Essex Savings Bank lessened its position in shares of Duke Energy Corp (NYSE:DUK) by 4.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,174 shares of the utilities provider’s stock after selling 259 shares during the quarter. Essex Savings Bank’s holdings in Duke Energy were worth $413,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DUK. Watson Rebecca purchased a new stake in Duke Energy in the second quarter valued at approximately $26,000. Vigilant Capital Management LLC acquired a new position in shares of Duke Energy in the 2nd quarter valued at $28,000. Pathstone Family Office LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at $29,000. TRUE Private Wealth Advisors raised its position in Duke Energy by 127.1% in the 1st quarter. TRUE Private Wealth Advisors now owns 402 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 225 shares during the last quarter. Finally, Burt Wealth Advisors boosted its stake in Duke Energy by 32.6% during the 1st quarter. Burt Wealth Advisors now owns 533 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 131 shares during the period. 64.03% of the stock is currently owned by institutional investors.
DUK stock traded up $0.17 during trading on Friday, reaching $84.74. 3,292,473 shares of the company were exchanged, compared to its average volume of 3,430,067. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.45 and a current ratio of 0.67. The stock’s 50 day moving average price is $82.48 and its 200 day moving average price is $87.23. Duke Energy Corp has a 52-week low of $62.13 and a 52-week high of $103.79. The company has a market cap of $62.15 billion, a P/E ratio of 16.75, a PEG ratio of 3.86 and a beta of 0.31.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be issued a dividend of $0.965 per share. The ex-dividend date of this dividend is Thursday, August 13th. This is a boost from Duke Energy’s previous quarterly dividend of $0.95. This represents a $3.86 annualized dividend and a yield of 4.56%. Duke Energy’s payout ratio is currently 74.70%.
DUK has been the subject of a number of research reports. Bank of America reaffirmed a “neutral” rating and issued a $83.00 target price (down from $93.00) on shares of Duke Energy in a report on Wednesday, May 13th. UBS Group reduced their price objective on Duke Energy from $113.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wells Fargo & Co lowered their target price on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Seaport Global Securities began coverage on Duke Energy in a report on Tuesday, June 9th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley increased their price target on Duke Energy from $89.00 to $96.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $93.93.
In other news, SVP Harry K. Sideris sold 1,285 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $80.42, for a total transaction of $103,339.70. Following the completion of the transaction, the senior vice president now directly owns 5,396 shares of the company’s stock, valued at approximately $433,946.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Dwight L. Jacobs sold 1,500 shares of Duke Energy stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $84.11, for a total value of $126,165.00. Following the transaction, the senior vice president now owns 5,191 shares of the company’s stock, valued at $436,615.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,557 shares of company stock worth $292,856. 0.11% of the stock is owned by company insiders.
Duke Energy Profile
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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