Lee Danner & Bass Inc. Trims Holdings in Duke Energy Corp (DUK)

Lee Danner & Bass Inc. lowered its position in Duke Energy Corp (NYSE:DUK) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,171 shares of the utilities provider’s stock after selling 1,120 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Duke Energy were worth $3,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Canton Hathaway LLC purchased a new stake in shares of Duke Energy during the first quarter worth approximately $25,000. Harvest Group Wealth Management LLC purchased a new stake in shares of Duke Energy during the first quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in shares of Duke Energy during the first quarter worth approximately $39,000. Proficio Capital Partners LLC raised its stake 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 purchasing an additional 164 shares during the last quarter. Finally, Sontag Advisory LLC purchased a new stake in shares of Duke Energy during the fourth quarter worth approximately $43,000. Institutional investors own 61.10% of the company’s stock.

NYSE:DUK opened at $86.96 on Tuesday. The firm has a market capitalization of $63.45 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 3.64 and a beta of 0.06. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.75 and a quick ratio of 0.49. Duke Energy Corp has a 1 year low of $71.96 and a 1 year high of $91.67.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, May 9th. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.39 billion. Duke Energy had a return on equity of 7.70% and a net margin of 12.00%. Duke Energy’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 earnings per share. As a group, sell-side analysts anticipate that Duke Energy Corp will post 4.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 17th will be given a $0.9275 dividend. This represents a $3.71 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Thursday, May 16th. Duke Energy’s payout ratio is 78.60%.

Several equities research analysts have recently commented on the company. Bank of America upped their price target on Duke Energy from $89.00 to $91.00 and gave the stock a “neutral” rating in a research note on Monday, March 11th. Morgan Stanley increased their price objective on Duke Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 12th. ValuEngine cut Duke Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Credit Suisse Group cut Duke Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Finally, JPMorgan Chase & Co. set a $90.00 price objective on Duke Energy and gave the stock a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $88.70.

In other Duke Energy news, SVP Dwight L. Jacobs sold 1,700 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $85.92, for a total value of $146,064.00. Following the sale, the senior vice president now owns 6,091 shares of the company’s stock, valued at $523,338.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Dhiaa M. Jamil sold 750 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $89.75, for a total value of $67,312.50. The disclosure for this sale can be found here. Insiders sold 20,950 shares of company stock valued at $1,871,962 in the last quarter. 0.09% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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