Riverhead Capital Management LLC lowered its position in Duke Energy Corp (NYSE:DUK) by 1.6% in the third quarter, HoldingsChannel.com reports. The fund owned 36,422 shares of the utilities provider’s stock after selling 582 shares during the quarter. Riverhead Capital Management LLC’s holdings in Duke Energy were worth $2,915,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the business. Boothe Investment Group Inc. acquired a new position in shares of Duke Energy during the 2nd quarter worth about $420,000. Cornerstone Capital Inc. raised its position in shares of Duke Energy by 6.2% during the 2nd quarter. Cornerstone Capital Inc. now owns 58,289 shares of the utilities provider’s stock worth $4,609,000 after purchasing an additional 3,395 shares during the last quarter. Millennium Management LLC raised its position in shares of Duke Energy by 23.2% during the 2nd quarter. Millennium Management LLC now owns 1,740,617 shares of the utilities provider’s stock worth $137,648,000 after purchasing an additional 328,285 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Duke Energy by 69.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 214,894 shares of the utilities provider’s stock worth $16,994,000 after purchasing an additional 87,950 shares during the last quarter. Finally, ProVise Management Group LLC raised its position in shares of Duke Energy by 1,333.8% during the 2nd quarter. ProVise Management Group LLC now owns 37,050 shares of the utilities provider’s stock worth $2,930,000 after purchasing an additional 34,466 shares during the last quarter. Institutional investors and hedge funds own 59.65% of the company’s stock.
DUK has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Duke Energy from $86.00 to $91.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. ValuEngine raised shares of Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Barclays increased their target price on shares of Duke Energy from $86.00 to $88.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Guggenheim reiterated a “buy” rating and set a $86.00 target price on shares of Duke Energy in a report on Friday, August 17th. Finally, Zacks Investment Research lowered shares of Duke Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Duke Energy has a consensus rating of “Hold” and a consensus target price of $84.13.
Duke Energy (NYSE:DUK) last issued its earnings results on Friday, November 2nd. The utilities provider reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.12. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.59 billion. Duke Energy had a net margin of 11.98% and a return on equity of 8.02%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 earnings per share. On average, equities analysts predict that Duke Energy Corp will post 4.74 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $3.71 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, November 15th. Duke Energy’s payout ratio is 81.18%.
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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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