Duke Energy Corporation $DUK Shares Acquired by Baird Financial Group Inc.

Key Points

• Baird Financial Group increased its Duke Energy stake by 6.7% in the second quarter, purchasing 47,537 additional shares for a total holding of 753,875 shares valued at approximately $95.4 million. Institutional investors collectively own 65.31% of the utility’s stock.
• Duke Energy reported quarterly EPS of $1.43, beating analyst estimates of $1.30, while revenue reached $7.59 billion. The company also raised its quarterly dividend to $1.085 per share, representing a 3.6% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $137.94, compared with the stock’s reported opening price of $121.32.

Baird Financial Group Inc. boosted its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 753,875 shares of the utilities provider's stock after purchasing an additional 47,537 shares during the period. Baird Financial Group Inc. owned about 0.10% of Duke Energy worth $95,426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of DUK. Brighton Jones LLC raised its holdings in Duke Energy by 11.6% during the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock worth $728,000 after purchasing an additional 700 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Duke Energy by 19.6% during the 1st quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider's stock worth $2,825,000 after purchasing an additional 3,797 shares in the last quarter. Schnieders Capital Management LLC. raised its position in shares of Duke Energy by 1.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider's stock worth $3,686,000 after purchasing an additional 315 shares during the last quarter. AXA S.A. raised its position in shares of Duke Energy by 523.4% during the 2nd quarter. AXA S.A. now owns 42,233 shares of the utilities provider's stock worth $4,983,000 after purchasing an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in Duke Energy in the 2nd quarter valued at approximately $954,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Up 0.9%

NYSE DUK opened at $121.32 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a fifty-two week low of $113.89 and a fifty-two week high of $134.49. The business has a 50 day moving average price of $124.48 and a two-hundred day moving average price of $126.36. The stock has a market cap of $94.59 billion, a PE ratio of 18.22, a P/E/G ratio of 2.80 and a beta of 0.37.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating 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%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, sell-side analysts predict that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, August 14th. This represents a $4.34 annualized dividend and a yield of 3.6%. This is a boost from Duke Energy's previous quarterly dividend of $1.06. Duke Energy's dividend payout ratio (DPR) is presently 65.17%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DUK. KeyCorp upgraded shares of Duke Energy from a "sector weight" rating to an "overweight" rating and set a $139.00 target price on the stock in a report on Thursday, July 23rd. BMO Capital Markets dropped their target price on Duke Energy from $134.00 to $132.00 and set an "outperform" rating for the company in a research note on Wednesday, August 5th. BTIG Research reissued a "buy" rating on shares of Duke Energy in a research note on Thursday, July 23rd. Truist Financial lowered their price target on Duke Energy from $138.00 to $135.00 and set a "buy" rating for the company in a report on Monday, August 17th. Finally, Mizuho set a $136.00 price objective on Duke Energy in a report on Wednesday, August 5th. Ten equities 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, Duke Energy has an average rating of "Moderate Buy" and a consensus price target of $137.94.

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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