Legg Mason Asset Management Japan Co. Ltd. Cuts Stake in Duke Energy Corp (DUK)

Legg Mason Asset Management Japan Co. Ltd. lowered its holdings in Duke Energy Corp (NYSE:DUK) by 27.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,200 shares of the utilities provider’s stock after selling 3,100 shares during the quarter. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Duke Energy were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley increased its stake in shares of Duke Energy by 13.8% in the third quarter. Morgan Stanley now owns 3,792,774 shares of the utilities provider’s stock worth $303,498,000 after acquiring an additional 460,092 shares during the period. First Mercantile Trust Co. grew its position in Duke Energy by 69.4% during the fourth quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock valued at $91,000 after buying an additional 430 shares during the period. Union Bankshares Corp grew its position in Duke Energy by 43.4% during the fourth quarter. Union Bankshares Corp now owns 8,386 shares of the utilities provider’s stock valued at $724,000 after buying an additional 2,536 shares during the period. Putnam Investments LLC grew its position in Duke Energy by 0.9% during the third quarter. Putnam Investments LLC now owns 259,153 shares of the utilities provider’s stock valued at $20,737,000 after buying an additional 2,344 shares during the period. Finally, First National Bank of Omaha grew its position in Duke Energy by 0.8% during the fourth quarter. First National Bank of Omaha now owns 54,166 shares of the utilities provider’s stock valued at $4,675,000 after buying an additional 430 shares during the period. Hedge funds and other institutional investors own 61.97% of the company’s stock.

DUK opened at $90.65 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.44 and a debt-to-equity ratio of 1.17. The firm has a market cap of $65.90 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 3.64 and a beta of 0.06. Duke Energy Corp has a 52-week low of $71.96 and a 52-week high of $91.35.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Thursday, February 14th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.05). The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Duke Energy had a net margin of 10.87% and a return on equity of 7.80%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. On average, research analysts anticipate that Duke Energy Corp will post 4.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Shareholders of record on Friday, February 15th will be issued a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a yield of 4.09%. The ex-dividend date is Thursday, February 14th. Duke Energy’s payout ratio is 78.60%.

Several analysts recently commented on DUK shares. Barclays raised their price target on shares of Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Monday, November 19th. ValuEngine upgraded shares of Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Zacks Investment Research upgraded shares of Duke Energy from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 12th. Bank of America lowered shares of Duke Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $88.00 to $87.00 in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Morgan Stanley raised their price target on shares of Duke Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $85.08.

In other Duke Energy news, EVP Lloyd M. Yates sold 3,500 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $88.51, for a total transaction of $309,785.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa H. Anderson sold 2,000 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $87.49, for a total transaction of $174,980.00. Following the transaction, the executive vice president now directly owns 18,198 shares in the company, valued at $1,592,143.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,250 shares of company stock worth $1,900,878. Insiders own 0.08% of the company’s stock.

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About Duke Energy

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; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

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

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