ABC Arbitrage SA Takes $2.90 Million Position in Duke Energy Corporation (NYSE:DUK)

Key Points

• ABC Arbitrage SA has acquired a new stake in Duke Energy Corporation, purchasing 23,748 shares valued at approximately $2.9 million.
• Several institutional investors have increased their holdings in Duke Energy, with a combined ownership of 65.31% of the stock, indicating strong institutional interest.
• Duke Energy announced a quarterly dividend increase to $1.065 per share, reflecting a 3.4% dividend yield, which demonstrates the company's commitment to returning value to shareholders.

ABC Arbitrage SA acquired a new position in Duke Energy Corporation (NYSE:DUK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,748 shares of the utilities provider's stock, valued at approximately $2,897,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Duke Energy by 11.6% during the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock valued at $728,000 after buying an additional 700 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Duke Energy by 10.8% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 10,775 shares of the utilities provider's stock valued at $1,161,000 after purchasing an additional 1,048 shares in the last quarter. Perennial Investment Advisors LLC boosted its stake in shares of Duke Energy by 14.4% in the 4th quarter. Perennial Investment Advisors LLC now owns 2,103 shares of the utilities provider's stock valued at $227,000 after purchasing an additional 265 shares in the last quarter. Waterloo Capital L.P. grew its holdings in shares of Duke Energy by 3.4% during the 4th quarter. Waterloo Capital L.P. now owns 4,228 shares of the utilities provider's stock valued at $456,000 after purchasing an additional 138 shares during the last quarter. Finally, Sierra Summit Advisors LLC grew its holdings in shares of Duke Energy by 32.0% during the 4th quarter. Sierra Summit Advisors LLC now owns 4,969 shares of the utilities provider's stock valued at $535,000 after purchasing an additional 1,204 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of DUK traded up $0.61 during midday trading on Thursday, hitting $125.82. 2,831,941 shares of the company traded hands, compared to its average volume of 3,175,662. The stock has a market cap of $97.84 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 3.03 and a beta of 0.36. The firm has a 50 day moving average of $118.08 and a 200-day moving average of $117.37. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.50 and a current ratio of 0.66. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The firm had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. Duke Energy's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. On average, analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio is 67.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DUK shares. Raymond James Financial initiated coverage on Duke Energy in a report on Friday, June 13th. They set a "market perform" rating for the company. Morgan Stanley dropped their price objective on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. lifted their target price on shares of Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a report on Tuesday, July 1st. Finally, Wells Fargo & Company raised their price target on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.31.

About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.