Texas Permanent School Fund lessened its stake in Duke Energy Corporation (NYSE:DUK) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,647 shares of the utilities provider’s stock after selling 7,767 shares during the period. Texas Permanent School Fund’s holdings in Duke Energy Corporation were worth $16,438,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. S&CO Inc. bought a new position in Duke Energy Corporation during the 2nd quarter valued at approximately $204,000. Braun Stacey Associates Inc. raised its position in Duke Energy Corporation by 3.4% during the 2nd quarter. Braun Stacey Associates Inc. now owns 98,343 shares of the utilities provider’s stock valued at $8,221,000 after purchasing an additional 3,230 shares during the last quarter. Cadence Bank NA raised its position in Duke Energy Corporation by 0.5% during the 2nd quarter. Cadence Bank NA now owns 12,725 shares of the utilities provider’s stock valued at $1,064,000 after purchasing an additional 63 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Duke Energy Corporation by 1.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 28,766 shares of the utilities provider’s stock valued at $2,405,000 after purchasing an additional 300 shares during the last quarter. Finally, Kistler Tiffany Companies LLC raised its position in Duke Energy Corporation by 74.5% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,199 shares of the utilities provider’s stock valued at $351,000 after purchasing an additional 1,793 shares during the last quarter. 56.22% of the stock is owned by institutional investors.
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Duke Energy Corporation (DUK) opened at 86.06 on Tuesday. The firm’s 50 day moving average price is $86.72 and its 200-day moving average price is $84.38. The stock has a market cap of $60.24 billion, a P/E ratio of 25.49 and a beta of 0.25. Duke Energy Corporation has a 12-month low of $72.34 and a 12-month high of $88.40.
Duke Energy Corporation (NYSE:DUK) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate that Duke Energy Corporation will post $4.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Friday, August 18th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 4.14%. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, August 16th. Duke Energy Corporation’s dividend payout ratio (DPR) is presently 105.64%.
In related news, EVP Douglas F. Esamann sold 5,000 shares of Duke Energy Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $86.22, for a total transaction of $431,100.00. Following the transaction, the executive vice president now directly owns 50,316 shares of the company’s stock, valued at $4,338,245.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.
A number of research firms have commented on DUK. Morgan Stanley upped their price target on Duke Energy Corporation from $87.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Zacks Investment Research raised Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Friday. BMO Capital Markets reaffirmed a “hold” rating and set a $87.00 price target (up previously from $85.00) on shares of Duke Energy Corporation in a research report on Friday, August 4th. Deutsche Bank AG reaffirmed a “hold” rating and set a $84.00 price target (up previously from $83.00) on shares of Duke Energy Corporation in a research report on Wednesday, August 9th. Finally, BidaskClub raised Duke Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.18.
About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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