Insight Wealth Partners LLC Buys New Position in Duke Energy Corporation $DUK

Insight Wealth Partners LLC purchased a new position in shares of Duke Energy Corporation (NYSE:DUK) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 4,813 shares of the utilities provider’s stock, valued at approximately $609,000.

Other large investors have also bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Duke Energy by 9.6% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,788 shares of the utilities provider’s stock valued at $606,000 after purchasing an additional 420 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in Duke Energy by 45.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 47,241 shares of the utilities provider’s stock valued at $5,980,000 after buying an additional 14,784 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Duke Energy by 3.4% during the 2nd quarter. RFG Advisory LLC now owns 11,978 shares of the utilities provider’s stock worth $1,516,000 after buying an additional 390 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of Duke Energy by 6.7% in the 2nd quarter. Baird Financial Group Inc. now owns 753,875 shares of the utilities provider’s stock worth $95,426,000 after buying an additional 47,537 shares during the last quarter. Finally, Stableford Capital II LLC increased its position in shares of Duke Energy by 6.6% during the second quarter. Stableford Capital II LLC now owns 9,149 shares of the utilities provider’s stock valued at $1,158,000 after acquiring an additional 570 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on DUK. KeyCorp upgraded Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 price objective for the company in a research note on Thursday, July 23rd. Truist Financial decreased their price objective on shares of Duke Energy from $138.00 to $135.00 and set a “buy” rating for the company in a report on Monday, August 17th. BTIG Research reiterated a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. BMO Capital Markets decreased their price target on shares of Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, August 5th. Finally, Barclays dropped their price objective on Duke Energy from $140.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and an average target price of $137.94.

Duke Energy Trading Up 0.9%

Shares of Duke Energy stock opened at $121.32 on Wednesday. The stock has a market capitalization of $94.59 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.80 and a beta of 0.37. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. 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 stock’s 50-day simple moving average is $124.48 and its 200 day simple moving average is $126.36.

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

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a dividend of $1.085 per share. This represents a $4.34 dividend on an annualized basis and a 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 payout ratio is presently 65.17%.

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.