Amica Mutual Insurance Co. lowered its holdings in shares of Duke Energy Corp (NYSE:DUK) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,394 shares of the utilities provider’s stock after selling 1,182 shares during the period. Amica Mutual Insurance Co.’s holdings in Duke Energy were worth $1,888,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Willingdon Wealth Management boosted its stake in Duke Energy by 19.8% during the 2nd quarter. Willingdon Wealth Management now owns 36,775 shares of the utilities provider’s stock worth $3,245,000 after purchasing an additional 6,084 shares during the period. Pendal Group Ltd boosted its stake in Duke Energy by 4.4% during the 2nd quarter. Pendal Group Ltd now owns 13,406 shares of the utilities provider’s stock worth $1,141,000 after purchasing an additional 561 shares during the period. Westpac Banking Corp boosted its stake in Duke Energy by 5.8% during the 2nd quarter. Westpac Banking Corp now owns 131,055 shares of the utilities provider’s stock worth $11,564,000 after purchasing an additional 7,238 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Duke Energy by 3.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 23,066 shares of the utilities provider’s stock worth $2,035,000 after purchasing an additional 788 shares during the period. Finally, Cibc Bank USA raised its position in Duke Energy by 7.3% during the 2nd quarter. Cibc Bank USA now owns 4,233 shares of the utilities provider’s stock worth $374,000 after buying an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 60.01% of the company’s stock.
Shares of Duke Energy stock opened at $89.47 on Tuesday. The stock has a market cap of $65.05 billion, a P/E ratio of 18.96, a P/E/G ratio of 3.69 and a beta of 0.12. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.49 and a current ratio of 0.71. Duke Energy Corp has a one year low of $78.00 and a one year high of $91.67. The stock’s fifty day moving average price is $88.60.
Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.14. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS. As a group, equities analysts anticipate that Duke Energy Corp will post 4.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Thursday, August 15th. This is an increase from Duke Energy’s previous quarterly dividend of $0.93. Duke Energy’s dividend payout ratio (DPR) is currently 78.60%.
A number of brokerages have commented on DUK. ValuEngine downgraded shares of Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Morgan Stanley cut their price objective on shares of Duke Energy from $99.00 to $92.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Citigroup cut their price objective on shares of Duke Energy from $91.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. set a $90.00 price objective on shares of Duke Energy and gave the stock a “hold” rating in a research report on Monday, May 20th. Finally, KeyCorp began coverage on shares of Duke Energy in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $90.50.
In other news, SVP Dwight L. Jacobs sold 1,700 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $85.92, for a total value of $146,064.00. Following the completion of the transaction, the senior vice president now owns 6,091 shares in the company, valued at approximately $523,338.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lloyd M. Yates sold 5,117 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total transaction of $451,319.40. The disclosure for this sale can be found here. Insiders sold a total of 8,598 shares of company stock valued at $752,989 in the last quarter. Insiders own 0.09% of the company’s stock.
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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