Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Duke Energy Co. (NYSE:DUK)

Northwestern Mutual Wealth Management Co. grew its stake in Duke Energy Co. (NYSE:DUK) by 2.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 135,637 shares of the utilities provider’s stock after purchasing an additional 3,115 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Duke Energy were worth $13,595,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DUK. Northwest Investment Counselors LLC acquired a new position in Duke Energy during the first quarter worth approximately $25,000. Fortitude Family Office LLC increased its holdings in shares of Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Riverview Trust Co purchased a new stake in Duke Energy in the 1st quarter valued at $30,000. Olistico Wealth LLC acquired a new stake in Duke Energy during the 2nd quarter worth $30,000. Finally, Cedar Wealth Management LLC grew its position in Duke Energy by 101.2% during the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 169 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Trading Up 0.8 %

Shares of DUK opened at $116.22 on Wednesday. Duke Energy Co. has a twelve month low of $83.06 and a twelve month high of $118.31. 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 $89.69 billion, a P/E ratio of 29.20, a PEG ratio of 3.22 and a beta of 0.47. The firm’s 50-day moving average is $113.83 and its two-hundred day moving average is $105.00.

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

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s payout ratio is 105.03%.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the transaction, 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 SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DUK shares. Barclays increased their target price on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a research note on Thursday, August 29th. Bank of America lifted their price objective on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Evercore ISI upped their price objective 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. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $118.21.

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.