Goodman Advisory Group LLC Buys New Position in Duke Energy Co. (NYSE:DUK)

Goodman Advisory Group LLC purchased a new position in Duke Energy Co. (NYSE:DUK) in the second quarter, HoldingsChannel reports. The firm purchased 28,815 shares of the utilities provider’s stock, valued at approximately $2,888,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in shares of Duke Energy by 65.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock worth $205,769,000 after purchasing an additional 813,744 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in Duke Energy by 9,923.0% during the second quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock worth $77,103,000 after buying an additional 761,590 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Duke Energy by 4.8% in the fourth quarter. Capital Research Global Investors now owns 11,141,020 shares of the utilities provider’s stock valued at $1,081,125,000 after buying an additional 509,039 shares in the last quarter. Morningstar Investment Services LLC lifted its position in shares of Duke Energy by 96.1% during the 4th quarter. Morningstar Investment Services LLC now owns 789,612 shares of the utilities provider’s stock valued at $76,529,000 after acquiring an additional 387,038 shares during the last quarter. Finally, BROOKFIELD Corp ON bought a new stake in shares of Duke Energy during the 1st quarter worth $36,278,000. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Up 0.7 %

Shares of Duke Energy stock opened at $115.94 on Friday. Duke Energy Co. has a 12-month low of $83.06 and a 12-month high of $118.31. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The stock has a 50 day moving average price of $113.50 and a two-hundred day moving average price of $104.58. The stock has a market capitalization of $89.48 billion, a P/E ratio of 29.13, a PEG ratio of 3.22 and a beta of 0.47.

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

Duke Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DUK. Bank of America lifted their price target on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their target price on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday. KeyCorp upped their price target on shares of Duke Energy from $117.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on Duke Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $138.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.79.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the sale, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

About Duke Energy

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.