Dearborn Partners LLC Buys Shares of 9,081 Duke Energy Corporation $DUK

Key Points

• Dearborn Partners purchased 9,081 shares of Duke Energy valued at approximately $1.15 million during the second quarter. Institutional investors collectively own 65.31% of the company.
• Duke Energy reported quarterly earnings of $1.43 per share, beating analyst estimates of $1.30, while revenue reached $7.59 billion, up 1.1% year over year.
• The company raised its quarterly dividend to $1.085 per share, representing a 3.6% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $137.94.

Dearborn Partners LLC purchased a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,081 shares of the utilities provider's stock, valued at approximately $1,149,000.

A number of other hedge funds also recently made changes to their positions in DUK. Basso Capital Management L.P. acquired a new stake in Duke Energy in the 4th quarter valued at approximately $25,000. Evolution Wealth Management Inc. boosted its position in Duke Energy by 1,111.1% during the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock worth $26,000 after acquiring an additional 200 shares during the period. Triumph Capital Management grew its stake in shares of 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 shares of Duke Energy in the fourth quarter worth $28,000. Finally, Evergreen Advisors LLC acquired a new position in shares of Duke Energy during the first quarter valued at $36,000. Institutional investors own 65.31% of the company's stock.

Duke Energy Stock Performance

NYSE:DUK opened at $120.79 on Friday. The company has a 50-day moving average of $125.40 and a 200-day moving average of $126.65. The firm has a market cap of $94.18 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 2.84 and a beta of 0.38. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a twelve month low of $113.89 and a twelve month high of $134.49.

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

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a $1.085 dividend. This is a positive change from Duke Energy's previous quarterly dividend of $1.06. The ex-dividend date is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.6%. Duke Energy's dividend payout ratio is 65.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. KeyCorp raised shares of Duke Energy from a "sector weight" rating to an "overweight" rating and set a $139.00 price objective for the company in a report on Thursday, July 23rd. UBS Group lowered their target price on shares of Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. Truist Financial dropped their price target on shares of Duke Energy from $138.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, August 17th. Mizuho set a $136.00 price target on shares of Duke Energy in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Duke Energy in a report on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.94.

About Duke Energy

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.

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