FTB Advisors Inc. decreased its holdings in Duke Energy Corp (NYSE:DUK) by 7.5% in the first quarter, HoldingsChannel.com reports. The firm owned 13,848 shares of the utilities provider’s stock after selling 1,122 shares during the quarter. FTB Advisors Inc.’s holdings in Duke Energy were worth $1,245,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DUK. Vanguard Group Inc raised its holdings in shares of Duke Energy by 2.9% during the third quarter. Vanguard Group Inc now owns 54,434,882 shares of the utilities provider’s stock valued at $4,355,880,000 after acquiring an additional 1,539,841 shares during the last quarter. BlackRock Inc. grew its position in Duke Energy by 2.6% in the fourth quarter. BlackRock Inc. now owns 48,270,073 shares of the utilities provider’s stock worth $4,165,706,000 after acquiring an additional 1,226,657 shares during the period. Northern Trust Corp grew its position in Duke Energy by 4.7% in the fourth quarter. Northern Trust Corp now owns 9,338,113 shares of the utilities provider’s stock worth $805,879,000 after acquiring an additional 415,434 shares during the period. Geode Capital Management LLC grew its position in Duke Energy by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 8,951,045 shares of the utilities provider’s stock worth $771,079,000 after acquiring an additional 750,534 shares during the period. Finally, FMR LLC grew its position in Duke Energy by 41.8% in the fourth quarter. FMR LLC now owns 7,411,128 shares of the utilities provider’s stock worth $639,581,000 after acquiring an additional 2,186,456 shares during the period. 60.81% of the stock is owned by institutional investors.
In other Duke Energy news, EVP Lloyd M. Yates sold 3,500 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $88.51, for a total value of $309,785.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Dhiaa M. Jamil sold 750 shares of the firm’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. Over the last quarter, insiders sold 21,250 shares of company stock worth $1,900,878. Insiders own 0.09% of the company’s stock.
Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, February 14th. The utilities provider reported $0.84 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.05). Duke Energy had a return on equity of 7.80% and a net margin of 10.87%. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Duke Energy Corp will post 4.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 17th will be paid a $0.9275 dividend. This represents a $3.71 annualized dividend and a dividend yield of 4.13%. Duke Energy’s payout ratio is currently 78.60%.
Several research analysts recently weighed in on DUK shares. Zacks Investment Research lowered Duke Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. 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. Credit Suisse Group lowered Duke Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Bank of America increased their price objective on Duke Energy from $89.00 to $91.00 and gave the stock a “neutral” rating in a research report on Monday, March 11th. Finally, ValuEngine lowered Duke Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $86.10.
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Duke Energy Profile
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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