Thoroughbred Financial Services LLC Takes $580,000 Position in Duke Energy Co. (NYSE:DUK)

Thoroughbred Financial Services LLC bought a new position in shares of Duke Energy Co. (NYSE:DUK) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,795 shares of the utilities provider’s stock, valued at approximately $580,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Duke Energy in the 1st quarter valued at $25,000. Fortitude Family Office LLC lifted 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 stake in shares of Duke Energy during the 1st quarter worth about $30,000. Olistico Wealth LLC acquired a new position in Duke Energy in the 2nd quarter valued at about $30,000. Finally, Cedar Wealth Management LLC lifted 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 worth $32,000 after acquiring an additional 169 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Insider Activity at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the firm’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 transaction, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Duke Energy Stock Performance

Shares of DUK stock opened at $117.70 on Tuesday. The company has a market cap of $90.84 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 3.19 and a beta of 0.47. Duke Energy Co. has a 52 week low of $83.06 and a 52 week high of $118.31. The firm has a 50 day moving average of $111.54 and a 200-day moving average of $103.31. 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 (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 dividend yield of 3.55%. Duke Energy’s payout ratio is presently 105.03%.

Wall Street Analysts Forecast Growth

DUK has been the topic of a number of recent research reports. Evercore ISI increased their target price on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. Morgan Stanley upped their price target on shares of Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. The Goldman Sachs Group lifted their price objective on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets raised their target price on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Duke Energy currently has a consensus rating of “Hold” and a consensus price target of $114.23.

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.