Duke Energy Co. (NYSE:DUK) Stock Position Lifted by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in Duke Energy Co. (NYSE:DUK) by 34.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 550,332 shares of the utilities provider’s stock after buying an additional 142,346 shares during the quarter. AQR Capital Management LLC’s holdings in Duke Energy were worth $55,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of Duke Energy in the first quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its stake in Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 119 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Duke Energy during the 1st quarter valued at $30,000. Olistico Wealth LLC bought a new stake in shares of Duke Energy in the 2nd quarter worth $30,000. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Duke Energy by 101.2% in the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after buying an additional 169 shares during the period. Institutional investors own 65.31% of the company’s stock.

Analyst Ratings Changes

DUK has been the topic of several research reports. Evercore ISI boosted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price for the company. Bank of America upped their price target on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Scotiabank raised their price objective on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Barclays boosted their target price on Duke Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.79.

Duke Energy Price Performance

Shares of DUK opened at $115.94 on Friday. The business’s 50-day moving average is $113.50 and its 200-day moving average is $104.58. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. The company has a market capitalization of $89.48 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 3.22 and a beta of 0.47. Duke Energy Co. has a fifty-two week low of $83.06 and a fifty-two week high of $118.31.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a $1.045 dividend. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Friday, August 16th. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.10% of the company’s stock.

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.