Profund Advisors LLC Has $4.27 Million Stake in Duke Energy Co. (NYSE:DUK)

Profund Advisors LLC grew its holdings in shares of Duke Energy Co. (NYSE:DUK) by 48.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,617 shares of the utilities provider’s stock after acquiring an additional 13,846 shares during the quarter. Profund Advisors LLC’s holdings in Duke Energy were worth $4,272,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pinnacle West Asset Management Inc. increased its stake in shares of Duke Energy by 2.1% in the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock valued at $444,000 after buying an additional 90 shares during the period. Sachetta LLC increased its stake in shares of Duke Energy by 41.9% in the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after buying an additional 96 shares during the period. SeaCrest Wealth Management LLC increased its stake in shares of Duke Energy by 1.6% in the second quarter. SeaCrest Wealth Management LLC now owns 6,093 shares of the utilities provider’s stock valued at $611,000 after buying an additional 98 shares during the period. Waddell & Associates LLC increased its stake in shares of Duke Energy by 2.7% in the second quarter. Waddell & Associates LLC now owns 3,753 shares of the utilities provider’s stock valued at $376,000 after buying an additional 99 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake in shares of Duke Energy by 4.9% in the second quarter. Indiana Trust & Investment Management CO now owns 2,147 shares of the utilities provider’s stock valued at $215,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Up 1.1 %

Shares of NYSE:DUK opened at $116.37 on Friday. The firm has a market cap of $89.81 billion, a P/E ratio of 29.24, a PEG ratio of 3.19 and a beta of 0.47. Duke Energy Co. has a 52-week low of $83.06 and a 52-week high of $118.31. The business’s 50 day simple moving average is $112.55 and its two-hundred day simple moving average is $103.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81.

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

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a $1.045 dividend. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, August 16th. This represents a $4.18 annualized dividend and a yield of 3.59%. Duke Energy’s dividend payout ratio (DPR) is presently 105.03%.

Analyst Ratings Changes

DUK has been the subject of several recent research reports. Morgan Stanley upped their price objective on Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Bank of America upped their target price on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Evercore ISI upped their target price on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on Duke Energy in a report on Thursday. They issued a “buy” rating and a $138.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.36.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the firm’s 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 can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

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.