United Services Automobile Association Reduces Stake in Duke Energy Corporation (DUK)

United Services Automobile Association cut its position in Duke Energy Corporation (NYSE:DUK) by 6.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 998,506 shares of the utilities provider’s stock after selling 64,838 shares during the period. United Services Automobile Association owned approximately 0.14% of Duke Energy Corporation worth $81,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hennessy Advisors Inc. boosted its position in Duke Energy Corporation by 1.5% in the first quarter. Hennessy Advisors Inc. now owns 379,737 shares of the utilities provider’s stock worth $31,142,000 after buying an additional 5,500 shares during the period. Hexavest Inc. boosted its position in Duke Energy Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 780,241 shares of the utilities provider’s stock worth $63,988,000 after buying an additional 32,947 shares during the period. Pegasus Partners Ltd. boosted its position in Duke Energy Corporation by 0.5% in the first quarter. Pegasus Partners Ltd. now owns 23,034 shares of the utilities provider’s stock worth $1,889,000 after buying an additional 110 shares during the period. Brookstone Capital Management boosted its position in Duke Energy Corporation by 7.9% in the first quarter. Brookstone Capital Management now owns 78,707 shares of the utilities provider’s stock worth $6,455,000 after buying an additional 5,795 shares during the period. Finally, Rothschild Investment Corp IL boosted its position in Duke Energy Corporation by 0.3% in the first quarter. Rothschild Investment Corp IL now owns 48,836 shares of the utilities provider’s stock worth $4,005,000 after buying an additional 152 shares during the period. 55.79% of the stock is owned by hedge funds and other institutional investors.

Shares of Duke Energy Corporation (NYSE:DUK) opened at 86.51 on Friday. The firm has a market cap of $60.55 billion, a P/E ratio of 27.59 and a beta of 0.24. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $87.75. The firm’s 50-day moving average is $84.87 and its 200-day moving average is $82.44.

Duke Energy Corporation (NYSE:DUK) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.01. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy Corporation had a return on equity of 7.87% and a net margin of 9.17%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. Analysts anticipate that Duke Energy Corporation will post $4.61 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be paid a $0.89 dividend. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Wednesday, August 16th. Duke Energy Corporation’s payout ratio is 109.27%.

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A number of research analysts have recently commented on DUK shares. Barclays PLC reissued an “equal weight” rating and issued a $88.00 target price (up previously from $82.00) on shares of Duke Energy Corporation in a report on Sunday, April 23rd. Zacks Investment Research cut shares of Duke Energy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. BidaskClub cut shares of Duke Energy Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) raised shares of Duke Energy Corporation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $82.00 to $85.00 in a report on Monday, June 26th. Finally, Deutsche Bank AG increased their target price on shares of Duke Energy Corporation from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.36.

In other Duke Energy Corporation news, Director John H. Forsgren sold 2,190 shares of Duke Energy Corporation stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $82.86, for a total value of $181,463.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director E Marie Mckee sold 1,937 shares of Duke Energy Corporation stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total value of $165,206.73. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

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.

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

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