Rockbridge Investment Management LCC purchased a new position in shares of Duke Energy Corp (NYSE:DUK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 644 shares of the utilities provider’s stock, valued at approximately $51,000.
Several other hedge funds also recently modified their holdings of DUK. Marshall Wace LLP purchased a new stake in shares of Duke Energy in the first quarter worth $79,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Duke Energy by 11.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 137,697 shares of the utilities provider’s stock valued at $11,137,000 after buying an additional 13,986 shares during the period. Homrich & Berg boosted its stake in shares of Duke Energy by 9.1% in the first quarter. Homrich & Berg now owns 13,194 shares of the utilities provider’s stock valued at $1,067,000 after buying an additional 1,104 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Duke Energy by 537.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 73,626 shares of the utilities provider’s stock valued at $5,955,000 after buying an additional 62,075 shares during the period. Finally, Mackay Shields LLC boosted its stake in shares of Duke Energy by 0.6% in the first quarter. Mackay Shields LLC now owns 128,410 shares of the utilities provider’s stock valued at $10,386,000 after buying an additional 754 shares during the period. Institutional investors own 63.79% of the company’s stock.
Several brokerages recently issued reports on DUK. Seaport Global Securities began coverage on Duke Energy in a research note on Tuesday, June 9th. They issued a “neutral” rating for the company. BofA Securities upgraded Duke Energy from a “neutral” rating to a “buy” rating and cut their price target for the company from $87.00 to $85.00 in a research note on Wednesday, September 9th. Wells Fargo & Company cut their price target on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Bank of America upgraded Duke Energy from a “neutral” rating to a “buy” rating and cut their price target for the company from $87.00 to $85.00 in a research note on Wednesday, September 9th. Finally, Morgan Stanley boosted their price objective on shares of Duke Energy from $89.00 to $96.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $93.47.
Shares of NYSE:DUK traded up $0.61 during trading on Wednesday, hitting $85.06. 48,912 shares of the company were exchanged, compared to its average volume of 3,873,046. The business’s 50 day moving average is $82.45 and its 200-day moving average is $83.93. The company has a market capitalization of $62.06 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 3.81 and a beta of 0.27. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.26. Duke Energy Corp has a 1-year low of $62.13 and a 1-year high of $103.79.
Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, August 10th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.86 billion. Duke Energy had a net margin of 8.76% and a return on equity of 8.10%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 earnings per share. As a group, sell-side analysts anticipate that Duke Energy Corp will post 5.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.965 per share. The ex-dividend date is Thursday, August 13th. This is an increase from Duke Energy’s previous quarterly dividend of $0.95. This represents a $3.86 annualized dividend and a dividend yield of 4.54%. Duke Energy’s dividend payout ratio is 76.28%.
About Duke Energy
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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