Boston Research & Management Inc. Grows Position in Duke Energy Co. (NYSE:DUK)

Boston Research & Management Inc. raised its position in Duke Energy Co. (NYSE:DUK) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,823 shares of the utilities provider’s stock after purchasing an additional 617 shares during the quarter. Boston Research & Management Inc.’s holdings in Duke Energy were worth $4,592,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DUK. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy during the 1st quarter worth approximately $25,000. Fortitude Family Office LLC lifted its position 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 purchasing an additional 119 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Duke Energy during the first quarter valued at $30,000. Olistico Wealth LLC bought a new position in shares of Duke Energy in the second quarter worth about $30,000. Finally, Cedar Wealth Management LLC increased its stake in Duke Energy by 101.2% in the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after buying an additional 169 shares during the period. Institutional investors own 65.31% of the company’s stock.

Insider Activity

In related news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the sale, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Duke Energy Stock Up 1.1 %

Shares of Duke Energy stock opened at $116.36 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The company has a market cap of $89.80 billion, a P/E ratio of 29.24, a PEG ratio of 3.19 and a beta of 0.47. The firm’s 50 day moving average price is $112.55 and its 200-day moving average price is $103.82. Duke Energy Co. has a 52-week low of $83.06 and a 52-week high of $118.31.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results 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. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, sell-side analysts predict that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.045 per share. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, August 16th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.59%. Duke Energy’s payout ratio is presently 105.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BMO Capital Markets upped their target price on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price objective on shares of Duke Energy in a research note on Thursday, August 29th. Wells Fargo & Company lifted their target price on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Bank of America increased their price target on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley lifted their price objective on Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.36.

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.