NuWave Investment Management LLC purchased a new stake in Duke Energy Corp (NYSE:DUK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,161 shares of the utilities provider’s stock, valued at approximately $98,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Successful Portfolios LLC boosted its holdings in shares of Duke Energy by 1.5% during the 2nd quarter. Successful Portfolios LLC now owns 18,477 shares of the utilities provider’s stock valued at $1,476,000 after acquiring an additional 275 shares in the last quarter. Guardian Investment Management raised its position in Duke Energy by 20.8% in the second quarter. Guardian Investment Management now owns 20,558 shares of the utilities provider’s stock valued at $1,642,000 after purchasing an additional 3,536 shares during the last quarter. Alpha Windward LLC acquired a new stake in shares of Duke Energy during the second quarter valued at about $358,000. City Holding Co. grew its holdings in shares of Duke Energy by 3.7% during the second quarter. City Holding Co. now owns 30,334 shares of the utilities provider’s stock worth $2,423,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Cordasco Financial Network grew its holdings in shares of Duke Energy by 10.6% during the second quarter. Cordasco Financial Network now owns 10,054 shares of the utilities provider’s stock worth $803,000 after purchasing an additional 960 shares during the last quarter. Institutional investors own 64.03% of the company’s stock.
Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Duke Energy from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Morgan Stanley lifted their price target on shares of Duke Energy from $87.00 to $89.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 17th. Wells Fargo & Co decreased their price objective on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th. Bank of America reaffirmed a “neutral” rating and set a $83.00 target price (down from $93.00) on shares of Duke Energy in a research report on Wednesday, May 13th. Finally, Barclays cut their target price on Duke Energy from $104.00 to $79.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $93.43.
Duke Energy stock opened at $81.39 on Tuesday. The firm has a market capitalization of $59.76 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 3.60 and a beta of 0.31. The firm’s fifty day moving average price is $84.12 and its two-hundred day moving average price is $87.95. Duke Energy Corp has a 1-year low of $62.13 and a 1-year high of $103.79. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.25.
Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, May 12th. The utilities provider reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.05). The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6.24 billion. Duke Energy had a return on equity of 8.13% and a net margin of 15.17%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. On average, research analysts forecast that Duke Energy Corp will post 5.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be issued a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Thursday, August 13th. This is a positive change from Duke Energy’s previous quarterly dividend of $0.95. Duke Energy’s dividend payout ratio (DPR) is currently 74.70%.
Duke Energy Profile
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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