Korea Investment CORP Decreases Position in Duke Energy (DUK)

Korea Investment CORP reduced its stake in Duke Energy (NYSE:DUK) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,855 shares of the utilities provider’s stock after selling 15,340 shares during the period. Korea Investment CORP’s holdings in Duke Energy were worth $24,547,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Smith Moore & CO. raised its stake in Duke Energy by 6.3% in the fourth quarter. Smith Moore & CO. now owns 11,210 shares of the utilities provider’s stock worth $943,000 after buying an additional 667 shares in the last quarter. Essex Financial Services Inc. raised its stake in Duke Energy by 5.1% in the first quarter. Essex Financial Services Inc. now owns 14,488 shares of the utilities provider’s stock worth $1,122,000 after buying an additional 703 shares in the last quarter. Biondo Investment Advisors LLC raised its stake in Duke Energy by 1.8% in the fourth quarter. Biondo Investment Advisors LLC now owns 39,310 shares of the utilities provider’s stock worth $3,341,000 after buying an additional 705 shares in the last quarter. Cedar Hill Associates LLC raised its stake in Duke Energy by 16.4% in the fourth quarter. Cedar Hill Associates LLC now owns 5,027 shares of the utilities provider’s stock worth $419,000 after buying an additional 708 shares in the last quarter. Finally, North Star Asset Management Inc. raised its stake in Duke Energy by 21.6% in the fourth quarter. North Star Asset Management Inc. now owns 4,010 shares of the utilities provider’s stock worth $337,000 after buying an additional 713 shares in the last quarter. 57.45% of the stock is owned by institutional investors.

In other news, Director E Marie Mckee sold 2,006 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $77.49, for a total transaction of $155,444.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Dhiaa M. Jamil sold 3,800 shares of the stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $76.98, for a total transaction of $292,524.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,894 shares of company stock worth $454,703. Corporate insiders own 0.07% of the company’s stock.

Shares of NYSE DUK opened at $73.80 on Friday. Duke Energy has a fifty-two week low of $72.93 and a fifty-two week high of $91.80. The company has a market cap of $51.73 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 4.01 and a beta of 0.10. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 1.17.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, May 10th. The utilities provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.14. Duke Energy had a net margin of 12.33% and a return on equity of 8.10%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts anticipate that Duke Energy will post 4.71 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 18th. Stockholders of record on Friday, May 18th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Thursday, May 17th. Duke Energy’s payout ratio is 77.90%.

A number of equities analysts recently issued reports on the stock. Bank of America increased their price target on shares of Duke Energy from $79.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 18th. JPMorgan Chase increased their price target on shares of Duke Energy from $77.00 to $78.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 10th. SunTrust Banks reissued a “hold” rating and issued a $82.00 price target on shares of Duke Energy in a research note on Monday, April 23rd. Goldman Sachs downgraded shares of Duke Energy from a “neutral” rating to a “sell” rating and raised their target price for the company from $76.90 to $78.00 in a research note on Wednesday, March 28th. Finally, Deutsche Bank raised shares of Duke Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $77.22 to $86.00 in a research note on Monday, February 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Duke Energy currently has a consensus rating of “Hold” and an average price target of $84.29.

Duke Energy Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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