FormulaFolio Investments LLC Sells 782 Shares of Duke Energy Corporation (DUK)

FormulaFolio Investments LLC Sells 782 Shares of Duke Energy Corporation (DUK)

FormulaFolio Investments LLC cut its stake in Duke Energy Corporation (NYSE:DUK) by 1.6% during the third quarter, Holdings Channel reports. The institutional investor owned 49,591 shares of the company’s stock after selling 782 shares during the period. Duke Energy Corporation makes up 0.6% of FormulaFolio Investments LLC’s investment portfolio, making the stock its 24th largest position. FormulaFolio Investments LLC’s holdings in Duke Energy Corporation were worth $3,969,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DUK. BlackRock Fund Advisors raised its position in shares of Duke Energy Corporation by 18.4% in the second quarter. BlackRock Fund Advisors now owns 12,910,189 shares of the company’s stock worth $1,107,565,000 after buying an additional 2,003,471 shares during the period. Capital Research Global Investors raised its position in shares of Duke Energy Corporation by 7.9% in the second quarter. Capital Research Global Investors now owns 12,679,773 shares of the company’s stock worth $1,087,798,000 after buying an additional 929,411 shares during the period. Capital World Investors raised its position in shares of Duke Energy Corporation by 7.4% in the second quarter. Capital World Investors now owns 10,874,999 shares of the company’s stock worth $932,966,000 after buying an additional 750,000 shares during the period. BlackRock Group LTD raised its position in shares of Duke Energy Corporation by 2.6% in the second quarter. BlackRock Group LTD now owns 5,914,508 shares of the company’s stock worth $507,405,000 after buying an additional 148,692 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Duke Energy Corporation by 4.2% in the second quarter. Legal & General Group Plc now owns 4,561,055 shares of the company’s stock worth $391,180,000 after buying an additional 182,356 shares during the period. 57.08% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Corporation (NYSE:DUK) opened at 77.65 on Friday. The company has a 50 day moving average price of $77.35 and a 200-day moving average price of $78.87. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $87.75. The firm has a market cap of $53.50 billion, a price-to-earnings ratio of 18.78 and a beta of 0.14.

Duke Energy Corporation (NYSE:DUK) last announced its quarterly earnings results on Friday, November 4th. The company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.10. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $3.09 billion. Duke Energy Corporation had a return on equity of 8.20% and a net margin of 12.27%. Duke Energy Corporation’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 EPS. Equities research analysts anticipate that Duke Energy Corporation will post $4.67 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Friday, February 17th will be paid a $0.855 dividend. This represents a $3.42 annualized dividend and a yield of 4.40%. The ex-dividend date is Wednesday, February 15th. Duke Energy Corporation’s dividend payout ratio is 82.61%.

A number of research analysts have recently commented on DUK shares. Vetr raised Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $80.10 price target on the stock in a report on Monday, January 30th. Credit Suisse Group started coverage on Duke Energy Corporation in a report on Wednesday, January 25th. They set a “neutral” rating and a $81.00 price target on the stock. Scotiabank reissued a “sector perform” rating and set a $83.00 price target (down from $88.00) on shares of Duke Energy Corporation in a report on Monday, November 7th. Howard Weil lowered their price target on Duke Energy Corporation from $88.00 to $83.00 and set a “sector perform” rating on the stock in a report on Monday, November 7th. Finally, Citigroup Inc. lowered Duke Energy Corporation from a “neutral” rating to a “sell” rating and set a $69.00 price target on the stock. in a report on Wednesday, January 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $79.55.

In related news, EVP Frank H. Yoho purchased 14,850 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were acquired at an average price of $74.00 per share, with a total value of $1,098,900.00. Following the purchase, the executive vice president now directly owns 23,687 shares in the company, valued at $1,752,838. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John H. Forsgren purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of $77.80 per share, for a total transaction of $77,800.00. Following the purchase, the director now owns 1,165 shares in the company, valued at $90,637. The disclosure for this purchase can be found here. 0.08% of the stock is owned by insiders.

About Duke Energy Corporation

Duke Energy Corporation (Duke Energy) is an energy company. The Company’s segments include Regulated Utilities, International Energy and Commercial Portfolio. Duke Energy’s subsidiaries include its subsidiary registrants: Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc (Progress Energy); Duke Energy Progress, LLC (Duke Energy Progress); Duke Energy Florida, LLC (Duke Energy Florida); Duke Energy Ohio, Inc (Duke Energy Ohio), and Duke Energy Indiana, Inc (Duke Energy Indiana).

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