McGowan Group Asset Management Inc. acquired a new stake in Duke Energy Co. (NYSE:DUK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,280 shares of the utilities provider’s stock, valued at approximately $817,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Investment Advisors Ltd. acquired a new position in Duke Energy during the second quarter worth $29,000. Atlas Private Wealth Advisors increased its holdings in Duke Energy by 47.2% during the second quarter. Atlas Private Wealth Advisors now owns 315 shares of the utilities provider’s stock worth $31,000 after buying an additional 101 shares during the last quarter. Regency Capital Management Inc. DE acquired a new position in Duke Energy during the first quarter worth $39,000. Robbins Farley LLC acquired a new position in Duke Energy during the first quarter worth $47,000. Finally, USA Financial Portformulas Corp acquired a new position in Duke Energy during the second quarter worth $54,000. Institutional investors and hedge funds own 62.63% of the company’s stock.
DUK traded down $0.12 on Wednesday, hitting $98.80. 33,054 shares of the stock were exchanged, compared to its average volume of 3,133,950. Duke Energy Co. has a 12 month low of $80.41 and a 12 month high of $108.38. The business has a 50-day moving average of $104.83 and a two-hundred day moving average of $101.06. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.55 and a quick ratio of 0.37. The firm has a market capitalization of $76.01 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 3.75 and a beta of 0.26.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 16th. Investors of record on Friday, August 13th were given a dividend of $0.985 per share. This is a boost from Duke Energy’s previous quarterly dividend of $0.97. The ex-dividend date was Thursday, August 12th. This represents a $3.94 annualized dividend and a yield of 3.99%. Duke Energy’s dividend payout ratio is currently 76.95%.
A number of research firms have commented on DUK. Mizuho lifted their price objective on shares of Duke Energy from $105.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 18th. Vertical Research cut shares of Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Royal Bank of Canada cut shares of Duke Energy from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $107.10 to $109.00 in a research report on Friday, August 20th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Duke Energy from a “buy” rating to a “hold” rating and set a $111.00 price objective for the company. in a research report on Tuesday, July 27th. Finally, Argus raised shares of Duke Energy from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Friday, June 25th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.46.
In other Duke Energy news, EVP Julia S. Janson sold 15,465 shares of the business’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $105.00, for a total transaction of $1,623,825.00. Following the completion of the transaction, the executive vice president now owns 35,032 shares of the company’s stock, valued at $3,678,360. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
About Duke Energy
Duke Energy Corp. engages in the distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure; and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations in Duke Energy’s regulated electric utilities in the Carolinas, Florida and the Midwest.
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