QRG Capital Management Inc. Increases Position in Duke Energy Corporation $DUK

Key Points

• QRG Capital Management increased its Duke Energy position by 7.9% in the second quarter, acquiring 13,141 additional shares for a total holding of 180,200 shares valued at approximately $22.81 million. Institutional investors collectively own 65.31% of the company.
• Duke Energy reported quarterly earnings of $1.43 per share, exceeding analysts’ $1.30 estimate, while revenue rose 1.1% year over year to $7.59 billion. The company also raised its quarterly dividend to $1.085 per share, producing an annualized yield of about 3.8%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $137.56, although some firms recently lowered their targets and one downgraded the stock to “sell.”

QRG Capital Management Inc. lifted its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,200 shares of the utilities provider's stock after acquiring an additional 13,141 shares during the period. QRG Capital Management Inc.'s holdings in Duke Energy were worth $22,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basso Capital Management L.P. purchased a new stake in shares of Duke Energy in the 4th quarter valued at $25,000. Evolution Wealth Management Inc. raised its holdings in shares of 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 purchasing an additional 200 shares during the last quarter. Cornerstone Financial Management LLC acquired a new position in Duke Energy during the fourth quarter valued at $28,000. IAG Wealth Partners LLC lifted 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 during the period. Finally, Evergreen Advisors LLC purchased a new stake in Duke Energy in the first quarter valued at $36,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Performance

NYSE DUK opened at $114.26 on Thursday. The stock has a market capitalization of $89.09 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.71 and a beta of 0.37. The stock has a 50-day moving average of $122.55 and a 200 day moving average of $125.46. 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 posted 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. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The business had revenue of $7.59 billion during the quarter, compared to analysts' expectations of $7.66 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The business's revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were given a dividend of $1.085 per share. This is a boost from Duke Energy's previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, August 14th. Duke Energy's dividend payout ratio (DPR) is currently 65.17%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BMO Capital Markets reduced their price objective 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. Morgan Stanley lowered their target price on Duke Energy from $133.00 to $127.00 and set an "equal weight" rating on the stock in a research note on Friday, September 18th. KeyCorp raised 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. BTIG Research reiterated a "buy" rating on shares of Duke Energy in a research report on Thursday, July 23rd. Finally, Wall Street Zen downgraded Duke Energy from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $137.56.

More Duke Energy News

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

Duke Energy Profile

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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