Applied Finance Capital Management LLC Acquires Shares of 8,451 Duke Energy Corporation $DUK

Applied Finance Capital Management LLC purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 8,451 shares of the utilities provider’s stock, valued at approximately $1,046,000.

A number of other large investors have also modified their holdings of DUK. Legacy Investment Solutions LLC purchased a new stake in shares of Duke Energy in the second quarter valued at approximately $28,000. Access Investment Management LLC purchased a new stake in Duke Energy during the 2nd quarter valued at about $31,000. Anfield Capital Management LLC increased its holdings in shares of Duke Energy by 2,608.3% in the second quarter. Anfield Capital Management LLC now owns 325 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Duke Energy in the third quarter valued at about $39,000. Finally, Total Investment Management Inc. purchased a new position in Duke Energy in the second quarter worth approximately $46,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Buying and Selling at Duke Energy

In related news, EVP Robert Alexander Glenn sold 8,200 shares of the firm’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 sale, the executive vice president owned 11,367 shares of the company’s stock, valued at $1,407,234.60. This trade represents a 41.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DUK. JPMorgan Chase & Co. reduced their price target on shares of Duke Energy from $136.00 to $126.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. BMO Capital Markets lifted their target price on shares of Duke Energy from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Scotiabank raised their price target on Duke Energy from $137.00 to $146.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a report on Monday, December 29th. Finally, UBS Group lowered their target price on Duke Energy from $135.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.50.

Duke Energy Stock Down 0.1%

Shares of NYSE DUK opened at $121.77 on Tuesday. The stock has a market cap of $94.70 billion, a P/E ratio of 19.15, a PEG ratio of 2.65 and a beta of 0.51. The business’s fifty day simple moving average is $118.06 and its 200-day simple moving average is $121.64. Duke Energy Corporation has a 12-month low of $110.51 and a 12-month high of $130.03. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 1.54.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 13th will be given a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. Duke Energy’s payout ratio is currently 66.98%.

Duke Energy Company Profile

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.