Canada Pension Plan Investment Board Purchases 100,000 Shares of Duke Energy Co. (NYSE:DUK)

Canada Pension Plan Investment Board increased its position in shares of Duke Energy Co. (NYSE:DUK) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,351,527 shares of the utilities provider’s stock after buying an additional 100,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.18% of Duke Energy worth $135,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Duke Energy during the first quarter worth $25,000. Fortitude Family Office LLC boosted its stake in shares of Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after buying an additional 119 shares during the last quarter. Riverview Trust Co bought a new position in shares of Duke Energy in the 1st quarter valued at about $30,000. Olistico Wealth LLC acquired a new stake in shares of Duke Energy in the second quarter valued at about $30,000. Finally, Cedar Wealth Management LLC boosted its position in Duke Energy by 101.2% during the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Duke Energy from $99.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a research note on Thursday, August 29th. Jefferies Financial Group initiated coverage on shares of Duke Energy in a report on Thursday. They issued a “buy” rating and a $138.00 target price on the stock. Scotiabank lifted their price target on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets upped their price objective on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.36.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Duke Energy Trading Up 1.1 %

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

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

Duke Energy Increases Dividend

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

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.