Crow Point Partners LLC Acquires Shares of 150,000 Duke Energy Corp (NYSE:DUK)
Crow Point Partners LLC acquired a new stake in shares of Duke Energy Corp (NYSE:DUK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,000 shares of the utilities provider’s stock, valued at approximately $14,417,000. Duke Energy accounts for approximately 2.1% of Crow Point Partners LLC’s investment portfolio, making the stock its 18th largest holding.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Duke Energy by 1.9% in the second quarter. Vanguard Group Inc. now owns 59,914,178 shares of the utilities provider’s stock worth $5,286,827,000 after acquiring an additional 1,102,963 shares during the period. BlackRock Inc. boosted its holdings in shares of Duke Energy by 1.8% in the second quarter. BlackRock Inc. now owns 50,433,503 shares of the utilities provider’s stock worth $4,450,250,000 after acquiring an additional 888,787 shares during the period. Invesco Ltd. boosted its holdings in shares of Duke Energy by 43.9% in the second quarter. Invesco Ltd. now owns 11,711,714 shares of the utilities provider’s stock worth $1,033,443,000 after acquiring an additional 3,574,870 shares during the period. Northern Trust Corp boosted its holdings in shares of Duke Energy by 6.1% in the second quarter. Northern Trust Corp now owns 9,852,985 shares of the utilities provider’s stock worth $869,427,000 after acquiring an additional 566,287 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Duke Energy by 3.2% in the second quarter. Renaissance Technologies LLC now owns 8,419,329 shares of the utilities provider’s stock worth $742,922,000 after acquiring an additional 263,100 shares during the period. 60.27% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on DUK shares. Barclays cut their price target on Duke Energy from $96.00 to $94.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. Morgan Stanley raised their price target on Duke Energy from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. ValuEngine lowered Duke Energy from a “buy” rating to a “hold” rating in a report on Friday, June 28th. SunTrust Banks set a $96.00 price target on Duke Energy and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Finally, Zacks Investment Research lowered Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 price target for the company. in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $92.78.
NYSE:DUK traded down $0.06 during trading hours on Wednesday, hitting $96.03. 2,298,506 shares of the company’s stock traded hands, compared to its average volume of 3,075,682. The firm has a market cap of $70.80 billion, a P/E ratio of 20.35, a P/E/G ratio of 3.98 and a beta of 0.09. Duke Energy Corp has a 52 week low of $79.01 and a 52 week high of $97.37. The business’s fifty day simple moving average is $94.14 and its two-hundred day simple moving average is $90.04. The company has a quick ratio of 0.47, a current ratio of 0.71 and a debt-to-equity ratio of 1.26.
Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.14. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.76 billion. Duke Energy had a return on equity of 8.02% and a net margin of 13.23%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share. On average, analysts expect that Duke Energy Corp will post 4.98 EPS for the current year.
About Duke Energy
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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