Field & Main Bank bought a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,308 shares of the utilities provider's stock, valued at approximately $1,178,000.
Several other hedge funds have also made changes to their positions in the company. Basso Capital Management L.P. acquired a new position in Duke Energy in the fourth quarter valued at approximately $25,000. Evolution Wealth Management Inc. increased its stake in Duke Energy by 1,111.1% during the fourth 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 last quarter. Triumph Capital Management raised its position in Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 94 shares during the period. Cornerstone Financial Management LLC acquired a new position in shares of Duke Energy in the 4th quarter valued at $28,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Duke Energy by 13,750.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.
Analyst Ratings Changes
DUK has been the subject of a number of recent analyst reports. Barclays cut their price objective on Duke Energy from $140.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. Mizuho set a $136.00 target price on shares of Duke Energy in a research report on Wednesday, August 5th. Truist Financial lowered their target price on shares of Duke Energy from $138.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, August 17th. BTIG Research reissued a "buy" rating on shares of Duke Energy in a research note on Thursday, July 23rd. Finally, Evercore upped their price objective on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.94.
Check Out Our Latest Research Report on Duke Energy
Duke Energy Stock Performance
Shares of Duke Energy stock opened at $120.20 on Friday. The stock has a market capitalization of $93.72 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 2.82 and a beta of 0.38. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43. The business has a 50-day moving average of $125.32 and a 200 day moving average of $126.61. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49.
Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (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%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current year.
Duke Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a dividend of $1.085 per share. This represents a $4.34 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 14th. This is an increase from Duke Energy's previous quarterly dividend of $1.06. Duke Energy's payout ratio is currently 65.17%.
Duke Energy Profile
(
Free Report)
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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