Invst LLC Takes Position in Duke Energy Co. (NYSE:DUK)

Invst LLC bought a new stake in Duke Energy Co. (NYSE:DUK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,164 shares of the utilities provider’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DUK. Mackenzie Financial Corp raised its holdings in Duke Energy by 65.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock valued at $205,769,000 after acquiring an additional 813,744 shares during the period. Wulff Hansen & CO. raised its holdings in Duke Energy by 9,923.0% in the 2nd quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock valued at $77,103,000 after acquiring an additional 761,590 shares during the period. Capital Research Global Investors raised its holdings in Duke Energy by 4.8% in the 4th quarter. Capital Research Global Investors now owns 11,141,020 shares of the utilities provider’s stock valued at $1,081,125,000 after acquiring an additional 509,039 shares during the period. Morningstar Investment Services LLC raised its holdings in Duke Energy by 96.1% in 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 period. Finally, BROOKFIELD Corp ON bought a new position in Duke Energy in the 1st quarter valued at about $36,278,000. 65.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DUK shares. Bank of America increased their price target on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. 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 on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. Morgan Stanley raised their target price on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets raised their target price on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.07.

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 that occurred 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 owns 19,884 shares in the company, valued at $2,259,617.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Duke Energy Stock Performance

NYSE DUK opened at $115.30 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $88.98 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 3.22 and a beta of 0.47. The firm’s 50 day simple moving average is $113.65 and its 200 day simple moving average is $104.85. Duke Energy Co. has a 1 year low of $83.06 and a 1 year high of $118.31.

Duke Energy (NYSE:DUK) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, beating 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 firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business 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. The ex-dividend date was Friday, August 16th. This represents a $4.18 dividend on an annualized basis and a yield of 3.63%. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio (DPR) is currently 105.03%.

Duke Energy 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.