Great Lakes Advisors LLC Makes New $5.67 Million Investment in Duke Energy Corporation $DUK

Great Lakes Advisors LLC acquired a new stake in Duke Energy Corporation (NYSE:DUK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 44,818 shares of the utilities provider’s stock, valued at approximately $5,673,000.

Other hedge funds also recently made changes to their positions in the company. Foster & Motley Inc. acquired a new position in shares of Duke Energy during the second quarter worth $431,000. Trust Co. of Vermont acquired a new stake in Duke Energy during the 2nd quarter valued at $1,813,000. Old West Investment Management LLC purchased a new stake in Duke Energy during the 2nd quarter worth $211,000. Bank of New York Mellon Corp acquired a new position in Duke Energy in the 2nd quarter worth $605,680,000. Finally, Merit Financial Group LLC lifted its holdings in Duke Energy by 15.7% in the 2nd quarter. Merit Financial Group LLC now owns 70,388 shares of the utilities provider’s stock worth $8,910,000 after buying an additional 9,562 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

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Duke Energy Price Performance

Shares of DUK stock opened at $123.69 on Thursday. The firm has a fifty day moving average of $125.77 and a two-hundred day moving average of $126.66. The firm has a market cap of $96.44 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.89 and a beta of 0.38. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43.

Duke Energy (NYSE:DUK – Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be paid a dividend of $1.085 per share. The ex-dividend date is Friday, August 14th. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 annualized dividend and a yield of 3.5%. Duke Energy’s payout ratio is currently 65.17%.

Analyst Ratings Changes

Several analysts have recently weighed in on DUK shares. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research note on Friday, July 31st. BMO Capital Markets cut their price target on Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Barclays reduced their price target on Duke Energy from $140.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price objective on Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, BTIG Research restated a “buy” rating on shares of Duke Energy in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.25.

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About Duke Energy

(Free Report)

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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