Cornerstone Advisors LLC Sells 6,100 Shares of Duke Energy Corporation (NYSE:DUK)

Cornerstone Advisors LLC trimmed its holdings in Duke Energy Corporation (NYSE:DUK) by 16.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 30,600 shares of the utilities provider’s stock after selling 6,100 shares during the quarter. Cornerstone Advisors LLC’s holdings in Duke Energy were worth $3,732,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vermillion Wealth Management Inc. purchased a new stake in Duke Energy during the 4th quarter valued at $27,000. Wayfinding Financial LLC purchased a new stake in Duke Energy during the 1st quarter valued at $27,000. N.E.W. Advisory Services LLC purchased a new stake in Duke Energy during the 1st quarter valued at $27,000. Mattson Financial Services LLC purchased a new stake in Duke Energy during the 4th quarter valued at $28,000. Finally, Redwood Park Advisors LLC purchased a new stake in Duke Energy during the 4th quarter valued at $36,000. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Trading Down 0.0%

Shares of Duke Energy stock opened at $124.15 on Wednesday. The company has a market capitalization of $96.50 billion, a P/E ratio of 20.59, a P/E/G ratio of 3.00 and a beta of 0.36. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.50 and a current ratio of 0.77. The company has a fifty day moving average of $117.66 and a 200 day moving average of $117.20. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85.

Duke Energy (NYSE:DUK) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the company posted $1.18 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.05. Duke Energy’s payout ratio is 69.32%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $122.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. UBS Group reiterated a “neutral” rating and set a $127.00 target price (up from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. Wells Fargo & Company boosted their target price on shares of Duke Energy from $127.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Morgan Stanley reduced their price objective on Duke Energy from $125.00 to $124.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. Finally, Citigroup upped their price objective on Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.25.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.