Garner Asset Management Corp Acquires 203 Shares of Duke Energy Co. (NYSE:DUK)

Garner Asset Management Corp raised its holdings in shares of Duke Energy Co. (NYSE:DUK) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,284 shares of the utilities provider’s stock after purchasing an additional 203 shares during the quarter. Garner Asset Management Corp’s holdings in Duke Energy were worth $429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy during the 1st quarter worth about $25,000. Fortitude Family Office LLC boosted its holdings in shares of Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 119 shares during the period. Riverview Trust Co acquired a new position in shares of Duke Energy in the first quarter valued at approximately $30,000. Olistico Wealth LLC acquired a new stake in Duke Energy during the 2nd quarter worth approximately $30,000. Finally, Cedar Wealth Management LLC grew its holdings in Duke Energy by 101.2% in the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after buying an additional 169 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Duke Energy stock opened at $115.90 on Thursday. The stock has a market cap of $89.45 billion, a PE ratio of 29.12, a P/E/G ratio of 3.19 and a beta of 0.47. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. Duke Energy Co. has a 12-month low of $83.06 and a 12-month high of $118.31. The business’s 50-day moving average price is $112.11 and its two-hundred day moving average price is $103.58.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, August 16th. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Barclays lifted their price target on shares of Duke Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Morgan Stanley increased their price target on Duke Energy from $99.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Scotiabank lifted their price objective on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $114.69.

Duke Energy Company 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.