Kentucky Retirement Systems Insurance Trust Fund Cuts Holdings in Duke Energy Co. (NYSE:DUK)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Duke Energy Co. (NYSE:DUK) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,444 shares of the utilities provider’s stock after selling 2,013 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Duke Energy were worth $2,461,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DUK. Northwest Investment Counselors LLC purchased a new position in shares of Duke Energy during the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in shares of Duke Energy during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new position in shares of Duke Energy during the 4th quarter worth approximately $26,000. Riverview Trust Co purchased a new position in shares of Duke Energy during the 1st quarter worth approximately $30,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Duke Energy during the 4th quarter worth approximately $31,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Trading Up 0.4 %

Duke Energy stock traded up $0.47 during midday trading on Friday, reaching $108.03. The stock had a trading volume of 2,270,522 shares, compared to its average volume of 2,489,480. Duke Energy Co. has a twelve month low of $83.06 and a twelve month high of $110.02. The stock has a market capitalization of $83.37 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.50 and a current ratio of 0.78. The stock’s 50-day simple moving average is $102.79 and its 200 day simple moving average is $98.40.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. The company had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.31 billion. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a $1.045 dividend. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.87%. Duke Energy’s payout ratio is 103.02%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DUK. Scotiabank cut their target price on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Mizuho upped their price target on Duke Energy from $89.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Bank of America upped their price target on Duke Energy from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. KeyCorp upped their price target on Duke Energy from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets dropped their price target on Duke Energy from $110.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.58.

Insider Buying and Selling

In related news, CEO Lynn J. Good sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total value of $1,549,500.00. Following the transaction, the chief executive officer now owns 437,464 shares in the company, valued at $45,190,031.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Julia S. Janson sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.79, for a total value of $1,027,900.00. Following the completion of the sale, the executive vice president now directly owns 68,657 shares of the company’s stock, valued at $7,057,253.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lynn J. Good sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total value of $1,549,500.00. Following the completion of the sale, the chief executive officer now directly owns 437,464 shares of the company’s stock, valued at $45,190,031.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,695 shares of company stock worth $2,750,815. 0.10% of the stock is currently owned by corporate insiders.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.