Duke Energy Co. (NYSE:DUK) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC raised its stake in shares of Duke Energy Co. (NYSE:DUK) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,452 shares of the utilities provider’s stock after acquiring an additional 407 shares during the period. Providence Capital Advisors LLC’s holdings in Duke Energy were worth $3,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DUK. Wulff Hansen & CO. boosted its stake in shares of Duke Energy by 9,923.0% in the second quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock valued at $77,103,000 after purchasing an additional 761,590 shares during the period. Capital Research Global Investors boosted its stake in shares of Duke Energy by 4.8% in the fourth quarter. Capital Research Global Investors now owns 11,141,020 shares of the utilities provider’s stock valued at $1,081,125,000 after purchasing an additional 509,039 shares during the period. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Duke Energy in the fourth quarter valued at approximately $41,874,000. Morningstar Investment Services LLC boosted its stake in shares of Duke Energy by 96.1% in the fourth quarter. Morningstar Investment Services LLC now owns 789,612 shares of the utilities provider’s stock valued at $76,529,000 after purchasing an additional 387,038 shares during the period. Finally, BROOKFIELD Corp ON purchased a new position in shares of Duke Energy in the first quarter valued at approximately $36,278,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DUK. Barclays lifted their price target on shares of Duke Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. 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. Wells Fargo & Company lifted their price target on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Bank of America lifted their price target on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, 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 note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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 on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the sale, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $117.31 on Tuesday. The firm’s fifty day simple moving average is $112.79 and its 200-day simple moving average is $104.13. The stock has a market capitalization of $90.54 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.19 and a beta of 0.47. Duke Energy Co. has a 12 month low of $83.06 and a 12 month high of $118.31. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating 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%. Duke Energy’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. As a group, equities analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were paid a $1.045 dividend. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a yield of 3.56%. The ex-dividend date was Friday, August 16th. Duke Energy’s payout ratio is currently 105.03%.

Duke Energy 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.