6 Meridian Acquires New Stake in Duke Energy (DUK)
6 Meridian bought a new stake in Duke Energy (NYSE:DUK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 217,287 shares of the utilities provider’s stock, valued at approximately $16,833,000. Duke Energy accounts for approximately 1.9% of 6 Meridian’s portfolio, making the stock its 8th biggest position.
Other hedge funds have also recently bought and sold shares of the company. Butensky & Cohen Financial Security Inc. lifted its holdings in Duke Energy by 13.5% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 11,394 shares of the utilities provider’s stock valued at $958,000 after acquiring an additional 1,357 shares during the period. Cornercap Investment Counsel Inc. bought a new position in Duke Energy in the fourth quarter valued at about $3,319,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Duke Energy in the fourth quarter valued at about $5,105,000. Deutsche Bank AG lifted its holdings in Duke Energy by 1.2% in the fourth quarter. Deutsche Bank AG now owns 6,427,804 shares of the utilities provider’s stock valued at $540,637,000 after acquiring an additional 78,580 shares during the period. Finally, BlackRock Inc. lifted its holdings in Duke Energy by 0.9% in the fourth quarter. BlackRock Inc. now owns 45,499,220 shares of the utilities provider’s stock valued at $3,826,940,000 after acquiring an additional 424,604 shares during the period. 57.45% of the stock is currently owned by institutional investors.
DUK has been the topic of a number of recent research reports. Deutsche Bank raised Duke Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $77.22 to $86.00 in a report on Monday, February 26th. UBS initiated coverage on Duke Energy in a report on Friday, February 2nd. They issued a “buy” rating and a $91.00 target price on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $91.00 target price on shares of Duke Energy in a report on Thursday, February 1st. Guggenheim reissued a “buy” rating and issued a $82.00 target price on shares of Duke Energy in a report on Friday, February 23rd. Finally, Morgan Stanley decreased their price objective on Duke Energy from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 13th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $84.29.
NYSE DUK opened at $74.15 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.64. Duke Energy has a 52 week low of $75.80 and a 52 week high of $77.05. The stock has a market capitalization of $53.93 billion, a PE ratio of 16.23, a P/E/G ratio of 4.15 and a beta of 0.10.
Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Thursday, May 10th. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.14 by $0.14. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy had a return on equity of 8.10% and a net margin of 12.33%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. equities analysts predict that Duke Energy will post 4.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 18th. Investors of record on Friday, May 18th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Thursday, May 17th. Duke Energy’s dividend payout ratio (DPR) is presently 77.90%.
Duke Energy Profile
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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