abrdn plc increased its position in shares of Duke Energy Co. (NYSE:DUK – Free Report) by 23.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,492 shares of the utilities provider’s stock after purchasing an additional 48,514 shares during the quarter. abrdn plc’s holdings in Duke Energy were worth $29,707,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake in shares of Duke Energy by 69.6% in the second 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. Olistico Wealth LLC bought a new position in Duke Energy in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new position in Duke Energy in the third quarter worth $30,000. Cedar Wealth Management LLC grew its holdings 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 last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Duke Energy in the first quarter valued at $36,000. 65.31% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on DUK. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $116.00 to $121.00 in a research report on Tuesday, October 15th. KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Bank of America increased their price objective on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets boosted their target price 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, Jefferies Financial Group assumed coverage on Duke Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.85.
Insider Transactions at Duke Energy
In related news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by insiders.
Duke Energy Trading Down 0.3 %
DUK opened at $114.02 on Thursday. Duke Energy Co. has a twelve month low of $86.61 and a twelve month high of $121.25. The firm has a market cap of $88.05 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The firm’s fifty day moving average is $115.77 and its two-hundred day moving average is $107.96.
Duke Energy (NYSE:DUK – Get Free Report) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. Equities research analysts anticipate that Duke Energy Co. will post 5.97 EPS for the current year.
Duke Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 76.98%.
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.
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