Bruderman Asset Management LLC Decreases Holdings in Duke Energy Corporation (DUK)
Bruderman Asset Management LLC cut its stake in shares of Duke Energy Corporation (NYSE:DUK) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,235 shares of the utilities provider’s stock after selling 1,255 shares during the period. Duke Energy Corporation comprises approximately 1.3% of Bruderman Asset Management LLC’s holdings, making the stock its 25th largest position. Bruderman Asset Management LLC’s holdings in Duke Energy Corporation were worth $4,868,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Advisory Service Inc. raised its stake in Duke Energy Corporation by 0.3% during the 2nd quarter. Financial Advisory Service Inc. now owns 6,722 shares of the utilities provider’s stock valued at $562,000 after buying an additional 17 shares during the last quarter. Valley National Advisers Inc. raised its stake in Duke Energy Corporation by 0.7% during the 1st quarter. Valley National Advisers Inc. now owns 2,671 shares of the utilities provider’s stock valued at $219,000 after buying an additional 18 shares during the last quarter. Accredited Investors Inc. raised its stake in Duke Energy Corporation by 0.7% during the 1st quarter. Accredited Investors Inc. now owns 2,787 shares of the utilities provider’s stock valued at $229,000 after buying an additional 19 shares during the last quarter. Hayek Kallen Investment Management raised its stake in Duke Energy Corporation by 0.5% during the 1st quarter. Hayek Kallen Investment Management now owns 3,958 shares of the utilities provider’s stock valued at $325,000 after buying an additional 19 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its stake in Duke Energy Corporation by 0.3% during the 2nd quarter. Hodges Capital Management Inc. now owns 7,105 shares of the utilities provider’s stock valued at $594,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 56.21% of the company’s stock.
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Shares of Duke Energy Corporation (NYSE:DUK) opened at 88.31 on Wednesday. Duke Energy Corporation has a 52 week low of $72.34 and a 52 week high of $88.64. The firm has a 50-day moving average price of $86.18 and a 200-day moving average price of $85.27. The stock has a market cap of $61.81 billion, a price-to-earnings ratio of 26.16 and a beta of 0.24.
Duke Energy Corporation (NYSE:DUK) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, meeting 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 company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the company earned $1.07 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Duke Energy Corporation will post $4.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Shareholders 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 dividend on an annualized basis and a yield of 4.03%. Duke Energy Corporation’s payout ratio is 105.64%.
In other Duke Energy Corporation news, EVP Douglas F. Esamann sold 5,000 shares of Duke Energy Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $86.22, for a total value of $431,100.00. Following the completion of the transaction, the executive vice president now owns 50,316 shares of the company’s stock, valued at $4,338,245.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by insiders.
Several research firms have recently commented on DUK. Zacks Investment Research upgraded Duke Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub upgraded Duke Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Bank of America Corporation restated a “neutral” rating and issued a $92.00 price objective on shares of Duke Energy Corporation in a research note on Tuesday, October 24th. SunTrust Banks, Inc. restated a “hold” rating and issued a $88.00 price objective on shares of Duke Energy Corporation in a research note on Thursday, October 12th. Finally, Morgan Stanley upped their price objective on Duke Energy Corporation from $89.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $86.25.
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.
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