Great Lakes Advisors LLC lessened its position in shares of Duke Energy Co. (NYSE:DUK – Free Report) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,097,471 shares of the utilities provider’s stock after selling 71,792 shares during the quarter. Duke Energy comprises about 1.0% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 24th largest position. Great Lakes Advisors LLC’s holdings in Duke Energy were worth $110,000,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in DUK. Northwest Investment Counselors LLC bought a new position in Duke Energy during the first quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in Duke Energy during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC raised its holdings in Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Olistico Wealth LLC bought a new position in shares of Duke Energy during the second quarter worth $30,000. Finally, Riverview Trust Co acquired a new position in shares of Duke Energy in the 1st quarter valued at $30,000. Institutional investors own 65.31% of the company’s stock.
Duke Energy Stock Performance
DUK stock traded down $0.25 during midday trading on Friday, reaching $116.60. 3,482,508 shares of the company were exchanged, compared to its average volume of 2,953,683. The firm has a market capitalization of $89.99 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.13 and a beta of 0.47. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. The business has a 50-day moving average price of $109.51 and a two-hundred day moving average price of $102.10. Duke Energy Co. has a one year low of $83.06 and a one year high of $118.11.
Duke Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s payout ratio is 105.03%.
Insider Transactions at Duke Energy
In related news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the sale, the executive vice president now owns 19,884 shares in the company, valued at approximately $2,259,617.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on DUK. Barclays lifted their target price on Duke Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Morgan Stanley boosted their price objective on Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Scotiabank boosted their price objective on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $113.92.
Check Out Our Latest Research Report on Duke Energy
Duke Energy Company Profile
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.
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