Core Capital Management & Research inc. Acquires New Shares in Duke Energy Corporation $DUK

Core Capital Management & Research inc. bought a new position in Duke Energy Corporation (NYSE:DUK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,146 shares of the utilities provider’s stock, valued at approximately $857,000.

Other institutional investors have also made changes to their positions in the company. Basso Capital Management L.P. acquired a new stake in Duke Energy in the fourth quarter valued at approximately $25,000. Evolution Wealth Management Inc. lifted its stake in shares of Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Triumph Capital Management boosted its holdings in Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 94 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in Duke Energy during the fourth quarter valued at about $28,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of Duke Energy in the fourth quarter worth about $33,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.7%

Shares of DUK stock opened at $120.44 on Thursday. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. The firm has a market cap of $93.91 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.83 and a beta of 0.37. The stock has a 50 day moving average of $124.38 and a 200-day moving average of $126.32.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.66 billion. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. Duke Energy’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. On average, equities analysts predict that Duke Energy Corporation will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a dividend of $1.085 per share. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. 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. Duke Energy’s dividend payout ratio (DPR) is currently 65.17%.

Analyst Ratings Changes

DUK has been the topic of a number of recent analyst reports. KeyCorp raised Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 price objective on the stock in a research note on Thursday, July 23rd. BTIG Research reissued a “buy” rating on shares of Duke Energy in a research report on Thursday, July 23rd. Mizuho set a $136.00 price objective on shares of Duke Energy in a report on Wednesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research note on Friday, July 31st. Finally, Truist Financial dropped their target price on shares of Duke Energy from $138.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

Duke Energy Profile

Duke Energy Corporation is an electric and natural gas utility holding company headquartered in Charlotte, North Carolina. The company generates, transmits, distributes and sells electricity, with a generation portfolio that includes natural gas, nuclear, coal, hydroelectric and renewable energy resources. It also operates natural gas distribution businesses and provides related energy services.

Duke Energy’s regulated electric utilities serve residential, commercial and industrial customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.