Public Sector Pension Investment Board Has $13.12 Million Position in Duke Energy Co. (NYSE:DUK)

Public Sector Pension Investment Board grew its position in Duke Energy Co. (NYSE:DUK) by 49.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 130,902 shares of the utilities provider’s stock after buying an additional 43,475 shares during the period. Public Sector Pension Investment Board’s holdings in Duke Energy were worth $13,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Duke Energy during the 1st quarter valued at about $25,000. Fortitude Family Office LLC raised its position 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 valued at $29,000 after acquiring an additional 119 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Duke Energy in the 1st quarter valued at $30,000. Olistico Wealth LLC bought a new position in shares of Duke Energy in the 2nd quarter worth $30,000. Finally, Cedar Wealth Management LLC grew its stake in shares of Duke Energy by 101.2% during the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after purchasing 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 the business’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.

Duke Energy Stock Up 0.8 %

Shares of DUK stock opened at $117.31 on Tuesday. 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 $90.54 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.19 and a beta of 0.47. The firm’s 50-day moving average is $112.79 and its 200-day moving average is $104.13. 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 posted its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. During the same period in the previous year, the firm earned $0.91 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts predict that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a dividend of $1.045 per share. The ex-dividend date was Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a yield of 3.56%. Duke Energy’s dividend payout ratio (DPR) is 105.03%.

Wall Street Analysts Forecast Growth

DUK has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Evercore ISI lifted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. BMO Capital Markets raised their price target on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group increased their price objective on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.