National Corp MA ADV now owns 9,438 shares of the utilities provider’s stock worth $861,000 after purchasing an additional 110 shares in the last quarter. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Duke Energy by 4.6% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 2,517 shares of the utilities provider’s stock worth $230,000 after purchasing an additional 111 shares in the last quarter. Finally, Financial Architects Inc raised its stake in shares of Duke Energy by 0.9% during the 4th quarter. Financial Architects Inc now owns 12,397 shares of the utilities provider’s stock worth $1,131,000 after purchasing an additional 112 shares in the last quarter. 63.68% of the stock is owned by institutional investors.
DUK opened at $81.19 on Friday. The firm has a market capitalization of $59.60 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 3.46 and a beta of 0.33. The stock’s 50 day moving average price is $83.59 and its two-hundred day moving average price is $89.80. The company has a quick ratio of 0.40, a current ratio of 0.62 and a debt-to-equity ratio of 1.23. Duke Energy Corp has a 12-month low of $62.13 and a 12-month high of $103.79.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Thursday, May 14th. Duke Energy’s dividend payout ratio (DPR) is currently 74.70%.
In other Duke Energy news, CEO Lynn J. Good sold 16,400 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $91.86, for a total value of $1,506,504.00. Following the completion of the sale, the chief executive officer now owns 302,325 shares in the company, valued at approximately $27,771,574.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 16,928 shares of company stock valued at $1,548,882 in the last quarter. Corporate insiders own 0.11% of the company’s stock.
A number of research firms have recently weighed in on DUK. JPMorgan Chase & Co. cut their price target on Duke Energy from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Vertical Research started coverage on Duke Energy in a report on Monday, February 24th. They set a “buy” rating and a $112.00 price objective on the stock. Morgan Stanley lowered their price objective on Duke Energy from $96.00 to $87.00 and set an “equal weight” rating on the stock in a report on Friday. Credit Suisse Group raised Duke Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $96.00 to $108.00 in a report on Tuesday, February 18th. Finally, Barclays lowered their price objective on Duke Energy from $104.00 to $79.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Duke Energy presently has an average rating of “Hold” and an average target price of $93.69.
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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