Duke Energy Corp (DUK) Holdings Reduced by Cadence Capital Management LLC

Share on StockTwits

Cadence Capital Management LLC cut its position in shares of Duke Energy Corp (NYSE:DUK) by 10.0% during the third quarter, HoldingsChannel.com reports. The firm owned 33,214 shares of the utilities provider’s stock after selling 3,681 shares during the period. Cadence Capital Management LLC’s holdings in Duke Energy were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Duke Energy by 0.4% in the 2nd quarter. BlackRock Inc. now owns 45,977,809 shares of the utilities provider’s stock valued at $3,635,924,000 after buying an additional 174,888 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Duke Energy by 0.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 19,862,028 shares of the utilities provider’s stock valued at $1,589,358,000 after buying an additional 121,046 shares in the last quarter. Legal & General Group Plc boosted its stake in Duke Energy by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 5,037,516 shares of the utilities provider’s stock valued at $398,357,000 after buying an additional 95,960 shares in the last quarter. FMR LLC boosted its stake in Duke Energy by 28.5% in the 2nd quarter. FMR LLC now owns 4,618,128 shares of the utilities provider’s stock valued at $365,201,000 after buying an additional 1,023,646 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Duke Energy by 7.8% in the 3rd quarter. Wells Fargo & Company MN now owns 3,918,532 shares of the utilities provider’s stock valued at $313,561,000 after buying an additional 283,755 shares in the last quarter. Institutional investors and hedge funds own 58.85% of the company’s stock.

Duke Energy stock opened at $84.33 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $58.83 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 3.48 and a beta of -0.06. Duke Energy Corp has a 52 week low of $71.96 and a 52 week high of $91.80.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Friday, November 2nd. The utilities provider reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.12. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.59 billion. Duke Energy had a return on equity of 8.07% and a net margin of 11.98%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. Research analysts anticipate that Duke Energy Corp will post 4.74 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 16th will be paid a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Thursday, November 15th. Duke Energy’s dividend payout ratio is currently 81.18%.

In other Duke Energy news, COO Dhiaa M. Jamil sold 7,000 shares of the business’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $80.98, for a total value of $566,860.00. Following the transaction, the chief operating officer now owns 4,279 shares of the company’s stock, valued at $346,513.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Dhiaa M. Jamil sold 4,279 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were 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. 0.08% of the stock is currently owned by insiders.

Several analysts recently commented on the company. Morgan Stanley decreased their price target on Duke Energy from $91.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, September 21st. JPMorgan Chase & Co. raised Duke Energy from an “underweight” rating to a “neutral” rating and set a $72.00 price target on the stock in a research note on Monday, July 23rd. Guggenheim reaffirmed a “buy” rating and issued a $86.00 price target on shares of Duke Energy in a research note on Friday, August 17th. Zacks Investment Research raised Duke Energy from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Wednesday, July 25th. Finally, Citigroup raised Duke Energy from a “sell” rating to a “neutral” rating and set a $77.00 price target on the stock in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $84.00.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Week Herald and is owned by of Week Herald. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://weekherald.com/2018/11/07/duke-energy-corp-duk-holdings-reduced-by-cadence-capital-management-llc.html.

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.

Further Reading: Understanding Market Liquidity

Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corp (NYSE:DUK).

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

Receive News & Ratings for Duke Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply