Randolph Co Inc Purchases New Stake in Duke Energy Corporation $DUK

Key Points

• Randolph Co Inc acquired 126,775 Duke Energy shares worth approximately $14.45 million, making the utility stock about 1.1% of its portfolio. Institutional investors collectively own 65.31% of Duke Energy.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $132.19. Recent target prices range from $123 to $136.
• Duke Energy reported quarterly EPS of $1.43, exceeding estimates of $1.30, while revenue reached $7.59 billion. The company also declared a quarterly dividend of $1.085 per share, representing a 3.5% annualized yield.

Randolph Co Inc acquired a new position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 126,775 shares of the utilities provider's stock, valued at approximately $14,454,000. Duke Energy comprises approximately 1.1% of Randolph Co Inc's holdings, making the stock its 25th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Duke Energy in the 2nd quarter worth $605,680,000. Janus Henderson Group PLC boosted its position in shares of Duke Energy by 5,254.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,735,816 shares of the utilities provider's stock valued at $358,227,000 after acquiring an additional 2,684,721 shares during the last quarter. Cullen Capital Management LLC acquired a new position in shares of Duke Energy during the 2nd quarter valued at about $244,731,000. Great Lakes Advisors LLC purchased a new stake in shares of Duke Energy in the second quarter valued at about $100,586,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Duke Energy in the second quarter valued at about $88,657,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. HSBC assumed coverage on shares of Duke Energy in a report on Thursday. They set a "hold" rating and a $123.00 price target for the company. Mizuho set a $136.00 price target on shares of Duke Energy in a research report on Wednesday, August 5th. Barclays decreased their price objective on Duke Energy from $132.00 to $124.00 and set an "overweight" rating on the stock in a report on Friday, October 9th. KeyCorp lowered their price objective on Duke Energy from $139.00 to $128.00 and set an "overweight" rating for the company in a research report on Tuesday, October 13th. Finally, BMO Capital Markets cut 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. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Duke Energy has a consensus rating of "Moderate Buy" and an average target price of $132.19.

Duke Energy Trading Up 0.1%

Shares of DUK stock opened at $125.11 on Monday. Duke Energy Corporation has a fifty-two week low of $112.40 and a fifty-two week high of $134.49. The company has a 50 day moving average price of $118.87 and a 200 day moving average price of $123.41. The stock has a market capitalization of $97.54 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.92 and a beta of 0.36. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66.

Duke Energy (NYSE:DUK - Get Free Report) last released its 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. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same period in the prior year, the business earned $1.25 EPS. The firm's quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Friday, November 13th will be given a dividend of $1.0850 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.5%. Duke Energy's dividend payout ratio is currently 65.17%.

About Duke Energy

Duke Energy Corporation is an energy holding company that provides regulated electric and natural gas utility services in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers. The company's generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.

Duke Energy serves customers primarily in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.

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