Andra AP fonden Acquires 12,900 Shares of Duke Energy Corporation $DUK

Key Points

• Andra AP fonden increased its Duke Energy stake by 41.2% in the second quarter, purchasing 12,900 additional shares for a total holding of 44,200 shares valued at approximately $5.6 million.
• Duke Energy reported quarterly earnings of $1.43 per share, exceeding the $1.30 analyst consensus, while revenue rose 1.1% year over year to $7.59 billion.
• The company raised its quarterly dividend to $1.085 per share, equivalent to a 3.8% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $137.56, above the reported share price of $114.26.

Andra AP fonden increased its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 41.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,200 shares of the utilities provider's stock after buying an additional 12,900 shares during the period. Andra AP fonden's holdings in Duke Energy were worth $5,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Basso Capital Management L.P. bought a new stake in Duke Energy during the fourth quarter worth about $25,000. Evolution Wealth Management Inc. raised its position 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 buying an additional 200 shares in the last quarter. Cornerstone Financial Management LLC bought a new stake in shares of Duke Energy during the 4th quarter worth approximately $28,000. Evergreen Advisors LLC bought a new position in Duke Energy in the first quarter valued at approximately $36,000. Finally, IAG Wealth Partners LLC raised its position in Duke Energy by 154.6% during the first quarter. IAG Wealth Partners LLC now owns 275 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 167 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Down 1.8%

Shares of NYSE DUK opened at $114.26 on Thursday. The company has a 50 day simple moving average of $122.55 and a 200 day simple moving average of $125.46. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49. The firm has a market cap of $89.09 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.37.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.66 billion. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. Duke Energy's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, research analysts forecast that Duke Energy Corporation will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th were given a $1.085 dividend. This is an increase from Duke Energy's previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.8%. Duke Energy's dividend payout ratio is presently 65.17%.

Analysts Set New Price Targets

DUK has been the topic of several recent analyst reports. Truist Financial decreased their price target on Duke Energy from $138.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, August 17th. 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. Barclays decreased their target price on Duke Energy from $140.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Duke Energy from $136.00 to $141.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, BTIG Research restated a "buy" rating on shares of Duke Energy in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.56.

Duke Energy News Roundup

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Rising electricity demand from data centers and Duke’s regulated Southern-market operations continue to support the company’s long-term growth outlook. A comparison with Southern Company highlights Duke’s dividend-growth potential, regulated asset base and exposure to expanding power demand. Southern Company or Duke Energy comparison
• Positive Sentiment: Duke said it would double available energy-bill assistance, which may improve customer and regulatory relations, although the program could add near-term costs. Duke Energy doubles energy bill assistance
• Neutral Sentiment: The U.S. Department of Energy ordered Duke to activate backup generation to help stabilize the Carolinas grid and prevent blackouts. The order underscores strong demand and grid-reliability needs, but could increase operating costs and highlight infrastructure constraints. Energy Department backup-power order
• Neutral Sentiment: Duke has been drawing increased investor attention, but the coverage provides no new fundamental catalyst or change to earnings expectations. Duke Energy attracting investor attention
• Negative Sentiment: The North Carolina Utilities Commission denied Duke permission to build a new gas plant. While avoiding construction spending may benefit costs, the decision could delay capacity expansion and complicate Duke’s strategy for meeting rising electricity demand. North Carolina denies Duke gas plant

About Duke Energy

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.

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