1832 Asset Management L.P. Raises Stake in Duke Energy Corporation $DUK

1832 Asset Management L.P. lifted its position in shares of Duke Energy Corporation (NYSE:DUK) by 33.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 24,371 shares of the utilities provider’s stock after buying an additional 6,164 shares during the period. 1832 Asset Management L.P.’s holdings in Duke Energy were worth $2,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Simon Quick Advisors LLC raised its stake in shares of Duke Energy by 42.2% during the 2nd quarter. Simon Quick Advisors LLC now owns 7,444 shares of the utilities provider’s stock worth $878,000 after purchasing an additional 2,210 shares in the last quarter. Westbourne Investments Inc. acquired a new stake in Duke Energy in the second quarter valued at $282,000. Resolution Capital Ltd grew its position in shares of Duke Energy by 7.6% in the 1st quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider’s stock valued at $7,318,000 after acquiring an additional 4,255 shares during the period. Raymond James Financial Inc. increased its stake in shares of Duke Energy by 88.1% during the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock worth $592,934,000 after purchasing an additional 2,276,948 shares during the last quarter. Finally, Dogwood Wealth Management LLC raised its holdings in shares of Duke Energy by 52.8% in the 2nd quarter. Dogwood Wealth Management LLC now owns 9,125 shares of the utilities provider’s stock valued at $1,061,000 after purchasing an additional 3,152 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on Duke Energy from $134.00 to $138.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wells Fargo & Company raised Duke Energy to a “hold” rating in a report on Tuesday, October 28th. Scotiabank set a $137.00 price target on Duke Energy and gave the company a “sector outperform” rating in a research note on Friday, October 3rd. UBS Group raised their price objective on shares of Duke Energy from $131.00 to $137.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Morgan Stanley reiterated an “underperform” rating on shares of Duke Energy in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and an average price target of $138.44.

Duke Energy Stock Performance

NYSE:DUK opened at $116.49 on Friday. The firm’s fifty day simple moving average is $124.17 and its 200 day simple moving average is $121.21. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 1.54. The stock has a market cap of $90.59 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.49. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $130.03.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 earnings per share. As a group, research analysts predict that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 14th. Duke Energy’s payout ratio is currently 66.98%.

Insider Transactions at Duke Energy

In related news, EVP Robert Alexander Glenn sold 8,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $123.80, for a total value of $1,015,160.00. Following the completion of the transaction, the executive vice president owned 11,367 shares of the company’s stock, valued at $1,407,234.60. The trade was a 41.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Duke Energy 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.