Dearborn Partners LLC acquired a new position in Duke Energy Corporation (NYSE:DUK – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,103 shares of the utilities provider’s stock, valued at approximately $1,192,000.
Other large investors also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. boosted its stake in shares of Duke Energy by 1.2% in the second quarter. Ables Iannone Moore & Associates Inc. now owns 6,623 shares of the utilities provider’s stock worth $838,000 after acquiring an additional 80 shares during the last quarter. Sharp Wealth Advisory LLC lifted its holdings in Duke Energy by 4.5% in the 1st quarter. Sharp Wealth Advisory LLC now owns 1,876 shares of the utilities provider’s stock valued at $246,000 after purchasing an additional 81 shares in the last quarter. Absher Wealth Management LLC boosted its stake in Duke Energy by 2.3% during the 1st quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 81 shares during the last quarter. A4 Wealth Advisors LLC grew its holdings in shares of Duke Energy by 3.3% during the fourth quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider’s stock worth $304,000 after buying an additional 82 shares in the last quarter. Finally, Elm Partners Management LLC raised its position in shares of Duke Energy by 0.9% in the fourth quarter. Elm Partners Management LLC now owns 9,254 shares of the utilities provider’s stock valued at $1,085,000 after buying an additional 83 shares during the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.
Duke Energy Stock Up 1.8%
DUK stock opened at $121.96 on Tuesday. The firm has a market cap of $95.09 billion, a PE ratio of 18.31, a PEG ratio of 2.80 and a beta of 0.38. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66. The firm’s 50 day moving average price is $125.58 and its 200-day moving average price is $126.67. Duke Energy Corporation has a one year low of $113.89 and a one year high of $134.49.
Duke Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a dividend of $1.085 per share. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s dividend payout ratio is 65.17%.
Analyst Ratings Changes
Several analysts recently issued reports on DUK shares. Jefferies Financial Group dropped their price objective on shares of Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. KeyCorp upgraded Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 price target for the company in a research report on Thursday, July 23rd. BMO Capital Markets reduced their price objective on Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upped their target price on Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Evercore lifted their price target on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Duke Energy has a consensus rating of “Moderate Buy” and an average target price of $137.94.
Read Our Latest Stock Report on DUK
Duke Energy Company Profile
Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.
Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.
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