State Farm Mutual Automobile Insurance Co. continued to hold its position in shares of Duke Energy Corporation (NYSE:DUK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,806,943 shares of the utilities provider’s stock at the end of the first quarter. State Farm Mutual Automobile Insurance Co. owned approximately 0.54% of Duke Energy Corporation worth $312,207,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DUK. National Pension Service raised its stake in Duke Energy Corporation by 4.0% in the first quarter. National Pension Service now owns 485,772 shares of the utilities provider’s stock worth $39,853,000 after buying an additional 18,725 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Duke Energy Corporation by 6.8% in the first quarter. Quadrant Capital Group LLC now owns 2,815 shares of the utilities provider’s stock worth $219,000 after buying an additional 180 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Duke Energy Corporation by 57.3% in the first quarter. Koshinski Asset Management Inc. now owns 16,369 shares of the utilities provider’s stock worth $1,342,000 after buying an additional 5,964 shares in the last quarter. Lynch & Associates IN raised its stake in Duke Energy Corporation by 1.1% in the first quarter. Lynch & Associates IN now owns 28,484 shares of the utilities provider’s stock worth $2,336,000 after buying an additional 301 shares in the last quarter. Finally, Union Bankshares Corp raised its stake in Duke Energy Corporation by 17.0% in the first quarter. Union Bankshares Corp now owns 44,242 shares of the utilities provider’s stock worth $3,629,000 after buying an additional 6,437 shares in the last quarter. 55.79% of the stock is currently owned by institutional investors.
Shares of Duke Energy Corporation (NYSE DUK) opened at 86.48 on Friday. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $87.75. The firm has a market capitalization of $60.53 billion, a PE ratio of 27.58 and a beta of 0.24. The stock’s 50 day moving average price is $84.87 and its 200-day moving average price is $82.44.
Duke Energy Corporation (NYSE:DUK) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that Duke Energy Corporation will post $4.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.12%. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Wednesday, August 16th. Duke Energy Corporation’s payout ratio is 101.48%.
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A number of analysts have weighed in on DUK shares. Zacks Investment Research upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Friday, July 21st. Goldman Sachs Group, Inc. (The) upgraded Duke Energy Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $82.00 to $85.00 in a report on Monday, June 26th. Morgan Stanley reiterated an “equal weight” rating and set a $87.00 price objective (down previously from $91.00) on shares of Duke Energy Corporation in a report on Monday, July 10th. Barclays PLC reiterated an “equal weight” rating and set a $88.00 price objective (up previously from $82.00) on shares of Duke Energy Corporation in a report on Sunday, April 23rd. Finally, BidaskClub lowered Duke Energy Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Duke Energy Corporation has a consensus rating of “Hold” and a consensus target price of $82.51.
In other news, Director Theodore F. Craver, Jr. purchased 3,500 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $83.73 per share, for a total transaction of $293,055.00. Following the completion of the purchase, the director now directly owns 5,706 shares in the company, valued at approximately $477,763.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John H. Forsgren sold 2,190 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $82.86, for a total transaction of $181,463.40. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.
Duke Energy Corporation Company Profile
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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