Magellan Asset Management Ltd Buys 26,964 Shares of Duke Energy Corporation (DUK)

Magellan Asset Management Ltd boosted its stake in shares of Duke Energy Corporation (NYSE:DUK) by 13.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,755 shares of the utilities provider’s stock after acquiring an additional 26,964 shares during the quarter. Magellan Asset Management Ltd’s holdings in Duke Energy Corporation were worth $18,620,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Winfield Associates Inc. raised its position in Duke Energy Corporation by 14.3% during the second quarter. Winfield Associates Inc. now owns 1,322 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 165 shares in the last quarter. Jolley Asset Management LLC raised its position in Duke Energy Corporation by 26.4% during the second quarter. Jolley Asset Management LLC now owns 1,499 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 313 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new position in Duke Energy Corporation during the second quarter valued at approximately $130,000. Jacobi Capital Management LLC raised its position in Duke Energy Corporation by 104.1% during the first quarter. Jacobi Capital Management LLC now owns 1,980 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Camarda Financial Advisors LLC raised its position in Duke Energy Corporation by 357.1% during the second quarter. Camarda Financial Advisors LLC now owns 2,130 shares of the utilities provider’s stock valued at $178,000 after acquiring an additional 1,664 shares in the last quarter. Institutional investors own 56.27% of the company’s stock.

In related news, EVP Douglas F. Esamann sold 5,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $86.22, for a total value of $431,100.00. Following the sale, the executive vice president now owns 50,316 shares in the company, valued at approximately $4,338,245.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by insiders.

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DUK has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Friday, July 21st. Royal Bank Of Canada restated a “buy” rating and issued a $87.00 price objective on shares of Duke Energy Corporation in a research report on Tuesday, August 29th. BidaskClub upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Morgan Stanley boosted their price target on Duke Energy Corporation from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Duke Energy Corporation in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $86.90.

Shares of Duke Energy Corporation (DUK) traded down $0.74 during trading on Friday, hitting $88.89. The stock had a trading volume of 2,216,600 shares, compared to its average volume of 2,307,338. Duke Energy Corporation has a twelve month low of $72.34 and a twelve month high of $89.74. The firm has a market cap of $62,220.87, a price-to-earnings ratio of 19.98, a PEG ratio of 4.86 and a beta of 0.26. The company has a current ratio of 0.71, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17.

Duke Energy Corporation (NYSE:DUK) last announced its quarterly earnings results on Friday, November 3rd. The utilities provider reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.03. Duke Energy Corporation had a return on equity of 7.54% and a net margin of 9.09%. The business had revenue of $6.48 billion for the quarter, compared to analyst estimates of $7.43 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. research analysts expect that Duke Energy Corporation will post 4.56 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Friday, November 17th will be issued a $0.89 dividend. The ex-dividend date is Thursday, November 16th. This represents a $3.56 annualized dividend and a dividend yield of 4.00%. Duke Energy Corporation’s dividend payout ratio is presently 117.49%.

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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