Wrapmanager Inc. lowered its position in shares of Duke Energy Corp (NYSE:DUK) by 1.3% in the first quarter, Holdings Channel reports. The fund owned 16,815 shares of the utilities provider’s stock after selling 225 shares during the period. Wrapmanager Inc.’s holdings in Duke Energy were worth $1,513,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new position in shares of Duke Energy during the first quarter worth about $25,000. Proficio Capital Partners LLC boosted its position in shares of Duke Energy by 59.0% during the fourth 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 period. Riverview Trust Co acquired a new position in shares of Duke Energy during the first quarter worth about $39,000. Sontag Advisory LLC acquired a new position in shares of Duke Energy during the fourth quarter worth about $43,000. Finally, Executive Wealth Management LLC acquired a new position in shares of Duke Energy during the fourth quarter worth about $52,000. Institutional investors own 61.10% of the company’s stock.
Several research firms have recently weighed in on DUK. Morgan Stanley upped their price objective on Duke Energy from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America cut Duke Energy from a “neutral” rating to an “underperform” rating in a research report on Monday, May 13th. Credit Suisse Group cut Duke Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Finally, ValuEngine cut Duke Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $86.90.
Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, May 9th. The utilities provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.21 by $0.03. Duke Energy had a return on equity of 7.70% and a net margin of 12.00%. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.39 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts forecast that Duke Energy Corp will post 4.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.9275 per share. The ex-dividend date is Thursday, May 16th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.25%. Duke Energy’s dividend payout ratio (DPR) is currently 78.60%.
In other news, SVP Dwight L. Jacobs sold 1,700 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $85.92, for a total transaction of $146,064.00. Following the transaction, the senior vice president now owns 6,091 shares in the company, valued at $523,338.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Lynn J. Good sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $89.92, for a total value of $1,348,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,950 shares of company stock worth $2,046,942. 0.09% of the stock is owned by corporate insiders.
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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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