Public Employees Retirement System of Ohio Makes New $40.70 Million Investment in Duke Energy Corporation $DUK

Public Employees Retirement System of Ohio purchased a new stake in Duke Energy Corporation (NYSE:DUK) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 321,560 shares of the utilities provider’s stock, valued at approximately $40,703,000.

Other large investors also recently bought and sold shares of the company. Basso Capital Management L.P. purchased a new stake in Duke Energy in the fourth quarter valued at approximately $25,000. Evolution Wealth Management Inc. lifted its stake in Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Triumph Capital Management increased its position in shares of Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Duke Energy in the 4th quarter valued at $28,000. Finally, Evergreen Advisors LLC purchased a new stake in shares of Duke Energy during the 1st quarter worth $36,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Trading Down 0.5%

NYSE:DUK opened at $120.20 on Friday. The stock’s 50 day moving average price is $125.32 and its 200 day moving average price is $126.61. The company has a market capitalization of $93.72 billion, a PE ratio of 18.05, a P/E/G ratio of 2.82 and a beta of 0.38. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.66 billion. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, research analysts anticipate that Duke Energy Corporation will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a $1.085 dividend. This represents a $4.34 dividend on an annualized basis and a yield of 3.6%. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. Duke Energy’s dividend payout ratio is 65.17%.

Analysts Set New Price Targets

A number of research firms have weighed in on DUK. BTIG Research restated a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. KeyCorp upgraded Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 target price for the company in a research note on Thursday, July 23rd. BMO Capital Markets dropped their price target on shares of Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Evercore raised their price objective on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research report on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and a consensus price target of $137.94.

Duke Energy Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.