Birmingham Capital Management Co. Inc. AL Makes New Investment in Duke Energy Corporation $DUK

Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of Duke Energy Corporation (NYSE:DUK) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,413 shares of the utilities provider’s stock, valued at approximately $2,710,000.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in Duke Energy by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock worth $2,266,675,000 after purchasing an additional 230,375 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Duke Energy by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock valued at $1,046,818,000 after buying an additional 58,375 shares during the period. Franklin Resources Inc. raised its stake in shares of Duke Energy by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock valued at $965,446,000 after buying an additional 954,907 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Duke Energy by 0.4% during the 3rd quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after acquiring an additional 31,703 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Duke Energy during the 2nd quarter worth about $605,680,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Key Duke Energy News

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Potential data-center growth: Duke Energy Florida was reportedly approached about serving several very large data centers. If these projects move forward, they could create substantial long-term electricity demand, revenue growth and opportunities to spread infrastructure costs across new commercial customers. Duke Energy Florida was approached about huge data centers, among largest in world
• Positive Sentiment: Analyst support: Duke Energy Corporation received a consensus “Moderate Buy” rating, indicating that analysts generally see additional upside or view the stock as attractive for income-oriented investors. Duke Energy Corporation Given Consensus Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: Grid-technology exposure: Energy software company Camus Energy was selected for a Google accelerator and plans to demonstrate technology to Duke and other utilities. The potential for more flexible grid connections could help Duke manage data-center demand, although the immediate financial impact is unclear. Camus Energy Selected for Google for Startups Accelerator Program
• Neutral Sentiment: Duke’s linemen appreciation event and a $25,000 grant to Asheboro small businesses reinforce community engagement but are unlikely to materially affect earnings or valuation. Duke Energy holds Linemen Appreciation Day in St. Pete Downtown Asheboro gets $25K grant from Duke Energy
• Negative Sentiment: Project and regulatory opposition: Protesters are campaigning against Duke’s proposed gas plant, while consumer advocates criticize a Florida Public Service Commission proceeding involving a potential data-center-related rate structure. Delays, added compliance costs or rules preventing residential customers from bearing data-center infrastructure costs could pressure returns on new projects. Data center protesters rally against Duke Energy’s proposed gas plant FL PSC Punts on Ratepayer Protection by Considering Duke’s Data Center Loophole

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. BTIG Research restated a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Mizuho set a $136.00 price objective on Duke Energy in a report on Wednesday, August 5th. Jefferies Financial Group lowered their price objective on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Finally, BMO Capital Markets cut their target price on Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and a consensus price target of $137.94.

Duke Energy Stock Performance

NYSE DUK opened at $122.00 on Thursday. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49. The company has a 50 day moving average of $125.46 and a 200-day moving average of $126.66. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. The firm has a market cap of $95.12 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.84 and a beta of 0.38.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the business earned $1.25 EPS. Duke Energy’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

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

Duke Energy Company 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.