BlackRock Inc. Has $4.17 Billion Position in Duke Energy Corp (DUK)

BlackRock Inc. boosted its position in Duke Energy Corp (NYSE:DUK) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 48,270,073 shares of the utilities provider’s stock after buying an additional 1,226,657 shares during the period. BlackRock Inc. owned approximately 0.07% of Duke Energy worth $4,165,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Morgan Stanley boosted its position in shares of Duke Energy by 13.8% during the 3rd quarter. Morgan Stanley now owns 3,792,774 shares of the utilities provider’s stock worth $303,498,000 after purchasing an additional 460,092 shares in the last quarter. First Mercantile Trust Co. boosted its position in shares of Duke Energy by 69.4% during the 4th quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock worth $91,000 after purchasing an additional 430 shares in the last quarter. Union Bankshares Corp boosted its position in shares of Duke Energy by 43.4% during the 4th quarter. Union Bankshares Corp now owns 8,386 shares of the utilities provider’s stock worth $724,000 after purchasing an additional 2,536 shares in the last quarter. Putnam Investments LLC boosted its position in shares of Duke Energy by 0.9% during the 3rd quarter. Putnam Investments LLC now owns 259,153 shares of the utilities provider’s stock worth $20,737,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of Duke Energy by 172.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,182 shares of the utilities provider’s stock worth $188,000 after purchasing an additional 1,381 shares in the last quarter. Hedge funds and other institutional investors own 60.38% of the company’s stock.

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In related news, COO Dhiaa M. Jamil sold 750 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $89.75, for a total value of $67,312.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melissa H. Anderson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $87.49, for a total transaction of $174,980.00. Following the completion of the transaction, the executive vice president now directly owns 18,198 shares of the company’s stock, valued at approximately $1,592,143.02. The disclosure for this sale can be found here. Insiders sold a total of 6,250 shares of company stock valued at $552,078 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

DUK has been the subject of several research reports. Zacks Investment Research downgraded Duke Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Morgan Stanley lifted their price target on Duke Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 12th. Wells Fargo & Co cut their price target on Duke Energy from $89.00 to $88.00 and set a “market perform” rating for the company in a research note on Monday, November 5th. Credit Suisse Group downgraded Duke Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, February 15th. Finally, ValuEngine raised Duke Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.15.

Shares of DUK stock opened at $89.53 on Friday. Duke Energy Corp has a twelve month low of $71.96 and a twelve month high of $91.35. The stock has a market capitalization of $64.09 billion, a P/E ratio of 18.97, a PEG ratio of 3.56 and a beta of 0.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, February 14th. The utilities provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.05). Duke Energy had a net margin of 10.87% and a return on equity of 7.80%. The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts expect that Duke Energy Corp will post 4.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Friday, February 15th will be paid a $0.9275 dividend. This represents a $3.71 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Thursday, February 14th. Duke Energy’s payout ratio is 78.60%.

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Duke Energy Company Profile

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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