Redpoint Investment Management Pty Ltd Sells 93,223 Shares of Duke Energy Co. (NYSE:DUK)

Redpoint Investment Management Pty Ltd lowered its stake in Duke Energy Co. (NYSE:DUKGet Rating) by 84.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,266 shares of the utilities provider’s stock after selling 93,223 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Duke Energy were worth $1,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DUK. Assenagon Asset Management S.A. raised its stake in shares of Duke Energy by 118.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,819,760 shares of the utilities provider’s stock valued at $190,893,000 after acquiring an additional 984,905 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Duke Energy by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,149,388 shares of the utilities provider’s stock worth $749,973,000 after buying an additional 752,817 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Duke Energy in the 4th quarter valued at about $56,198,000. Qube Research & Technologies Ltd lifted its stake in shares of Duke Energy by 720.4% in the fourth quarter. Qube Research & Technologies Ltd now owns 544,960 shares of the utilities provider’s stock worth $57,166,000 after acquiring an additional 478,537 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Duke Energy in the fourth quarter valued at approximately $49,933,000. 62.35% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Steven K. Young sold 415 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $112.55, for a total value of $46,708.25. Following the transaction, the chief financial officer now owns 114,487 shares in the company, valued at $12,885,511.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

DUK stock traded up $1.35 during mid-day trading on Thursday, reaching $101.51. 10,362 shares of the company traded hands, compared to its average volume of 2,716,763. The stock has a market cap of $78.15 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 2.99 and a beta of 0.34. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 1.26. Duke Energy Co. has a fifty-two week low of $95.48 and a fifty-two week high of $116.33. The firm’s 50 day moving average price is $109.71 and its 200 day moving average price is $106.40.

Duke Energy (NYSE:DUKGet Rating) last released its quarterly earnings results on Monday, May 9th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). Duke Energy had a net margin of 14.47% and a return on equity of 8.52%. The company had revenue of $7.13 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same quarter last year, the firm posted $1.26 EPS. Duke Energy’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts anticipate that Duke Energy Co. will post 5.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Friday, May 13th were paid a $0.985 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $3.94 dividend on an annualized basis and a dividend yield of 3.88%. Duke Energy’s payout ratio is presently 82.77%.

Several research firms recently issued reports on DUK. Credit Suisse Group dropped their target price on shares of Duke Energy from $125.00 to $117.00 in a report on Tuesday, May 10th. KeyCorp upped their target price on Duke Energy from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Wells Fargo & Company boosted their price target on Duke Energy from $109.00 to $120.00 in a research note on Tuesday, May 10th. Morgan Stanley reduced their price objective on shares of Duke Energy from $123.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, May 23rd. Finally, Citigroup assumed coverage on shares of Duke Energy in a research report on Tuesday, March 22nd. They set a “buy” rating and a $120.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $112.55.

Duke Energy Profile (Get Rating)

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; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

See Also

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

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