Russell Investments Group Ltd. lifted its stake in shares of Duke Energy Corp (NYSE:DUK) by 14.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 658,913 shares of the utilities provider’s stock after acquiring an additional 81,360 shares during the period. Russell Investments Group Ltd. owned 0.09% of Duke Energy worth $52,584,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Landaas & Co. WI ADV purchased a new position in Duke Energy during the second quarter worth about $110,000. TRUE Private Wealth Advisors purchased a new position in Duke Energy during the third quarter worth about $119,000. Kaizen Advisory LLC lifted its position in Duke Energy by 125.8% during the second quarter. Kaizen Advisory LLC now owns 1,540 shares of the utilities provider’s stock worth $122,000 after buying an additional 858 shares during the period. AdvisorNet Financial Inc lifted its position in Duke Energy by 137.3% during the second quarter. AdvisorNet Financial Inc now owns 1,732 shares of the utilities provider’s stock worth $137,000 after buying an additional 1,002 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Duke Energy during the second quarter worth about $140,000. 58.83% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on DUK. Zacks Investment Research downgraded Duke Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Morgan Stanley increased their target price on Duke Energy from $86.00 to $91.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Guggenheim reiterated a “buy” rating and set a $86.00 target price on shares of Duke Energy in a research report on Friday, August 17th. Wells Fargo & Co increased their target price on Duke Energy from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, September 17th. Finally, Citigroup upgraded Duke Energy from a “sell” rating to a “neutral” rating and set a $77.00 target price on the stock in a research report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Duke Energy has an average rating of “Hold” and a consensus price target of $84.06.
Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.08). The firm had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.61 billion. Duke Energy had a return on equity of 7.92% and a net margin of 11.52%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 earnings per share. On average, equities analysts forecast that Duke Energy Corp will post 4.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 16th will be issued a $0.9275 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.45%. Duke Energy’s dividend payout ratio (DPR) is 81.18%.
In other news, EVP Melissa H. Anderson sold 500 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $81.76, for a total value of $40,880.00. Following the transaction, the executive vice president now directly owns 15,096 shares in the company, valued at approximately $1,234,248.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Dhiaa M. Jamil sold 4,279 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $81.54, for a total value of $348,909.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,779 shares of company stock worth $956,650. Company insiders own 0.08% of the company’s stock.
About Duke Energy
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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