Lockheed Martin Investment Management Co. Decreases Holdings in Duke Energy Co. (NYSE:DUK)

Lockheed Martin Investment Management Co. reduced its stake in Duke Energy Co. (NYSE:DUKGet Rating) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,940 shares of the utilities provider’s stock after selling 27,500 shares during the period. Duke Energy comprises 1.2% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 19th largest position. Lockheed Martin Investment Management Co.’s holdings in Duke Energy were worth $17,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. increased its stake in shares of Duke Energy by 11.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 21,673 shares of the utilities provider’s stock valued at $2,324,000 after buying an additional 2,223 shares during the period. MAI Capital Management increased its stake in shares of Duke Energy by 39.1% during the second quarter. MAI Capital Management now owns 15,291 shares of the utilities provider’s stock valued at $1,639,000 after buying an additional 4,295 shares during the period. Equitable Trust Co. increased its stake in shares of Duke Energy by 24.8% during the second quarter. Equitable Trust Co. now owns 6,666 shares of the utilities provider’s stock valued at $715,000 after buying an additional 1,324 shares during the period. StoneX Group Inc. purchased a new position in shares of Duke Energy during the second quarter valued at approximately $906,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Duke Energy by 1.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 252,054 shares of the utilities provider’s stock valued at $28,144,000 after buying an additional 3,321 shares during the period. 63.76% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

DUK traded up $0.86 during midday trading on Thursday, reaching $98.54. The company had a trading volume of 2,726,141 shares, compared to its average volume of 3,436,320. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average of $94.87 and a two-hundred day moving average of $103.57. The company has a market cap of $75.88 billion, a P/E ratio of 19.87, a P/E/G ratio of 3.38 and a beta of 0.40. Duke Energy Co. has a 1 year low of $83.76 and a 1 year high of $116.33.

Duke Energy (NYSE:DUKGet Rating) last issued its quarterly earnings results on Friday, November 4th. The utilities provider reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Duke Energy had a return on equity of 8.24% and a net margin of 14.03%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 EPS. As a group, equities research analysts predict that Duke Energy Co. will post 5.29 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 18th will be issued a $1.005 dividend. The ex-dividend date is Thursday, November 17th. This represents a $4.02 dividend on an annualized basis and a yield of 4.08%. Duke Energy’s dividend payout ratio is presently 81.05%.

Insider Buying and Selling

In related news, EVP Steven K. Young sold 415 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $93.57, for a total value of $38,831.55. Following the transaction, the executive vice president now directly owns 112,412 shares of the company’s stock, valued at approximately $10,518,390.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Seaport Res Ptn cut Duke Energy from a “neutral” rating to a “sell” rating in a research note on Monday. Morgan Stanley boosted their target price on Duke Energy from $99.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, November 11th. Wells Fargo & Company dropped their target price on Duke Energy from $120.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. Credit Suisse Group dropped their target price on Duke Energy from $114.00 to $94.00 and set a “neutral” rating on the stock in a report on Wednesday, October 12th. Finally, BMO Capital Markets upped their price target on Duke Energy from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Monday, November 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $105.09.

About Duke Energy

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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; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

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

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