Tectonic Advisors LLC Buys 6,146 Shares of Duke Energy Corporation $DUK

Tectonic Advisors LLC grew its stake in Duke Energy Corporation (NYSE:DUK) by 8.4% in the third quarter, HoldingsChannel reports. The fund owned 79,069 shares of the utilities provider’s stock after acquiring an additional 6,146 shares during the period. Tectonic Advisors LLC’s holdings in Duke Energy were worth $9,785,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new position in Duke Energy in the 2nd quarter worth approximately $28,000. Mascoma Wealth Management LLC boosted its position in Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock valued at $29,000 after buying an additional 87 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of Duke Energy in the 2nd quarter valued at $31,000. Trifecta Capital Advisors LLC raised its position in shares of Duke Energy by 2,284.6% during the second quarter. Trifecta Capital Advisors LLC now owns 310 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 297 shares during the last quarter. Finally, Anfield Capital Management LLC lifted its stake in shares of Duke Energy by 2,608.3% during the second quarter. Anfield Capital Management LLC now owns 325 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 313 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.3%

Shares of NYSE DUK opened at $117.27 on Friday. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $130.03. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.40 and a current ratio of 0.63. The stock has a market cap of $91.20 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.70 and a beta of 0.50. The firm has a 50 day moving average price of $120.55 and a 200 day moving average price of $121.23.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same period last year, the firm posted $1.62 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts expect that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th were paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, November 14th. Duke Energy’s payout ratio is presently 66.98%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DUK. BTIG Research upgraded Duke Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group raised their target price on shares of Duke Energy from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Barclays boosted their price target on shares of Duke Energy from $131.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. UBS Group reduced their price objective on shares of Duke Energy from $135.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company upgraded shares of Duke Energy to a “hold” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.50.

Insider Activity

In other news, EVP Robert Alexander Glenn sold 8,200 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $123.80, for a total transaction of $1,015,160.00. Following the sale, the executive vice president owned 11,367 shares of the company’s stock, valued at $1,407,234.60. This trade represents a 41.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Duke Energy 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.