Duke Energy Corporation (NYSE:DUK) is Bruce & Co. Inc.'s 5th Largest Position

Key Points

• Bruce & Co. Inc. reduced its stake in Duke Energy by 10.2%, now holding 175,816 shares, making it the 5th largest position in their portfolio, valued at approximately $21.4 million.
• Duke Energy recently reported earnings of $1.76 per share, beating expectations, with a year-over-year revenue increase of 7.5% to $8.25 billion.
• The company announced an increase in its quarterly dividend to $1.065 per share, representing a 3.5% yield, with an ex-dividend date of August 15th.

Bruce & Co. Inc. lessened its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,816 shares of the utilities provider's stock after selling 20,000 shares during the quarter. Duke Energy comprises 6.9% of Bruce & Co. Inc.'s portfolio, making the stock its 5th biggest holding. Bruce & Co. Inc.'s holdings in Duke Energy were worth $21,444,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in Duke Energy during the 1st quarter valued at approximately $27,000. Wayfinding Financial LLC bought a new stake in shares of Duke Energy in the 1st quarter valued at approximately $27,000. Mattson Financial Services LLC bought a new stake in shares of Duke Energy in the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Duke Energy in the 4th quarter valued at approximately $27,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Trading Up 1.1%

Shares of NYSE DUK opened at $122.97 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. The business has a fifty day simple moving average of $117.35 and a two-hundred day simple moving average of $117.05. The firm has a market cap of $95.58 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.97 and a beta of 0.36. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. Duke Energy's revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. Analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a dividend of $1.065 per share. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. Duke Energy's dividend payout ratio is presently 69.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DUK shares. Raymond James Financial started coverage on Duke Energy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. BMO Capital Markets lowered their price objective on Duke Energy from $128.00 to $123.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Morgan Stanley lowered 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. Barclays lowered their price objective on Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company raised their price target on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.25.

Duke Energy Company Profile

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.

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